How does insurable interest arise, if at all. when an insurer arranges reinsurance?

• A.The insurer is considered to have insurable interest by virtue of its liability to pay claims.
• B.Insurable interest does not arise.
• C.Insurable interest is created by statute.
• D.The policyholder is considered to have assigned the insurable interest to the insurer.

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The Principles for Business slate that all customers should be treated

• A.fairly.
• B.to a minimum standard.
• C.equally.
• D.with due respect.

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How would an employee benefit directly from her employer's business interruption insurance if its factory was forced to close temporarily due to flood damage?

• A.By continuation of her wages.
• B.By compensation for loss of bonus.
• C.By payment of a redundancy lump sum.
• D.By payment of an early retirement pension.

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What is the basis of settlement under a new for old insurance policy if a television is stolen?

• A.The replacement cost in full.
• B.The original cost, less wear and tear.
• C.The replacement cost, less wear and tear.
• D.The original cost in full.

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The main function of an insurance broker is to

• A.provide independent advice to clients.
• B.negotiate claims.
• C.act as the agent of the insurer.
• D.introduce business lo a particular insurer.

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