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CII E05 examination is challenging, and candidates are required to prepare adequately for the test. E05 exam is computer-based, and aspirants have two hours to complete it. The questions are mostly multiple-choice based, and candidates must score at least 65% to pass. E05 exam assesses the candidate's ability to apply legal and compliance knowledge related to insurance laws and regulations to real-life scenarios, ensuring that they are well-prepared to enter the insurance industry.
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CII E05 exam covers various insurance laws, including the law of agency, contract law, and tort law. It also includes a section on the regulatory framework that insurance companies and intermediaries operate under in the UK. E05 exam is structured in a way that covers all aspects of insurance laws and regulations, providing candidates with a thorough understanding of the industry's legalities.
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To prepare for the E05 examination element of the M05 Insurance Law Certification Exam, candidates should have a strong understanding of insurance law and its application to the insurance industry. They should also be familiar with the regulatory framework that governs the industry and the legal requirements for insurance companies and brokers. Candidates should also have a good understanding of the legal requirements for insurance policies and the terms and conditions that must be included in a policy. With proper preparation, candidates can successfully pass the E05 examination element and earn the M05 Insurance Law Certification.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Claims and Indemnity Principles | 15% | - Notification and proof of loss - Measure of indemnity - Subrogation and contribution |
| Topic 2: Law of Agency | 10% | - Authority, rights and duties - Creation and types of agency - Application to insurance intermediaries |
| Topic 3: Nature and Sources of English Law | 15% | - Legal system and structure - Sources of law: statute, common law, EU influence - Legal personality and capacity |
| Topic 4: Law of Torts | 15% | - Principles of negligence - Application to liability insurance - Other torts: trespass, nuisance, breach of statutory duty |
| Topic 5: Law of Contract | 15% | - Terms, conditions and representations - Breach and remedies - Essentials of a valid contract |
| Topic 6: Interpretation and Vitiation of Insurance Contracts | 15% | - Factors vitiating the contract - Warranties, conditions and exceptions - Rules of construction |
| Topic 7: Formation of Insurance Contracts | 15% | - Utmost good faith and disclosure - Insurable interest - Offer, acceptance and consideration |
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Insurance law (IL) Exam
Examination element of M05 Insurance law
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