CERTCII LM1 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

CERTCII LM1 ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS What is the principle of utmost good faith in insurance? - Answer -Parties must disclose all material facts honestly and fully; the insured must not conceal or mislead when proposing risk. When must a material fact (e.g., repeated burglaries) be disclosed? - Answer -At proposal stage (or whenever asked) — prior to the insurer's decision to accept the risk. Define proximate cause. - Answer -The dominant, effective cause that sets in motion a chain of events resulting in loss; determines insurer liability. What is the principle of indemnity?Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: - Answer -Insured should be restored to the financial position before the loss, not put in a better position. How is the principle of indemnity commonly modified in practice? - Answer -By agreed sums (agreed value), replacement cover (new-forold), reinstatement clauses, or policy limits. What is contribution in insurance? - Answer -Where multiple policies