What type of organisation is the British Insurance Brokers' Association?

• A.An educational body.
• B.A trade body.
• C.A public limited company.
• D.A specialist regulator.

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How is Insurance Premium Tax collected within the UK?

• A.By HM Revenue & Customs on individual insurance contracts.
• B.By HM Revenue & Customs on the whole general account.
• C.By the insurer on individual insurance contracts.
• D.By the insurer on the whole general and life accounts.

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The Financial Services Compensation Scheme was established to help policyholders in the event of

• A.unreasonable policy terms and conditions.
• B.fraud perpetrated by an insurance broker.
• C.the repudiation of liability by an insurer.
• D.the financial failure of an insurance company.

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Joe is a broker who has become a Fellow of the Chattered Insurance Institute. If he would like to use the title Chartered Insurance Broker, what must he do. if anything?

• A.He must apply to the Prudential Regulation Authority.
• B.He cannot use the name as he would be in breach of the Insurance: Conduct of Business sourcebook (ICOBS).
• C.He must apply to the Chartered Insurance Institute.
• D.He must apply to the British Insurance Brokers' Association.

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If a surveyor is sent lo survey a risk, what does risk primarily refer to in this context?

• A.The insured perils.
• B.The premises.
• C.The policy cover details.
• D.The policyholder.

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