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6 Jan 2023
IC Paper 1 Question
Which of the following descriptions about a contract is false?
a) A contract is an agreement enforceable by law.
b) A contract is a legally binding agreement between two or more parties.
c) A contract is an agreement involving a promise to perform one or more acts whereby the promise must be made by all parties of the contract.
d) A contract is an agreement governing the obligations of the insurer and the rights of the insured.
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IC Paper 6 (Set B)
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IC Paper 6 Question
Which of the following types of liability is covered under Travel Insurance?
a) Injury to the insured’s family member.
b) Legal liability for third-party bodily injuries.
c) Liability arising out of the use of vehicle and aircraft.
d) Liability resulting in loss or damage to the insured’s own property.
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IC Exam (Set A)
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IC Exam Question
If a self-employed person, who is a member of a master trust scheme, ceases to be self-employed and becomes a relevant employee of an employer, which of the following actions is he/she NOT allowed to do?
a) Redeem the accrued benefits in the master trust scheme.
b) Transfer the accrued benefits to another master trust scheme.
c) Retain the accrued benefits in the existing account in the master trust scheme.
d) Transfer the accrued benefits to the MPF scheme in which the new employer is participating.
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IC Paper 5 (Set A)
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IC Paper 5 Question
Which of the following statements regarding Investment-linked Policies is true?
a) An Investment-linked Policy Owner bears full investment gains and losses.
b) Investment-linked Policies can only be issued by investment companies.
c) Bonus smoothing is applied to Investment-linked Policies.
d) Investment-linked Policies are only available as a single premium policy.
IC Paper 2 (Set A)
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IC Paper 2 Question
Conditions precedent to liability are conditions which must be fulfilled:
a) before the contract can become valid.
b) if the contract is to continue once it becomes binding.
c) before the insured is legally entitled to recover under the contract.
d) after the contract becomes valid.