Insurance law (IL) Exam: M05 Exam

"Insurance law (IL) Exam", also known as M05 exam, is a CII Certification. With the complete collection of questions and answers, PrepPDF has assembled to take you through 121 Q&As to your M05 Exam preparation. In the M05 exam resources, you will cover every field and category in Insurance Law (M05) Certification helping to ready you for your successful CII Certification.

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  • Exam Code: M05
  • Exam Name: Insurance law (IL) Exam
  • Certification Provider: CII
  • Corresponding Certification: Insurance Law (M05)
  • Updated: Aug 17, 2026
  • No. of Questions: 121 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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CII M05 Exam Syllabus Topics:

SectionObjectives
Agency Law- Creation and authority of agents
  • 1. Actual and apparent authority
    • 2. Duties of agents and principals
      Liability and Tort- Employer and public liability
      • 1. Occupiers’ liability
        • 2. Vicarious liability
          - Negligence and duty of care
          • 1. Breach and causation
            • 2. Remedies and damages
              Contract Law and Insurance Contracts- Insurance-specific principles
              • 1. Utmost good faith (uberrimae fidei)
                • 2. Insurable interest
                  - Formation of contracts
                  • 1. Offer and acceptance
                    • 2. Consideration and intention
                      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
                              Insurance Claims and Legal Principles- Claims handling principles
                              • 1. Indemnity principle
                                • 2. Subrogation and contribution

                                  CII Insurance law (IL) Sample Questions:

                                  1. Which of the following is true regarding the insurable interest in life insurance?

                                  A) Insurable interest is required only at the time the policy is issued
                                  B) The policyholder must have a financial interest in the life of the person insured
                                  C) Insurable interest is not required for life insurance policies
                                  D) The policyholder must have a financial interest in the property of the person insured


                                  2. What is the maximum contingency fee percentage under a damages-based agreement that can be charged by a solicitor for personal injury cases and employment tribunal cases respectively?

                                  A) 35% for personal injury cases and 25% for employment tribunal cases.
                                  B) 50% for both cases.
                                  C) 25% for personal injury cases and 35% for employment tribunal cases.
                                  D) 35% for both cases.


                                  3. In an insurance policy arranged through an insurance broker the parties to the contract are the:

                                  A) insured only
                                  B) insurance broker only
                                  C) insured and the insurer only
                                  D) Insurance broker and the insured only


                                  4. Dan made a financial arrangement on behalf of Liz. However, Liz had the arrangement set aside by the court on the basis that she had been unduly influenced by Dan. To establish undue influence, the court must have specifically identified Dan as

                                  A) a person holding a dominant position over Liz.
                                  B) a person holding a senior position at Liz's bank.
                                  C) Liz's husband.
                                  D) Liz's independent financial adviser.


                                  5. Within what time period, from the date when the damage first began, does the owner of an office block have a right to sue the builder for negligent construction work?

                                  A) 6 years.
                                  B) 3 years.
                                  C) 9 years.
                                  D) 15 years.


                                  Solutions:

                                  Question # 1
                                  Answer: B
                                  Question # 2
                                  Answer: C
                                  Question # 3
                                  Answer: C
                                  Question # 4
                                  Answer: A
                                  Question # 5
                                  Answer: B

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