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LM1 EXAMINATION TEST 2026 QUESTIONS WITH ANSWERS GRADED A+

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LM1 EXAMINATION TEST 2026 QUESTIONS WITH ANSWERS GRADED A+

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LM1
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LM1 EXAMINATION TEST 2026 QUESTIONS
WITH ANSWERS GRADED A+


◉ Subscription Market. Answer: More than one insurer participated in
the same risk, each taking a fixed percentage


◉ Characteristics of a good lead underwriter. Answer: Put together an
appealing quotation for the client


◉ Following market underwriters. Answer: Not deemed the leader
underwriter
They take a share of the risk 'subscription market'


◉ Multiple placements. Answer: Follow markets may agree to slightly
different terms and conditions e.g the premium


◉ Slip leader. Answer: The broker may have gone to see a London
Market leader in either the Lloyd's or the company market


◉ Bureau leader. Answer: If the slip leader is from a company then the
first LLOYD's underwriter on the slip is called the bureau leader for
Lloyds and the slip leader is also the bureau leader for the company
market
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