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CII E05 exam is a computer-based exam that consists of 100 multiple-choice questions. Candidates have 2 hours to complete the exam, and the pass mark is 65%. E05 exam is available throughout the year at various testing centers around the world, and candidates can book their exams online through the CII website.
NEW QUESTION # 21
Insurance agencies are usually created by way of
- A. deed of agreement.
- B. implied agreement.
- C. express agreement.
- D. unilateral agreement.
Answer: C
NEW QUESTION # 22
As a result of a breach of good faith under a commercial insurance policy, the insurer avoided the policy as a whole, but was NOT permitted to retain the premium because
- A. the premium was paid by monthly installments.
- B. the misrepresentation was fraudulent.
- C. the misrepresentation was innocent.
- D. no claim had been submitted or paid.
Answer: C
NEW QUESTION # 23
For this question more than 1 option is correct. You must select all the correct options to gain the mark. What are the characteristics of a corporation aggregate?
- A. It is not treated as a separate legal entity.
- B. It is an organisation with a separate legal existence to its membership.
- C. It is answerable to its shareholders or members.
- D. It is a legal person representing one official position.
Answer: B,C
NEW QUESTION # 24
John owns stock that he intentionally insured for £15,000, although the full value of the stock is £18.000. His insurance policy has no excess and is subject to a pro rata condition of average. In the event of water damaging
£6.000 of John's stock, how much will the insurer pay for a valid claim after the application of average?
- A. £15,000
- B. £3,000
- C. £6,000
- D. £5,000
Answer: D
NEW QUESTION # 25
A person insures her own life under a life insurance policy but does so expressly for the benefit of another. To facilitate this, which type of arrangement is most commonly established?
- A. Power of Attorney.
- B. Lien.
- C. Coinsurance.
- D. Trust.
Answer: D
NEW QUESTION # 26
How can an agency relationship be best described?
- A. A person, who has paid another party under a contract, has the right to stand in the place of that other party and avail himself of the rights and remedies of that party.
- B. A person has transferred his obligations under a contract to another party.
- C. A person has ratified another party's action.
- D. A person has the authority to act on behalf of another party.
Answer: D
NEW QUESTION # 27
A riot results in a shop being damaged and the shopowner's insurer settling the claim. A subrogation right enabling the insurer to sue the police authority arises under
- A. a condition subsequent to liability.
- B. a condition precedent to liability.
- C. tort.
- D. statute.
Answer: D
NEW QUESTION # 28
Within what time period, from the date when the damage first began, does the owner of an office block have a right to sue the builder for negligent construction work?
- A. 15 years.
- B. 3 years.
- C. 6 years.
- D. 9 years.
Answer: B
NEW QUESTION # 29
What is the intended purpose of a subrogation waiver clause in an insurance po
- A. The doctrine of subrogation is excluded from the policy.
- B. The insured has a duty to ensure that the insurer's subrogation rights are maintained.
- C. Cover is suspended whilst the insurer pursues an action for subrogation.
- D. The insurer's subrogation rights will not be exercised against certain parties associated with the insured.
Answer: D
NEW QUESTION # 30
The proximate cause of a loss is best described as the
- A. first peril to cause the loss.
- B. most remote cause of the loss.
- C. most dominant cause of the loss.
- D. final peril to cause the loss.
Answer: C
NEW QUESTION # 31
According to statute, a term under a consumer personal accident insurance policy may potentially be considered unfair if the insurer
- A. provides coverage that is more restrictive than that of other insurers.
- B. applies a specific exclusion within the policy wording.
- C. imposes a premium loading.
- D. requires notification of a claim within a very short time period.
Answer: D
NEW QUESTION # 32
When, if at all, does the duty of fair presentation of a risk apply after a non-consumer insurance contract has been formed?
- A. It does not apply as the duty is to take reasonable care not to make a misrepresentation.
- B. Where there is a variation in the insured risk.
- C. From the date of a breach of warranty.
- D. On submission of a claim.
Answer: B
NEW QUESTION # 33
For this question more than 1 option is correct. You must select ail the correct options to gain the mark.
In what circumstances does the Fires Prevention (Metropolis) Act 1774 require insurance companies to ensure that claims monies are used to rebuild or reinstate buildings destroyed or damaged by fire?
- A. When fraud or arson by the insured is suspected.
- B. Where the building was destroyed by an explosion.
- C. Upon the request of any person(s) interested in the buildings.
- D. Where there is underinsurance.
Answer: A,C
NEW QUESTION # 34
In the tort of negligence, a primary victim of nervous shock is a class of person who suffers psychiatric injury
- A. through fear for the safety of another person involved in an accident which he witnessed.
- B. as a result of stress or harassment at work.
- C. as a result of grief or sorrow for the loss of a person with whom he had a close relationship.
- D. through fear for his own safety in an accident.
Answer: D
NEW QUESTION # 35
In terms of private motor insurance, a renewal offer can be accepted
- A. by the proposer acting in reliance of the offer.
- B. only by written communication.
- C. by any third party.
- D. only by the proposer personally.
Answer: A
NEW QUESTION # 36
A professional indemnity policy includes a condition requiring that the insured must give prompt notice of any circumstance that could give rise to a claim. What type of condition is this?
- A. A collateral condition.
- B. A condition precedent to the contract.
- C. A condition precedent to liability.
- D. A suspensive condition.
Answer: C
NEW QUESTION # 37
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