Legal aspects of life assurance — contract law, nomination, assignment and the legal framework around life policies.
These are 5 of the 532 IC-24 questions in Certena, taken from across the paper. Every answer key has been checked against a source — a printed answer key, a textbook extract, or arithmetic — not guessed. Reveal the answer and the explanation below each question. No sign-up needed.
Answer: C. No, as death is the direct consequence of breach of law, so it is no accident
The breach-of-law exclusion applies when death is the direct consequence of the breach so that the event ceases to be an accident, as with a burglar or dacoit killed during the offence.
Answer: E. A promise
When the person to whom the proposal is made signifies his assent, the proposal is said to be accepted, and a proposal when accepted becomes a promise.
Answer: E. No, because the Act applies to Public Authorities only
The provisions of the Act are applicable to Public Authorities only, and private insurance companies do not come within its ambit.
Answer: B. On both the proposer and the insurer, to an equal degree
Insurance contracts are uberrima fides; the obligation to deal fairly and honestly rests to an equal degree on both parties, and if either fails the contract may be avoided by the other.
Answer: B. As a separate contract, like each insurance contract
Each cession, like each insurance contract, is a separate contract unless the parties agree otherwise; the original policyholder is not a party to it.
527 more verified IC-24 questions, timed 100-question mock papers, and your weak areas are in the app — create a free account.
All 532 verified IC-24 questions, timed mock papers and spaced repetition. Free to start — no payment required for practice questions.
Start Free Practice →