Total number of questions: 20
Competency Mark: 65%
Duration: 60 minutes
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What is the regulated time period stipulated in Section 47 of the Short-term Insurance Act for policies to be issued to natural clients?
Which one of the following circumstances best aligns with the principle of insurable interest?
With whom does the duty of disclosure lie?
What is average used for?
Which ONE of the following is an example of a hazard?
Flash floods in a particular part of the country can be best described as-
Which ONE of the following is a disadvantage of self-insurance?
What is the purpose of underwriting criteria?
How do underwriting criteria affect the premium charged?
A requirement by the insurer that the insured must undertake to carry a specified percentage of the sum-insured is known as-
That factors or hazards could influence risk to which a client may be exposed?
What underwriting criteria would most likely be imposed for a house situated near a dam or river?
What actions may an insured take to reduce his premium for a particular risk?
Which of the following is contained in the policy schedule?
i. Premiums payable
ii. To outline the cover provided
iii. Applicable excesses
iv. Insurers details
How does SASRIA impact the premium charged?
Which values apply to the overall quotation and not per section?
What is the purpose of a renewal of a short-term insurance policy?
What is the concept of a replacement policy?
With one of the conditions of insurance being the payment of premium, what are the implications of returned debit orders?
What is one of the requirements to be fulfilled in terms of the insured’s burden of proof?
The REready! Pack is designed to be used to prep for RE1 or RE5 or both.
The content for RE1 and RE5 overlaps as both exams test your practical knowledge of the FAIS Act and FICA.
The class is not a facilitator that is going to read the law out of a book for you.
Anna Bouhail contextualizes the content and creates an understanding of basic concepts related to law, the industry, and competency exams.
The class is structured to also instill compliance skills allowing the learner to answer practical questions.