Free Access CII.IF1.v2023-06-02.q33 Practice Test (Page 2)

What type of organisation is the British Insurance Brokers' Association?

A.A specialist regulator.

B.A public limited company.

C.An educational body.

D.A trade body.

A Terms of Business Agreement between an insurer and an intermediary sets out the

A.criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.

B.disaster recovery procedures to apply if there is a major disaster affecting the insurer.

C.framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.

D.agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).

A Terms of Business Agreement between an insurer and an intermediary will normally state that the insurer will deal with the policyholder

A.outside normal business hours,

B.via the intermediary.

C.only when collecting premiums.

D.on a direct basis,

To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?

A.To anyone able to fulfil the duties.

B.The agent cannot delegate her responsibility.

C.To suitably qualified individuals only.

D.To suitably experienced individuals only.

Insurers and intermediaries are required to adhere to solvency requirements as stipulated by the

A.European Union.

B.Financial Ombudsman Service.

C.Association of British Insurers.

D.Financial Services Compensation Scheme.

Other Version: 621CII.IF1.v2024-01-24.q35; 1458CII.IF1.v2022-05-30.q36; 1408CII.IF1.v2022-01-16.q34

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