CII M05 Practice Questions - Insurance Law (M05) Exam - CII M05 Practice Questions

Question 1

In the English legal system, which element of a judicial decision forms the binding legal principle under the doctrine of stare decisis?

Ratio decidendi Obiter dicta Per incuriam Res judicata

Correct Answer:

Ratio decidendi

Question 2

When a parliamentary Act (statute) conflicts directly with an established common law rule in England and Wales, how is the conflict resolved?

The statutory provision prevails over common law due to parliamentary sovereignty. The common law rule automatically invalidates the statute. The High Court must refer the conflict to the European Court of Human Rights. The common law rule prevails if it has existed for more than 100 years.

Correct Answer:

The statutory provision prevails over common law due to parliamentary sovereignty.

Question 3

In commercial insurance contract formation, how is an insurer's issued quotation generally classified under English law?

An invitation to treat A binding legal offer capable of acceptance A warranty of cover A representation of expectation

Correct Answer:

A binding legal offer capable of acceptance

Question 4

Under the rule in Adams v Lindsell (the postal acceptance rule), when is an acceptance by post legally effective?

When the letter of acceptance is actually received by the offeror. As soon as the letter of acceptance is properly stamped, addressed, and posted. When the letter is opened and read by the underwriter. Only after the insurer delivers the formal policy document.

Correct Answer:

As soon as the letter of acceptance is properly stamped, addressed, and posted.

Question 5

What constitutes consideration provided by the insured in a valid insurance contract?

The payment of, or promise to pay, the premium. The completion of the proposal form without error. The promise to maintain the property in good condition. The disclosure of all material facts prior to inception.

Correct Answer:

The payment of, or promise to pay, the premium.

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About this Exam

Prepare with the CII M05 Practice Questions - Insurance Law (M05) Exam practice quiz. This question bank includes 100 questions covering insurance, contract, commercial, policy, and legal. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CII M05 Practice Questions - Insurance Law (M05) Exam

This practice set contains 100 questions from the matching question bank and focuses on insurance, contract, commercial, policy, and legal. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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CII M05 Practice Questions - Insurance Law (M05) Exam

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