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English IIQE Paper 3 Pass Paper Question Bank (QB)
English IIQE Paper 3 Pass Paper Question Bank (QB)
English IIQE Paper 3 Pass Paper Question Bank (QB)
IIQE Paper 3
17-Nov-16
13:49:00
1 Which of the following descriptions is correct? Hot
C Annuity benefit payment for women is lower than men of the similar condition Section 1(d)
D Annuity benefit payment for women is higher than men of the similar condition QID 185
Answer C
Answer A
D Benefit for one's family in the event of one's premature death QID 3
Answer D
4 The original and basic intention of life insurance is also available as insurance cover in modern society Hot
(term insurance). What is this?
A Death (particularly premature) Topic 1
C Savings Section
Answer A
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B Provide for one's family and perhaps others in the event of death Chapter 1
Answer B
6 Life insurance provides a sum of money if the person who is insured dies whilst the policy is in effect.' Hot
Defined in the Life Insurance , Which one or more of the following is correct:
A There is limited, but true as far as its goes Topic 1
Answer D
Answer A
8 Which of the following intentions of life insurance represents the original purpose of cover? Hot
B investment Chapter 1
Answer D
D Benefit for one's family in the event of one's premature death QID 9
Answer D
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Answer A
11 When considering the needs of life insurance, which of the following is a business need but not personal Hot
need?
A Key persons Topic 1
Answer A
12 From a contemporary point of view, life insurance satisfies which needs? Hot
Answer A
13 The basis for life insurance claims must base on which principle of life insurance? Hot
A Indemnity Topic 1
B Subrogation Chapter 2
Answer C
14 According to section 64A of the 'Insurance Companies Ordinance', which of the following can constitute Hot
insurable interest?
A Parents and their children under 18 years old Topic 1
Answer D
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A A life insurance policy may assigned to a person who has not an insurable interest in the life insured Topic 1
B A life insurance policy may assigned to a person who is a close friend of the life insured Chapter 2
C A life insurance policy may assigned to a creditor of the life insured only where the sum insured does not Section 1(d)
excessed the amount of the indebtedness
D A life insurance policy may assigned to an assignee whether or not it has an insrable interest QID 24
Answer B
A A life insurance policy may be assigned the someone who has not an insurable interest in the life insured. Topic 1
B A life insurance policy may be assigned to someone who has not an insurable interest in the life insured Chapter 2
only where the latter is not bankrupt.
C A life insurance policy may be assigned whether or not the assignee has an insurable interest. Section 1(h)(iii)
D A life insurance policy may be assigned to someone who is not a family member of the life insured. QID 34
Answer B
17 Three years after Mr. Au purchased a life insurance policy for his wife Mrs. Au, he transferred the policy Hot
to his daughter. Two years later, Mrs. Au passed away. And at that time, they are divorced. Which of the
following is not main issue when processing the claim?
A Does Mr. Au have insurable interest in Ms. Au? Topic 1
B When does Mr. Au need insurable interest with Ms. Au? Chapter 2
Answer D
18 Three years after Mr.Au purchased a life insurance policy for his wife Mrs.Au, he transfered the policy to Hot
his daughter. Two years later, Mrs. Au passed away. And at that time, they are divorced. Which of the
following is not main issue when processing the claim?
A Does Mr. Au has insurable interest in Ms. Au? Topic 1
B When does Mr. Au need insurable interest with Ms. Au? Chapter 2
Answer D
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B When does Mr. Au need insurable interest with Ms. Au? Chapter 2
Answer D
20 In the context of when an insurable interest is needed, which of the following policy statement complies Hot
an legal requirements?
A Dealth of ex-husband, policy arranged before divorce Topic 1
C Policy arranged for ex-husband after the divorce was finalized Section 1(h)
Answer A
21 According to section 64A of the 'Insurance Companies Ordinance', which of the following can constitute Hot
insurable interest?
A Parents and their children under 18 years old Topic 1
Answer D
22 According to the law in Hong Kong, anyone has insurable interest of the following, except: Hot
A Himself Topic 1
Answer D
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B The only family member one can insure is one??s spouse Chapter 2
D Insurable interest from family relationship is very much more restricted QID 25
Answer D
Answer B
25 In the context of when an insurable interest is needed, which of the following policy statement complies Hot
an legal requirements?
A Dealth of ex-husband, policy arranged before divorce Topic 1
C Policy arranged for ex-husband after the divorce was finalized Section 1(h)
Answer A
Answer D
B Everyone has insurable interest of his life limited to his asset value Chapter 2
C Everyone has insurable interest of his life limited to his income Section 1
D Everyone has insurable interest of his life equal to his to the insurable interest of other's life QID 15
Answer A
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A The amount of loan, plus the accrued and expected interest Topic 1
Answer C
29 According to section 64B of the 'Insurance Companies Ordinance', any policy effected without insurable Hot
interest in the life insured:
A Voidable Topic 1
B Void Chapter 2
D Normal QID 18
Answer B
30 According to section 64B of the 'Insurance Companies Ordinance', any policy effected without insurable Hot
interest in the life insured:
A Voidable Topic 1
B Void Chapter 2
D Normal QID 19
Answer B
31 Insurable interest means what relationship between someone and the 'subject matter'? Hot
C Contract Section 1
Answer B
32 A person purchases life insurance for himself, the maximum sum insured is: Hot
B No limit Chapter 2
Answer B
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C Contract Section 1
Answer B
34 A person purchases life insurance for himself, the maximum sum insured is: Hot
B No limit Chapter 2
Answer B
35 Which of the following statement in describing the request of Insurable interest of life insurance is Hot
correct?
A A female has an insurable interest in her own lives for an unlimited amount Topic 1
B A person has an insurable interest in their own lives limited to the value of his/her net assets Chapter 2
C A person has an insurable interest in their own lives limited to the value of his/her income Section 1(c)
Answer A
36 According to the principle of utmost good faith, which of the following statement is correct in describing Hot
disclosure of material facts:
A Facts about actual physical property Topic 1
C Facts which would influence the judgment of a prudent underwriter in determining whether he will accept Section 2
the risk or in fixing the premium
D Facts which may properly affected the judgment of a prudent underwriter whether he will accept the risk QID 36
and in fixing the premium
Answer C
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Answer B
38 If a breach in utmost good faith is committed in life insurance contract, the contract will become Hot
voidable. To the life insurance policies in Hong Kong:
A This is applicable in anytime Topic 1
C A breach in utmost good faith makes the contract voidable automatically Section 2€
Answer D
39 All types of insurance are subjected to the principle of utmost good faith, which of the following Hot
statement is correct in describing disclosure of material facts:
A A material fact in legal definition almost always modified Topic 1
B The definition of material fact is completely different of Life and Non-Life policy Chapter 2
C The material fact would influence the judgment of a prudent insurer in fixing the premium, or Section 2
determining whether he will accept the risk which in every circumstance
D Incontestability Provision or Incontestable Clause contains comprehensive definition QID 35
Answer C
40 In life insurance, insurer has provided an indemnity to take over any remedies the policyholder possesses Hot
against third parties to seek to recover his payment to the policyholder. Which of the following principles
is similar to this:
A Indemnity Topic 1
B Subrogation Chapter 2
C Contribution Section 3
Answer B
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B Accident Chapter 2
Answer D
42 Suborgation can be obtained under which of the following life insurance settlement: Hot
Answer D
43 A compensation method will not apply to life insurances but non-life insurances, which is: Hot
B Contribution Chapter 2
D Anti-selection QID 46
Answer B
B Accident Chapter 2
Answer D
A Is applicable Topic 1
C Can be important (if commits suicide after suicide exclusion period) Section 3(a)
Answer A
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