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Revision Mate - IF1 Questions correctly answered already passed
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Revision Mate - IF1 Questions correctly answered already passed
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Revision Mate - IF1 Questions correctlyanswered already passed
If Amir pays a total of £560 for his buildings insurance, how much of this will be standard insurance
premium tax? - correct answer ✔✔£60
What is the main trade association for insurance intermediaries called? - correct answer ✔✔British
Insurance Brokers Association
The Consumer Insurance [Disclosure and Representations] Act 2012 requires: - correct answer
✔✔consumers to take reasonable care not to make a misrepresentation when applying for insurance.
In the context of insurance, examples of moral hazard relate to the: - correct answer ✔✔insurance
history of the insured or to their personal history.
Under common law, tort is the duty of everyone to: - correct answer ✔✔act in a reasonable way towards
others.
If a German insurer sets up a company in the UK, who would this subsidiary company be regulated by? -
correct answer ✔✔The PRA & FCA
Which part of the Financial Conduct Authority's three pillar risk framework would require an authorised
firm to provide details of its business model and strategy? - correct answer ✔✔The Firm Systematic
Framework.
Small firms are required to complete a Retail Mediation Activities Return [RMAR]. What information
would NOT normally be included in this? - correct answer ✔✔Qualifications held by staff and details of
ongoing continuous professional development.
Michael supervises Kim, who is a trainee adviser, and Megan, an experienced adviser. How is the
supervision most likely to be different? - correct answer ✔✔The checks of the advice provided by Kim
will be more frequent.
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