LM1 Test 3

  • Created by: ania.m128
  • Created on: 05-09-18 21:21

1. The Bribery Act 2010 covers four offences. What is NOT one of these?

  • Being bribed.
  • Failure to report suspicions of bribery.
  • Failure to prevent bribery.
  • Bribing a foreign public official.
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2. For the principle of contribution to apply, a number of factors need to be present. What would NOT typically be one of these?

  • Both insurers' policies have to be identical.
  • Both policies must share a common insurable interest.
  • There must be a common subject matter.
  • The peril that causes the loss must be common to both policies.

3. Under an aviation policy, what type of liability would NOT typically be covered?

  • Damage to baggage outside the place in transit on the ground.
  • Damage to baggage as part of damage caused to the plane.
  • Illness to passengers from eating food on the plane.
  • Injury to passengers embarking or disembarking from an aircraft.

4. When premium rates within an insurance market are falling, the market is described as a(n):

  • Hard market.
  • Declining market.
  • Soft market.
  • Expanding market.

5. When would average be applied to an insurance claim?

  • When the risk is insured with more than one insurer.
  • Where the policy is subject to a franchise.
  • When there is underinsurance.
  • When the insurer settles a claim but reserves the rigt to reclaim some of the loss from a third party.

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