M05 exam dumps

CII M05 Value Package

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  • Exam Code: M05
  • Exam Name: Insurance law (IL) Exam
  • No. of Questions: 121 Questions and Answers
  • Updated: Sep 27, 2026

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  • Total Questions: 121
  • Updated on: Sep 27, 2026
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  • Total Questions: 121
  • Updated on: Sep 27, 2026
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  • Total Questions: 121
  • Updated on: Sep 27, 2026
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CII M05 Exam Syllabus Topics:

SectionObjectives
Legal System and Sources of Law- Structure of the legal system
  • 1. Civil vs criminal law distinctions
    • 2. Courts and hierarchy
      - Sources of law
      • 1. Common law and equity
        • 2. Statute law and regulations
          Contract Law and Insurance Contracts- Insurance-specific principles
          • 1. Insurable interest
            • 2. Utmost good faith (uberrimae fidei)
              - Formation of contracts
              • 1. Consideration and intention
                • 2. Offer and acceptance
                  Agency Law- Creation and authority of agents
                  • 1. Actual and apparent authority
                    • 2. Duties of agents and principals
                      Liability and Tort- Negligence and duty of care
                      • 1. Remedies and damages
                        • 2. Breach and causation
                          - Employer and public liability
                          • 1. Occupiers’ liability
                            • 2. Vicarious liability
                              Insurance Claims and Legal Principles- Claims handling principles
                              • 1. Subrogation and contribution
                                • 2. Indemnity principle

                                  CII Insurance law (IL) Sample Questions:

                                  Which of the following is true about insurable interest?

                                  • A. Insurable interest must always be proven at the time the policy is issued
                                  • B. The policyholder must have an interest in the property at the time of policy purchase but not at thetime of loss
                                  • C. Insurable interest is only required for life insurance policies
                                  • D. The policyholder must have a financial stake in the property or event insured at the time of loss
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

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                                  For this question more than 1 option is correct. You must select fill the correct options to gain the mark. In what circumstances would an agency agreement be automatically terminated?

                                  • A. Bankruptcy of the agent.
                                  • B. Death of the agent.
                                  • C. Bankruptcy of the principal.
                                  • D. Disclosure of the name of the principal.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B,C  🗳️

                                  The branch of law particularly relevant when handling negligence claims is

                                  • A. constitutional law.
                                  • B. administrative.
                                  • C. public law.
                                  • D. civil law.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  How do an insurer's subrogation rights differ, if at all, between a theft policy and a personal accident policy?

                                  • A. Subrogation rights only apply under a personal accident policy.
                                  • B. Subrogation rights apply under both policies.
                                  • C. Subrogation rights do not apply under either policy.
                                  • D. Subrogation rights only apply under a theft policy.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D  🗳️

                                  Which of the following is an essential element in the formation of an insurance contract?

                                  • A. A signed declaration by the policyholder
                                  • B. A valid claim history
                                  • C. The payment of a premium
                                  • D. A formal written agreement
                                  Reveal Solution  Discussion  0

                                  Correct Answer: C  🗳️

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