SCI ComGI Practice Questions - SCI Commercial General Insurance (ComGI) Examination Exam

What is the primary purpose of a Statement of Suitability under the Central Bank of Ireland's Consumer Protection Code?

To provide a detailed breakdown of the policy's terms, conditions, and exclusions. To document and explain why a recommended product is suitable for the specific client's needs and objectives. To verify the identity of the client in accordance with Anti-Money Laundering legislation. To record the client's signature confirming they have accepted the insurance quote.

Correct Answer:

To document and explain why a recommended product is suitable for the specific client's needs and objectives.

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