Page 8 - CFPA-CII-Module W01-Examen blanc N°2-Qestions avec réponses

31. One of the roles of the actuary is to:

a) Sell both life and general insurance policies
b) Assist with the prediction of claim numbers
c) Identify and arrange risk transfer
d) Negotiate settlement of claims

32. One of the duties of an agent is to act with:

a) Average care and skill
b) Due care and skill
c) Little accountability
d) Speed and haste.

33. A contract may be set aside if it does not have one of the following essential features:

a) Payment before contract commences
b) Conditions set out in writing
c) Possibility of performance
d) Third party rights established

34. Acceptance of a risk by an insurer is complete when:

a) A letter of acceptance is posted
b) The customer has signed an acceptance letter
c) All documents have been completed
d) The principal acknowledges the offer

35. If insurers wish to cancel an insurance policy, they:

a) Always send a letter giving 7 days notice of cancellation
b) Telephone the customer to advise them of the cancellation
c) Send a recorded-delivery letter giving notice of the cancellation
d) Send a letter after cancellation has actually occurred

36. Bankruptcy may cause:

a) Change of agency terms
b) Review of the TOBA
c) Termination of agency
d) Application of Average

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