Page 70 - W01TB8_2017-18_[low-res]_F2F_Neat

3/14 W01/March 2017 Award in General Insurance

Self-test questions
1. How does the definition of a valid contract relate to insurance contracts?

2. Name three essential elements of a valid contract.
3. When is acceptance deemed complete in relation to postal acceptances?
4. What are the usual elements of consideration in an insurance contract?
5. Within what timeframe must a policyholder exercise their cancellations rights on an insurance policy?
6. How may an agency be created?
3
Chapter 7. What is ratification?

What are two examples of situations in which an independent intermediary may be considered as acting for
8.
the insured?
9. How may an agency be terminated?
10. What are the four general requirements that should be met when an insurer creates an agency business
agreement that will apply to its dealings with an intermediary?

You will find the answers at the back of the book Reference copy for CII Face to Face Training