IF2 Mini Mock 1

Question 1
Roy has a dispute with his employer regarding his contract. Which of the following policies would Roy be
able to use to help with his situation?

A. Employers’ Liability
B. Professional Indemnity
C. Group Legal Benefit Policy
D. Fidelity Guarantee

Question 2
Colin has taken out a household contents policy with a sum insured of £75,000. His valuables limit will be?

A. £3750
B. £75,000
C. £10,000
D. £25,000

Question 3
Gregory and Sons Merchants have a motor policy covering their van which is used as part of their business.
The van is involved in an accident and requires repairs. The insurance policy covers a hire vehicle. This
costs £100 per day from the source. How much will the insurers pay towards the hire vehicle if it is used for
5 days?

A. £100
B. £250
C. £400
D. £500

Question 4
A bakery keeps its products on display for passers-by to view from outside of the shop. Which of the
following policies would be most useful to cover the display items against damage?

A. Theft
B. Glass
C. Fire
D. Money

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Question 5
ABC Electricals are a company with 20 employees, operating from a building with a rebuild value of
£500,000. The company is arranging its Employers’ Liability cover. What will be the main rating factor for
the underwriters?

A. Building sum insured

B. Fees
C. Turnover
D. Wage roll

Question 6
Paul is arranging his private motor insurance for a recently purchased vehicle. During the quote Paul must
ensure that he?

A. Takes reasonable care when answering insurers questions

B. Disclose unusual facts
C. Disclose any reason that led to seeking insurance
D. Volunteer material facts

Question 7
At Lloyd's, which of the following is commonly used in the underwriting process?

A. TOBA's
B. Slips
C. Presentations
D. Proposal forms

Question 8
An insurer is quoting a property insurance policy a customer. Asking about the construction of the property
to be insured is an example of what type of question?

A. Specific
B. General
C. Relevant
D. Excessive

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Question 9
There is a salon operating from a building worth £200,000, with a turnover of £400,000 and employs 3
members of staff at a salary of £15,000 each. The salon owner decides to take out a public liability policy
and the insurer applies a rate of £0.10%. How much will the salon owner pay for their policy?

A. £200
B. £400
C. £45
D. £40

Question 10
CUE stands for?

A. Cost of Underwriting and Estimates

B. Claims Under Enquiry
C. Claims Underwriting Employees
D. Claims Underwriting Exchange

Question 11
The customer of a household policy has an accidental damage claim and as a result the insurer negotiates
with the client to keep certain items that were part of the claim. This is an example of the insurer doing
what?

A. Arranging debris removal

B. Reducing costs by obtaining the salvage
C. Destroying forensic evidence
D. Reinstating

Question 12
Stacy has just received a letter in the post which contains the monetary amount of her recent claim. She's
not happy with it and wishes take the matter further. Who would she use for her dispute?

A. Financial Ombudsman Service

B. Financial Conduct Authority
C. Arbitration
D. She must accept the amount

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Question 13
Jess has just fallen victim to a recent flood in her area. She knew her town was prone to flooding before
taking out insurance but never thought it would happen to her home. When arranging her insurance policy
Jess never informed her insurer about the town being prone to flooding. How will the insurers deal with
Jess' claim?

A. Pay as normal
B. Pay a percentage of what the pay-out should have been using the 'reduced proportionately' calculation
C. Refuse to pay
D. Void the policy

Question 14
Which of the following is not a criminal offence defined under the Computer Misuse Act 1990?

A. Unauthorised access to a computer

B. Unauthorised access to a computer with intent to commit serious crime
C. Unauthorised access to a building that has a LAN
D. Unauthorised modification of computer material

Question 15
Complaint records must retained for a minimum of?

A. 3 years
B. 4 years
C. 5 years
D. 6 years