M05 exam dumps

CII M05 Value Package

(Include: PDF + Desktop Test Engine + Online Test Engine)

  • Exam Code: M05
  • Exam Name: Insurance law (IL) Exam
  • No. of Questions: 121 Questions and Answers
  • Updated: Oct 01, 2026

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CII M05 Exam Syllabus Topics:

SectionWeightObjectives
Law of Torts8%- Principles of tort liability
  • 1. Negligence, nuisance, strict liability
    Claims and Loss Settlement14%- Notification, proof of loss, measure of indemnity
    • 1. Subrogation, contribution, proximate cause
      Law of Contract12%- Formation of contract
      • 1. Terms, breach, remedies, privity
        • 2. Offer, acceptance, consideration, intention
          Legislation and Regulation14%- Consumer protection, data protection, FCA/PRA rules
          • 1. Insurance regulatory framework
            Terms and Interpretation of Insurance Contracts16%- Conditions, warranties, exceptions
            • 1. Vitiating factors, construction of terms
              Law of Agency8%- Authority, duties, rights and liabilities
              • 1. Agent-principal relationship in insurance
                Formation of Insurance Contracts18%- Utmost good faith, disclosure, representation
                • 1. Insurable interest, indemnity, subrogation
                  English Legal System and Basic Concepts10%- Nature and sources of law
                  • 1. Common law, statute law, EU law
                    • 2. Legal persons and capacity

                      CII Insurance law (IL) Sample Questions:

                      Under UK insurance law, which document outlines the terms of the insurance agreement between the insurer and the insured?

                      • A. The insurance policy
                      • B. The proposal form
                      • C. The schedule of benefits
                      • D. The statement of fact
                      Reveal Solution  Discussion  0

                      Correct Answer: A  🗳️

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                      Which of the following is true regarding the insurable interest in life insurance?

                      • A. Insurable interest is required only at the time the policy is issued
                      • B. Insurable interest is not required for life insurance policies
                      • C. The policyholder must have a financial interest in the life of the person insured
                      • D. The policyholder must have a financial interest in the property of the person insured
                      Reveal Solution  Discussion  0

                      Correct Answer: C  🗳️

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                      What are the main reasons why the law requires insurable interest to exist?

                      • A. Reduce moral hazard and discourage gambling.
                      • B. Reduce physical hazard and discourage gambling.
                      • C. Discourage underinsurance and ensure premium adequacy.
                      • D. Discourage betterment and ensure premium adequacy.
                      Reveal Solution  Discussion  0

                      Correct Answer: A  🗳️

                      What does the principle of "indemnity" generally prevent in an insurance contract?

                      • A. Insuring property for more than its actual value
                      • B. Setting premiums based on market conditions
                      • C. Limiting the insurer's liability
                      • D. Allowing the insured to profit from the loss
                      Reveal Solution  Discussion  0

                      Correct Answer: D  🗳️

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                      The test of the materiality of facts in an insurance contract is defined according to the opinion of a

                      • A. honest proposer.
                      • B. prudent underwriter.
                      • C. diligent broker.
                      • D. reasonable person.
                      Reveal Solution  Discussion  0

                      Correct Answer: B  🗳️

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