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Question 42/42

What happens if an insured party fails to disclose a material fact during the application process for an insurance policy?

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Other Question (42q)
Q1. The Chancery Division is a division of the:
Q2. A household insurance policyholder leaves his home to go to work without setting the burgl...
Q3. For this question more than 1 option is correct. You must select all the correct options t...
Q4. Which of the following is an essential element in the formation of an insurance contract?...
Q5. For this question more than 1 option is correct. You must select all the correct options t...
Q6. Which of the following is an example of a condition precedent in an insurance contract?...
Q7. Which of the following is NOT an exclusion under a typical homeowners insurance policy?...
Q8. Which of the following is considered an exclusion in a standard property insurance policy?...
Q9. Under insurance law, what is the effect of a fraudulent claim on an insurance policy?...
Q10. Which of the following is not a typical requirement for the formation of an insurance cont...
Q11. John owns stock that he intentionally insured for £15,000, although the full value of the ...
Q12. Insurance agencies are usually created by way of...
Q13. Which body represents the solicitors' profession in England and Wales?...
Q14. Fran is self-employed and works from home. She uses her spare bedroom as an office and sep...
Q15. Dan made a financial arrangement on behalf of Liz. However, Liz had the arrangement set as...
Q16. If a proposer has failed to fully answer a question on a proposal form, the insurer is dee...
Q17. Which of the following is a key principle of insurance that ensures that a policyholder is...
Q18. What does the principle of "indemnity" generally prevent in an insurance contract?...
Q19. Julie has agreed to feed lan's cat whilst he is away on holiday in a remote location. When...
Q20. A risk control survey shows that premises proposed for insurance are in close proximity to...
Q21. What principle requires that both the insurer and insured disclose all material facts to e...
Q22. How can an agency relationship be best described?...
Q23. Which of the following best defines an insurance contract?...
Q24. What is the most common for of corporation?
Q25. A storm blew down the wall of a limber building. The failing wall broke electrical wiring,...
Q26. The principle of subrogation prevents a policyholder from profiting from...
Q27. What is the basis of settlement under a new for old insurance policy if a television is st...
Q28. What is the principal reason for which a proposer is asked by the insurer whether his car ...
Q29. Tim is a local insurance broker. He has authority to receive premiums for a personal lines...
Q30. Which divisional court of the High Court includes a Commercial Court?...
Q31. Which of the following is a feature of an insurance contract under the principle of "utmos...
Q32. Paul made a formal offer to John and gave hun (out weeks to accept it. Three weeks later, ...
Q33. What are the main objectives of the principle of insurable interest?...
Q34. In a chain of events, the proximate cause of a loss is always the...
Q35. Under UK insurance law, which document outlines the terms of the insurance agreement betwe...
Q36. What is the principle of utmost good faith in insurance?...
Q37. The test of the materiality of facts in an insurance contract is defined according to the ...
Q38. Which of the following is an example of a condition precedent in an insurance contract?...
Q39. Which of the following is true regarding the insurable interest in life insurance?...
Q40. A warranty in Emily's personal travel insurance policy states that cash must be kept in a ...
Q41. What is the role of an insurance broker in a typical insurance transaction?...
Q42. What happens if an insured party fails to disclose a material fact during the application ...