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Last Updated: Sep 13, 2026
No. of Questions: 121 Questions & Answers with Testing Engine
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| Section | Objectives |
|---|---|
| Insurance Claims and Legal Principles | - Claims handling principles
|
| Agency Law | - Creation and authority of agents
|
| Legal System and Sources of Law | - Sources of law
|
| Contract Law and Insurance Contracts | - Insurance-specific principles
|
| Liability and Tort | - Negligence and duty of care
|
Which of the following is true regarding the "principle of subrogation"?
Correct Answer: D 🗳️
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What are the main reasons why the law requires insurable interest to exist?
Correct Answer: B 🗳️
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
Correct Answer: D 🗳️
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?
Correct Answer: A,B 🗳️
Which of the following statements is true regarding exclusions in an insurance policy?
Correct Answer: B 🗳️
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