English IIQE Paper 2 Topic 1
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- Answered
- Review
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Question 1 of 359
1. Question
1 pointsQID2:General insurance covers:
Correct
General insurance covers insurance of the person, insurance of property, insurance of pecuniary interests, and insurance of liability. The answer is D.
Incorrect
General insurance covers insurance of the person, insurance of property, insurance of pecuniary interests, and insurance of liability. The answer is D.
Hint
References:1.(a).
-
Question 2 of 359
2. Question
1 pointsQID3:In general insurance, health insurance is usually classified as:
Correct
“Insurance of the person” is one whose subject matter is a human being’s life, limbs or health, or medical expenses. The answer is B.
Incorrect
“Insurance of the person” is one whose subject matter is a human being’s life, limbs or health, or medical expenses. The answer is B.
Hint
References:1.(a).
-
Question 3 of 359
3. Question
1 pointsQID5:Property insurances cover either “all risks” or:
Correct
Property insurances cover either all risks or specified perils. The answer is C.
Incorrect
Property insurances cover either all risks or specified perils. The answer is C.
Hint
References:1.(b).
-
Question 4 of 359
4. Question
1 pointsQID6:Insurance that provides protection only against damage caused by fire, lightning and household gas explosions is more likely to be:
Correct
Specified perils (or “named perils”) refer to that to be recoverable a loss or damage must have been proximately caused by a peril (i.e. cause of loss) specifically mentioned (specified) in the policy, e.g. lightning under a fire policy. The answer is D.
Incorrect
Specified perils (or “named perils”) refer to that to be recoverable a loss or damage must have been proximately caused by a peril (i.e. cause of loss) specifically mentioned (specified) in the policy, e.g. lightning under a fire policy. The answer is D.
Hint
References:1.(b).(i)
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Question 5 of 359
5. Question
1 pointsQID8:Property insurances cover either specified perils or:
Correct
Property insurances cover either all risks or specified perils. The answer is C.
Incorrect
Property insurances cover either all risks or specified perils. The answer is C.
Hint
References:1.(b).(ii)
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Question 6 of 359
6. Question
1 pointsQID9:An “all risks” policy is unlikely to cover loss or damage arising from which of the following causes?
Correct
“All Risks” means that loss or damage arising from any conceivable risk is covered by the policy unless an exclusion
applies. The claimant merely has to show that an accidental loss has occurred, without the need to pinpoint its exact cause. The internal damage of a watch caused by high humidity is not an accidental loss. The answer is C.Incorrect
“All Risks” means that loss or damage arising from any conceivable risk is covered by the policy unless an exclusion
applies. The claimant merely has to show that an accidental loss has occurred, without the need to pinpoint its exact cause. The internal damage of a watch caused by high humidity is not an accidental loss. The answer is C.Hint
References:1.(b).(ii)
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Question 7 of 359
7. Question
1 pointsQID10:War risks and nuclear risks are standard exclusions. Which of the following statements is correct?
Correct
War risks and nuclear risks are standard exclusions and are generally not insurable. The answer is A.
Incorrect
War risks and nuclear risks are standard exclusions and are generally not insurable. The answer is A.
Hint
References:1.(c).
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Question 8 of 359
8. Question
1 pointsQID11:The fundamental risks considered exclusions in most general policies include war and:
Correct
The fundamental risks considered exclusions in most general policies include war and nuclear risks. The answer is C.
Incorrect
The fundamental risks considered exclusions in most general policies include war and nuclear risks. The answer is C.
Hint
References:1.(c).
-
Question 9 of 359
9. Question
1 pointsQID14:In insurance industry, vehicles are classified into different categories. Which of the following is not the usual classification?
Correct
There are three major classes of motor insurance: private vehicle (private car), motor cycle and commercial vehicle. The answer is A.
Incorrect
There are three major classes of motor insurance: private vehicle (private car), motor cycle and commercial vehicle. The answer is A.
Hint
References:1.1.
-
Question 10 of 359
10. Question
1 pointsQID1:Which of the following is not a major class of motor insurance?
Correct
Three major classes of motor insurance are private vehicle (private car), motor cycle and commercial vehicle. The answer is C.
Incorrect
Three major classes of motor insurance are private vehicle (private car), motor cycle and commercial vehicle. The answer is C.
Hint
References:1.1.
-
Question 11 of 359
11. Question
1 pointsQID13:The “third party liability insurance” as used by motor insurers in Hong Kong covers:
Correct
The “third party only cover” covers any insured driver (or any passenger) for his liability at law to third parties for their death, injury or property damage. The answer is D.
Incorrect
The “third party only cover” covers any insured driver (or any passenger) for his liability at law to third parties for their death, injury or property damage. The answer is D.
Hint
References:1.1.
-
Question 12 of 359
12. Question
1 pointsQID16:General insurance covers:
Correct
General insurance covers insurance of the person, insurance of property, insurance of pecuniary interests, and insurance of liability. The answer is A.
Incorrect
General insurance covers insurance of the person, insurance of property, insurance of pecuniary interests, and insurance of liability. The answer is A.
Hint
References:1.1.(a)
-
Question 13 of 359
13. Question
1 pointsQID17:Which of the following motor insurance policies covers the loss and damage to the insured vehicle?
(i) “Act” insurance
(ii) Third party cover
(iii) Third party, fire and theft cover
(iv) Comprehensive coverCorrect
Third party, fire and theft cover comprises property insurance of the insured vehicle covering its loss or damage resulting from the risk of rire or theft.
Comprehensive cover, being the widest form of motor cover available, includes third party only cover and third party, fire and theft cover, with “all risks” insurance
on the insured vehicle.The answer is D.
Incorrect
Third party, fire and theft cover comprises property insurance of the insured vehicle covering its loss or damage resulting from the risk of rire or theft.
Comprehensive cover, being the widest form of motor cover available, includes third party only cover and third party, fire and theft cover, with “all risks” insurance
on the insured vehicle.The answer is D.
Hint
References:1.1.(a)
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Question 14 of 359
14. Question
1 pointsQID18:Which of the following statements regarding “act” insurance is incorrect?
Correct
The “act only cover” is now rarely found in the market. The answer is C.
Incorrect
The “act only cover” is now rarely found in the market. The answer is C.
Hint
References:1.1.(a)
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Question 15 of 359
15. Question
1 pointsQID19:A car rolled over at high speed and the whole car was damaged. However, no life damage was caused. Which of the following types of policies are eligible for compensation?
Correct
Comprehensive cover, being the widest form of motor cover available, includes third party only cover and third party, fire and theft cover, with “all risks” insurance
on the insured vehicle. The answer is A.Incorrect
Comprehensive cover, being the widest form of motor cover available, includes third party only cover and third party, fire and theft cover, with “all risks” insurance
on the insured vehicle. The answer is A.Hint
References:1.1.(a)
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Question 16 of 359
16. Question
1 pointsQID22:The narrowest coverage of motor insurance is:
Correct
The narrowest coverage of motor insurance is “act” insurance. The answer is A.
Incorrect
The narrowest coverage of motor insurance is “act” insurance. The answer is A.
Hint
References:1.1.(a)& (b)
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Question 17 of 359
17. Question
1 pointsQID21:If a passenger is injured in a traffic accident, which of the following would provide protection for the insured’s liability?
Correct
All three major types of motor insurance cover any insured driver (or any passenger) for his liability at law to third parties for their death, injury or property damage. The answer is D.
Incorrect
All three major types of motor insurance cover any insured driver (or any passenger) for his liability at law to third parties for their death, injury or property damage. The answer is D.
Hint
References:1.1.(a)& (b)
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Question 18 of 359
18. Question
1 pointsQID23:We often refer to the “third party” liability insurance underwritten by the insurer. Which three of the following is true?
(i) It is more extensive than compulsory “third party” liability insurance
(ii) It is different from compulsory “third party” liability insurance
(iii) It covers liability for property damage
(iv) It does not include liability for property damage to third partiesCorrect
A motor insurance policy described as
“third party”, covers liability for property damage to third parties, in
addition to liability for death or injury. The answer is A.Incorrect
A motor insurance policy described as
“third party”, covers liability for property damage to third parties, in
addition to liability for death or injury. The answer is A.Hint
References:1.1.(a)& (b)
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Question 19 of 359
19. Question
1 pointsQID20:In a road accident, a passenger is injured in an insured vehicle. Which of the following motor insurance may cover the medical expenses?
Correct
All three major types of motor insurance cover any insured driver (or any passenger) for his liability at law to third parties for their death, injury or property damage. The answer is D.
Incorrect
All three major types of motor insurance cover any insured driver (or any passenger) for his liability at law to third parties for their death, injury or property damage. The answer is D.
Hint
References:1.1.(a)& (b)
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Question 20 of 359
20. Question
1 pointsQID24:The “third party” policy under compulsory motor vehicle legislation and the third party policy of a Hong Kong motor insurer are:
Correct
The “third party” policy under compulsory motor vehicle legislation and the third party policy of a Hong Kong motor insurer are totally different, because the latter covers liability for property damage. The answer is D.
Incorrect
The “third party” policy under compulsory motor vehicle legislation and the third party policy of a Hong Kong motor insurer are totally different, because the latter covers liability for property damage. The answer is D.
Hint
References:1.1.(b)
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Question 21 of 359
21. Question
1 pointsQID25:In respect of compulsory motor death and injury liability, the minimum amount of cover required is:
Correct
The minimum amount of cover required in respect of third party death and injury liability is HK$100 million any one event. The answer is B.
Incorrect
The minimum amount of cover required in respect of third party death and injury liability is HK$100 million any one event. The answer is B.
Hint
References:1.1.(b)
-
Question 22 of 359
22. Question
1 pointsQID26:Which of the following statements about “act” insurance is true?
Correct
All statements are true. The answer is D.
Incorrect
All statements are true. The answer is D.
Hint
References:1.1.(b)
-
Question 23 of 359
23. Question
1 pointsQID27:Compulsory third party liability means:
Correct
The Ordinance, when referring to “third party” risks, means potential liability for death or injury only. Liability for property damage to third parties is not required by law. The answer is B.
Incorrect
The Ordinance, when referring to “third party” risks, means potential liability for death or injury only. Liability for property damage to third parties is not required by law. The answer is B.
Hint
References:1.1.(b)
-
Question 24 of 359
24. Question
1 pointsQID15:Which of the following forms of motor insurance only covers the liability required by law?
Correct
“Act” insurance only covers the liability required by law. The answer is A.
Incorrect
“Act” insurance only covers the liability required by law. The answer is A.
Hint
References:1.1.(b)
-
Question 25 of 359
25. Question
1 pointsQID29:”Act” insurance in Hong Kong motor insurance industry is:
Correct
“Act” insurance in Hong Kong motor insurance industry is of no importance in the insurer’s motor insurance business, because the coverage is so narrow, cannot expect somebody will buy it. The answer is D.
Incorrect
“Act” insurance in Hong Kong motor insurance industry is of no importance in the insurer’s motor insurance business, because the coverage is so narrow, cannot expect somebody will buy it. The answer is D.
Hint
References:1.1.(b)(iii)
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Question 26 of 359
26. Question
1 pointsQID30:Most motor insurance policies have a practice, that is, if the insured has not made a claim in the past year, in the coming year renewal he/she can get a discount on the premium. The most correct name for this practice is:
Correct
A significant and almost unique feature of motor insurance is the practice of granting a progressive discount, called the ” no claim discount” (NCD) or “claim free discount”, on the renewal annual premium if the preceding policy year has been claim-free. The answer is B.
Incorrect
A significant and almost unique feature of motor insurance is the practice of granting a progressive discount, called the ” no claim discount” (NCD) or “claim free discount”, on the renewal annual premium if the preceding policy year has been claim-free. The answer is B.
Hint
References:1.1.(c)
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Question 27 of 359
27. Question
1 pointsQID37:Under the motor insurance NCD mechanism, when the NCD has accumulated to a high level, the occurrence of a claim will not eliminate the NCD of the next year. This system is called:
Correct
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. The answer is B.
Incorrect
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. The answer is B.
Hint
References:1.1.(c)
-
Question 28 of 359
28. Question
1 pointsQID36:The so-called “step-back system” is most suitable for which of the following vehicles?
Correct
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount.
With other types of vehicles, a single claim will mean that there will not be any NCD in the forthcoming year and a fresh claim-free year will be needed to earn the minimum discount again.
The answer is C.
Incorrect
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount.
With other types of vehicles, a single claim will mean that there will not be any NCD in the forthcoming year and a fresh claim-free year will be needed to earn the minimum discount again.
The answer is C.
Hint
References:1.1.(c)
-
Question 29 of 359
29. Question
1 pointsQID35:Some insurance policies offer premium discounts to customers who do not file claims in the past. Which of the following is a correct description of the system?
(i) This is called “no claim discount”
(ii) For private cars, the discount rate is very high
(iii) There will be a premium discount if the previous year has been claim-free
(iv) There will be a refund of premium if the previous year has been claim-freeCorrect
A significant and almost unique feature of motor insurance is the practice of granting a progressive discount, called the “no claim discount” (NCD) or “claim free discount”, on the renewal annual premium if the preceding policy year has been claim-free.
A typical scale of NCD for private cars is such that one claim-free year earns a 20% NCD, the second year 30% and so on, rising to a maximum of 60% after five consecutive claim-free years. With other classes of vehicles, the scale of discount is very likely to start from 10%, rising to a maximum of 30% after three consecutive claim-free years.
The answer is C.
Incorrect
A significant and almost unique feature of motor insurance is the practice of granting a progressive discount, called the “no claim discount” (NCD) or “claim free discount”, on the renewal annual premium if the preceding policy year has been claim-free.
A typical scale of NCD for private cars is such that one claim-free year earns a 20% NCD, the second year 30% and so on, rising to a maximum of 60% after five consecutive claim-free years. With other classes of vehicles, the scale of discount is very likely to start from 10%, rising to a maximum of 30% after three consecutive claim-free years.
The answer is C.
Hint
References:1.1.(c)
-
Question 30 of 359
30. Question
1 pointsQID34:In private car insurance, the “step-back system” means:
Correct
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. For instance, with a four years’ entitlement (i.e. 50% NCD) for a policy year, a single claim during the
year will reduce the discount on renewal to 20%. The answer is C.Incorrect
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. For instance, with a four years’ entitlement (i.e. 50% NCD) for a policy year, a single claim during the
year will reduce the discount on renewal to 20%. The answer is C.Hint
References:1.1.(c)
-
Question 31 of 359
31. Question
1 pointsQID33:The NCD will be applied to private car insurance. When the private car gets the highest no claim discount, it will not cancel all the discounts due to a single claim. This operation is called:
Correct
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. For instance, with a four years’ entitlement (i.e. 50% NCD) for a policy year, a single claim during the
year will reduce the discount on renewal to 20%. The answer is C.Incorrect
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. For instance, with a four years’ entitlement (i.e. 50% NCD) for a policy year, a single claim during the
year will reduce the discount on renewal to 20%. The answer is C.Hint
References:1.1.(c)
-
Question 32 of 359
32. Question
1 pointsQID31:In the practice of motor insurance in Hong Kong, the no claim discount adopted by the insurer provides the highest discount rate to:
Correct
A typical scale of NCD for private cars is such that one claim-free year earns a 20% NCD, the second year 30% and so on, rising to a maximum of 60% after five consecutive claim-free years. With other classes of vehicles, the scale of discount is very likely to start from 10%, rising to a maximum of 30% after three consecutive claim-free years. The answer is B.
Incorrect
A typical scale of NCD for private cars is such that one claim-free year earns a 20% NCD, the second year 30% and so on, rising to a maximum of 60% after five consecutive claim-free years. With other classes of vehicles, the scale of discount is very likely to start from 10%, rising to a maximum of 30% after three consecutive claim-free years. The answer is B.
Hint
References:1.1.(c)
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Question 33 of 359
33. Question
1 pointsQID32:In motor insurance, when can we get a no claim discount?
Correct
A progressive discount on the renewal annual premium is offered if the preceding policy year has been claim-free. The answer is C.
Incorrect
A progressive discount on the renewal annual premium is offered if the preceding policy year has been claim-free. The answer is C.
Hint
References:1.1.(c)
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Question 34 of 359
34. Question
1 pointsQID38:In the “step-back system”, all discounts will not be cancelled due to a single claim, which is applicable to:
Correct
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. The answer is A.
Incorrect
With private cars, the NCD system operates on what is called a “step-back system”. This means that a single claim will not necessarily destroy an entitlement to next year’s discount. The answer is A.
Hint
References:1.1.(c)(ii)
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Question 35 of 359
35. Question
1 pointsQID39:Which of the following is unlikely to appear in the exclusions of most motor insurance policies?
Correct
Common exclusions/exceptions include the insured vehicle being used otherwise than in accordance with the specified limitations as to the use of the vehicle, war and nuclear risks, and contractual liability. The answer is C.
Incorrect
Common exclusions/exceptions include the insured vehicle being used otherwise than in accordance with the specified limitations as to the use of the vehicle, war and nuclear risks, and contractual liability. The answer is C.
Hint
References:1.1.(d)
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Question 36 of 359
36. Question
1 pointsQID40:Which of the following do you expect to be excluded from the exclusions for non-extended motor vehicle policies issued in Hong Kong?
Correct
The insurer may provide property insurance on the insured’s car.
Common exclusions/exceptions include accidents occurring outside the specified geographical area of cover.
An excess (or “deductible”) means that up to the stated amount of each loss is not insured.
The answer is A.
Incorrect
The insurer may provide property insurance on the insured’s car.
Common exclusions/exceptions include accidents occurring outside the specified geographical area of cover.
An excess (or “deductible”) means that up to the stated amount of each loss is not insured.
The answer is A.
Hint
References:1.1.(d)
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Question 37 of 359
37. Question
1 pointsQID41:How does motor insurance determine premiums?
Correct
All the options are the common rating features. The answer is D.
Incorrect
All the options are the common rating features. The answer is D.
Hint
References:1.1.(e)
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Question 38 of 359
38. Question
1 pointsQID42:Which of the following is not considered by the insurer in determining the premium of a comprehensive private car policy?
Correct
The common rating features do not include the sex of the insured. The answer is C.
Incorrect
The common rating features do not include the sex of the insured. The answer is C.
Hint
References:1.1.(e)
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Question 39 of 359
39. Question
1 pointsQID43:How to determine the premiums?
Correct
All the options are the common rating features. The answer is D.
Incorrect
All the options are the common rating features. The answer is D.
Hint
References:1.1.(e)
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Question 40 of 359
40. Question
1 pointsQID44:Which of the following statements about the standard excesses is incorrect?
Correct
One of the features of standard excesses is that they do not qualify for any discount on the premium. The answer is D.
Incorrect
One of the features of standard excesses is that they do not qualify for any discount on the premium. The answer is D.
Hint
References:1.1.(f)
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Question 41 of 359
41. Question
1 pointsQID45:There is a motor insurance policy excess that is required by the insured, usually in return for a discount on the policy. This excess is called:
Correct
A voluntary excess is requested by the insured, in return for a premium discount. The answer is B.
Incorrect
A voluntary excess is requested by the insured, in return for a premium discount. The answer is B.
Hint
References:1.1.(f)
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Question 42 of 359
42. Question
1 pointsQID46:Which of the following descriptions of the deductible is correct?
Correct
An excess (or “deductible”) means that up to the stated amount of each loss is not insured. The answer is A.
Incorrect
An excess (or “deductible”) means that up to the stated amount of each loss is not insured. The answer is A.
Hint
References:1.1.(f)
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Question 43 of 359
43. Question
1 pointsQID47:What is the “additional” deductible in motor insurance?
Correct
“Additional” deductibles in motor insurance are those applicable for the purpose of the undertaking subject to special conditions of insurance. The answer is C.
Incorrect
“Additional” deductibles in motor insurance are those applicable for the purpose of the undertaking subject to special conditions of insurance. The answer is C.
Hint
References:1.1.(f)&2.3.3
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Question 44 of 359
44. Question
1 pointsQID50:The “avoidance of certain terms and right of recovery” clause is applicable to which of the following circumstances?
Correct
There are situations where compulsory insurance requirements will not allow the insurer to deny policy liability for death or injury claims from third parties, even though there is a breach of policy terms on the part of the insured. The answer is A.
Incorrect
There are situations where compulsory insurance requirements will not allow the insurer to deny policy liability for death or injury claims from third parties, even though there is a breach of policy terms on the part of the insured. The answer is A.
Hint
References:1.1.(g)
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Question 45 of 359
45. Question
1 pointsQID48:The “avoidance of certain terms and right of recovery” clause applies to:
Correct
There are situations where compulsory insurance requirements will not allow the insurer to deny policy liability for death or injury claims from third parties, even though there is a breach of policy terms on the part of the insured. The answer is B.
Incorrect
There are situations where compulsory insurance requirements will not allow the insurer to deny policy liability for death or injury claims from third parties, even though there is a breach of policy terms on the part of the insured. The answer is B.
Hint
References:1.1.(g)
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Question 46 of 359
46. Question
1 pointsQID12:In which of the following situations can the “avoidance of certain terms and right of recovery” clause be used?
Correct
There are situations where compulsory insurance requirements will not allow the insurer to deny policy liability for death or injury claims from third parties, even though there is a breach of policy terms on the part of the insured. The answer is A.
Incorrect
There are situations where compulsory insurance requirements will not allow the insurer to deny policy liability for death or injury claims from third parties, even though there is a breach of policy terms on the part of the insured. The answer is A.
Hint
References:1.1.(g)
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Question 47 of 359
47. Question
1 pointsQID49:Which of the following is unlikely to involve the “avoidance of certain terms and right of recovery” clause in a motor insurance policy?
Correct
Most commonly this will arise where the insured fails to report an accident to the insurer, or admits liability to a third party without obtaining the insurer’s prior written consent. The answer is B.
Incorrect
Most commonly this will arise where the insured fails to report an accident to the insurer, or admits liability to a third party without obtaining the insurer’s prior written consent. The answer is B.
Hint
References:1.1.(g)
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Question 48 of 359
48. Question
1 pointsQID51:Which of the following is likely not to involve the “avoidance of certain terms and right of recovery” clause?
Correct
Most commonly this will arise where the insured fails to report an accident to the insurer, or admits liability to a third party without obtaining the insurer’s prior written consent.
In such cases, if the insured is liable to a third party, the insurer shall indemnify the third party notwithstanding the breach of the terms of the policy.
The answer is B.
Incorrect
Most commonly this will arise where the insured fails to report an accident to the insurer, or admits liability to a third party without obtaining the insurer’s prior written consent.
In such cases, if the insured is liable to a third party, the insurer shall indemnify the third party notwithstanding the breach of the terms of the policy.
The answer is B.
Hint
References:1.1.(g)&3.1.3 note
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Question 49 of 359
49. Question
1 pointsQID52:Which of the following does not fall under the major classes of motor vehicles?
Correct
Major classes of motor insurance include private vehicle, motor cycle and commercial vehicle. The answer is C.
Incorrect
Major classes of motor insurance include private vehicle, motor cycle and commercial vehicle. The answer is C.
Hint
References:1.1.1&1.1.2&1.1.3
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Question 50 of 359
50. Question
1 pointsQID53:In motor insurance, the use of private cars is:
Correct
Private car insurance is designed to cover the use of a car not primarily for carrying goods, but for the private use of the insured, or for carrying passengers not for hire or reward. The answer is B.
Incorrect
Private car insurance is designed to cover the use of a car not primarily for carrying goods, but for the private use of the insured, or for carrying passengers not for hire or reward. The answer is B.
Hint
References:1.1.1(a)
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Question 51 of 359
51. Question
1 pointsQID57:Which of the following is an exclusion in Hong Kong’s currently un-extended motor insurance coverage?
Correct
This loss of or damage to the insured vehicle (own damage) section of the comprehensive private car policy has some specific exclusions, such as consequential loss (e.g. the cost of hiring another vehicle, whilst the insured vehicle is undergoing repairs after an accident). The answer is B.
Incorrect
This loss of or damage to the insured vehicle (own damage) section of the comprehensive private car policy has some specific exclusions, such as consequential loss (e.g. the cost of hiring another vehicle, whilst the insured vehicle is undergoing repairs after an accident). The answer is B.
Hint
References:1.1.1(a)(i)
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Question 52 of 359
52. Question
1 pointsQID54:A car rolled over at high speed and the whole car was damaged. But it did not cause any death or injury. Which of the following types of insurance policies are eligible for compensation?
Correct
The scope of the comprehensive private car policy includes the loss of or damage to the insured vehicle. This is property insurance on an “all risks” basis, covering the insured’s car, and its accessories and spare parts whilst thereon, with indemnity limited to the reasonable market value of the car at the time of loss or damage. The answer is A.
Incorrect
The scope of the comprehensive private car policy includes the loss of or damage to the insured vehicle. This is property insurance on an “all risks” basis, covering the insured’s car, and its accessories and spare parts whilst thereon, with indemnity limited to the reasonable market value of the car at the time of loss or damage. The answer is A.
Hint
References:1.1.1(a)(i)
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Question 53 of 359
53. Question
1 pointsQID55:Which of the following is outside the scope of “own loss or damage” coverage of a Hong Kong motor insurance policy?
Correct
This loss of or damage to the insured vehicle (own damage) section of the comprehensive private car policy has some specific exclusions, such as: depreciation, wear and tear, and electrical or mechanical
breakdown. (NB depending on the wording used, it is normally loss or damage itself which is excluded, rather than loss or damage caused by “depreciation …”. Therefore, where the insured vehicle is destroyed as a result of a collision consequent upon wear and tear of its brakes, only the destruction of the brakes will be excluded. The answer is B.Incorrect
This loss of or damage to the insured vehicle (own damage) section of the comprehensive private car policy has some specific exclusions, such as: depreciation, wear and tear, and electrical or mechanical
breakdown. (NB depending on the wording used, it is normally loss or damage itself which is excluded, rather than loss or damage caused by “depreciation …”. Therefore, where the insured vehicle is destroyed as a result of a collision consequent upon wear and tear of its brakes, only the destruction of the brakes will be excluded. The answer is B.Hint
References:1.1.1(a)(i)
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Question 54 of 359
54. Question
1 pointsQID56:Which of the following examples of loss or damage is covered by a comprehensive private car policy?
Correct
This loss of or damage to the insured vehicle (own damage) section of the comprehensive private car policy has some specific exclusions, such as: depreciation, wear and tear, and electrical or mechanical
breakdown. (NB depending on the wording used, it is normally loss or damage itself which is excluded, rather than loss or damage caused by “depreciation …”. Therefore, where the insured vehicle is destroyed as a result of a collision consequent upon wear and tear of its brakes, only the destruction of the brakes will be excluded. The answer is D.Incorrect
This loss of or damage to the insured vehicle (own damage) section of the comprehensive private car policy has some specific exclusions, such as: depreciation, wear and tear, and electrical or mechanical
breakdown. (NB depending on the wording used, it is normally loss or damage itself which is excluded, rather than loss or damage caused by “depreciation …”. Therefore, where the insured vehicle is destroyed as a result of a collision consequent upon wear and tear of its brakes, only the destruction of the brakes will be excluded. The answer is D.Hint
References:1.1.1(a)(i)
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Question 55 of 359
55. Question
1 pointsQID58:The compulsory insurance cover of the legal liability of private cars is:
Correct
The compulsory insurance cover is usually for the minimum HK$100 million any one event required by law. The answer is A.
Incorrect
The compulsory insurance cover is usually for the minimum HK$100 million any one event required by law. The answer is A.
Hint
References:1.1.1(a)(ii)
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Question 56 of 359
56. Question
1 pointsQID59:The extensions of cover of motor insurance policies include:
Correct
A number of extensions of cover may be possible on payment of an extra premium. These include the deletion of a policy exclusion or adding benefits, such as extended personal accident cover, waiver of excess for third party property damage, etc.
The answer is D.Incorrect
A number of extensions of cover may be possible on payment of an extra premium. These include the deletion of a policy exclusion or adding benefits, such as extended personal accident cover, waiver of excess for third party property damage, etc.
The answer is D.Hint
References:1.1.1(b)(i)
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Question 57 of 359
57. Question
1 pointsQID60:Which of the following is the way to get a discount for private car insurance?
Correct
Apart from NCD and discounts for voluntary excesses, discounts may be available for insuring more than one car under the same policy, or whilst the insured car is “laid-up” (i.e. temporarily out of use) for a minimum period. The answer is D.
Incorrect
Apart from NCD and discounts for voluntary excesses, discounts may be available for insuring more than one car under the same policy, or whilst the insured car is “laid-up” (i.e. temporarily out of use) for a minimum period. The answer is D.
Hint
References:1.1.1(b)(iii)
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Question 58 of 359
58. Question
1 pointsQID63:Which of the following is not covered by a motor cycle policy?
Correct
There is neither a standard policy section for medical expenses nor an extended personal accident cover. The answer is D.
Incorrect
There is neither a standard policy section for medical expenses nor an extended personal accident cover. The answer is D.
Hint
References:1.1.2
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Question 59 of 359
59. Question
1 pointsQID62:In a motor cycle insurance policy, the exclusion of “own damage or accidental damage” includes:
(i) Loss due to motor cycle parts being stolen
(ii) Maintenance cost due to an accident
(iii) Medical expenses incurred by drivers due to accidental damage of insured vehicles
(iv) ExcessCorrect
-Theft claims are only admissible if the whole machine is stolen. Loss of accessories alone is therefore not covered.
-There is usually a standard excess in respect of any loss of or damage to the insured machine (other than that arising from fire or theft).
-There is neither a standard policy section for medical expenses nor an extended personal accident cover.
The answer is D.
Incorrect
-Theft claims are only admissible if the whole machine is stolen. Loss of accessories alone is therefore not covered.
-There is usually a standard excess in respect of any loss of or damage to the insured machine (other than that arising from fire or theft).
-There is neither a standard policy section for medical expenses nor an extended personal accident cover.
The answer is D.
Hint
References:1.1.2
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Question 60 of 359
60. Question
1 pointsQID61:Which of the following is not covered by a motor cycle policy?
Correct
There is neither a standard policy section for medical expenses nor an extended personal accident cover. The answer is D.
Incorrect
There is neither a standard policy section for medical expenses nor an extended personal accident cover. The answer is D.
Hint
References:1.1.2
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Question 61 of 359
61. Question
1 pointsQID64:Motor cycle insurance does not cover:
Correct
There is neither a standard policy section for medical expenses nor an extended personal accident cover. The answer is C.
Incorrect
There is neither a standard policy section for medical expenses nor an extended personal accident cover. The answer is C.
Hint
References:1.1.2 (c)
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Question 62 of 359
62. Question
1 pointsQID65:Which of the following applies to motor cycle insurance?
(i) A claim for theft can only be made if the whole motor cycle is stolen
(ii) No medical expense coverage is provided
(iii) There is a standard excess for losses caused by fire or theft
(iv) The highest no claim discount is lower than for private carsCorrect
There is usually a standard excess in respect of any loss of or damage to the insured machine (other than that arising from fire or theft). The answer is B.
Incorrect
There is usually a standard excess in respect of any loss of or damage to the insured machine (other than that arising from fire or theft). The answer is B.
Hint
References:1.1.2&(c)
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Question 63 of 359
63. Question
1 pointsQID66:Types of insurance purchased for some special vehicles (e.g. ambulances or bulldozers) are:
Correct
Specialized vehicles refer to the vehicles with unusual risk exposures, such as ambulances and vehicles used by undertakers, warrant special terms. The answer is C.
Incorrect
Specialized vehicles refer to the vehicles with unusual risk exposures, such as ambulances and vehicles used by undertakers, warrant special terms. The answer is C.
Hint
References:1.1.3 (a)
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Question 64 of 359
64. Question
1 pointsQID67:In Hong Kong, which of the following commercial vehicle insurance policies is more likely to cover the use of the vehicle as a tool of trade?
Correct
In Hong Kong, specialized vehicle insurance policies are more likely to cover the use of the vehicle as a tool of trade. The answer is C.
Incorrect
In Hong Kong, specialized vehicle insurance policies are more likely to cover the use of the vehicle as a tool of trade. The answer is C.
Hint
References:1.1.3 (a)(ii)
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Question 65 of 359
65. Question
1 pointsQID68:If a commercial vehicle is used for construction work at the same time, such as digging holes in the ground, the commercial vehicle policy may refuse to provide protection during this period of operation. This exclusion is referred to as:
Correct
For the use of the vehicle as a tool of trade (e.g. a mechanical digger whilst being used as such), this exclusion is known as the “tool of trade clause”. The answer is A.
Incorrect
For the use of the vehicle as a tool of trade (e.g. a mechanical digger whilst being used as such), this exclusion is known as the “tool of trade clause”. The answer is A.
Hint
References:1.1.3 (a)(ii)(1)
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Question 66 of 359
66. Question
1 pointsQID69:All types of motor insurance policies (except for the motor industry) have some general exclusions. Which of the following falls under the scope of exclusion?
Correct
Food poisoning and related claims (in case the vehicle is used as a mobile food-vending outlet) are excluded. The answer is D.
Incorrect
Food poisoning and related claims (in case the vehicle is used as a mobile food-vending outlet) are excluded. The answer is D.
Hint
References:1.1.3 (b)&
2.3.5(a)(ii) -
Question 67 of 359
67. Question
1 pointsQID71:As the business of the garage is mostly related to motor vehicles and has special needs, the protection provided by is also different. Such policies are called:
Correct
Motor trade risks refer to the garages and similar risks. Those whose business largely concerns motor vehicles, have special insurance needs. Policies for such risks may relate to the road use of vehicles or premises risks, with various combinations of cover available. The answer is A.
Incorrect
Motor trade risks refer to the garages and similar risks. Those whose business largely concerns motor vehicles, have special insurance needs. Policies for such risks may relate to the road use of vehicles or premises risks, with various combinations of cover available. The answer is A.
Hint
References:1.1.3 (b)(iv)
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Question 68 of 359
68. Question
1 pointsQID70:Garage and other similar risks may have special needs, including:
Correct
Motor trade risks refer to the garages and similar risks. Those whose business largely concerns motor vehicles, have special insurance needs. Policies for such risks may relate to the road use of vehicles or premises risks, with various combinations of cover available. The answer is C.
Incorrect
Motor trade risks refer to the garages and similar risks. Those whose business largely concerns motor vehicles, have special insurance needs. Policies for such risks may relate to the road use of vehicles or premises risks, with various combinations of cover available. The answer is C.
Hint
References:1.1.3 (b)(iv)
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Question 69 of 359
69. Question
1 pointsQID72:Health insurance falls under which of the following categories?
Correct
Health insurance (also known as “accident and health insurance”) is a type of “insurance of the person”, in the sense that the subject matter of the insurance is the life, limbs or health of a human being. The answer is B.
Incorrect
Health insurance (also known as “accident and health insurance”) is a type of “insurance of the person”, in the sense that the subject matter of the insurance is the life, limbs or health of a human being. The answer is B.
Hint
References:1.2.
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Question 70 of 359
70. Question
1 pointsQID75:The three main headings of the standard PA cover include lump sum benefits, medical expenses and:
Correct
PA cover may be described under three main headings including lump sum benefits, weekly benefits, and medical expenses. The answer is A.
Incorrect
PA cover may be described under three main headings including lump sum benefits, weekly benefits, and medical expenses. The answer is A.
Hint
References:1.2.1 (a)
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Question 71 of 359
71. Question
1 pointsQID73:Weekly benefits of personal accident policies can be withdrawn under which of the following circumstances?
Correct
Weekly benefits are periodic payments related to temporary total (i.e. 100%) disablement or temporary partial (i.e. less than 100%) disablement. The benefit is calculated weekly, but payments are usually made monthly during disablement, subject to a maximum period (say, 104 weeks) of payment. The answer is D.
Incorrect
Weekly benefits are periodic payments related to temporary total (i.e. 100%) disablement or temporary partial (i.e. less than 100%) disablement. The benefit is calculated weekly, but payments are usually made monthly during disablement, subject to a maximum period (say, 104 weeks) of payment. The answer is D.
Hint
References:1.2.1 (a)
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Question 72 of 359
72. Question
1 pointsQID74:Personal accident insurance was the first major class of accident insurance, originally developed to deal with a demand arising from the many accidents involving the early:
Correct
PA insurance was the first major class of accident insurance, originally developed to deal with a demand arising from the many accidents involving the early railways. The answer is B.
Incorrect
PA insurance was the first major class of accident insurance, originally developed to deal with a demand arising from the many accidents involving the early railways. The answer is B.
Hint
References:1.2.1 (a)
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Question 73 of 359
73. Question
1 pointsQID76:According to personal accident insurance policies, in which of the following situations is the weekly benefit usually paid?
Correct
Weekly benefits are periodic payments related to temporary total (i.e. 100%) disablement or temporary partial (i.e. less than 100%) disablement. The benefit is calculated weekly, but payments are usually made monthly during disablement, subject to a maximum period (say, 104 weeks) of payment. The answer is B.
Incorrect
Weekly benefits are periodic payments related to temporary total (i.e. 100%) disablement or temporary partial (i.e. less than 100%) disablement. The benefit is calculated weekly, but payments are usually made monthly during disablement, subject to a maximum period (say, 104 weeks) of payment. The answer is B.
Hint
References:1.2.1 (a) (i)
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Question 74 of 359
74. Question
1 pointsQID77:”Accidental bodily injury” in a personal accident policy is defined as:
Correct
The definition of accidental bodily injury frequently includes such words as “physical injury from accidental, external, violent and visible means”. Customary wording includes a phrase such as “solely and independently of any other cause result in ……”. The answer is D.
Incorrect
The definition of accidental bodily injury frequently includes such words as “physical injury from accidental, external, violent and visible means”. Customary wording includes a phrase such as “solely and independently of any other cause result in ……”. The answer is D.
Hint
References:1.2.1 (b) (i)
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Question 75 of 359
75. Question
1 pointsQID79:Whether in the form of a separate policy or part of a combination policy, the general exclusions covered by personal accident insurance are more likely to include:
Correct
Exclusions include suicide, deliberately self-inflicted injury and hazardous activities. The answer is D.
Incorrect
Exclusions include suicide, deliberately self-inflicted injury and hazardous activities. The answer is D.
Hint
References:1.2.1 (b) (v)
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Question 76 of 359
76. Question
1 pointsQID78:In which of the following circumstances does personal accident insurance require compensation?
(i) Suicide
(ii) Accidental death
(iii) Deliberately self-inflicted injury
(iv) Casualties caused by mountain climbingCorrect
Exclusions include suicide, deliberately self-inflicted injury and hazardous activities. The answer is B.
Incorrect
Exclusions include suicide, deliberately self-inflicted injury and hazardous activities. The answer is B.
Hint
References:1.2.1 (b) (v)
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Question 77 of 359
77. Question
1 pointsQID80:Personal accident insurance covers:
Correct
Anti-social activities, such as suicide, deliberately self-inflicted injury, abuse of alcohol or drugs (other than taking of drugs prescribed by a qualified medical
practitioner) are exclusions. The answer is C.Incorrect
Anti-social activities, such as suicide, deliberately self-inflicted injury, abuse of alcohol or drugs (other than taking of drugs prescribed by a qualified medical
practitioner) are exclusions. The answer is C.Hint
References:1.2.1 (b) (v) (3)
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Question 78 of 359
78. Question
1 pointsQID81:The basic factors for determining accident insurance premiums include:
Correct
Quite a number of individual features (e.g. age) may have underwriting consequences, but the standard premium calculation is based upon the insured’s occupation. The answer is D.
Incorrect
Quite a number of individual features (e.g. age) may have underwriting consequences, but the standard premium calculation is based upon the insured’s occupation. The answer is D.
Hint
References:1.2.1 (c)
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Question 79 of 359
79. Question
1 pointsQID82:Personal accident policies:
Correct
PA policies normally last for one year, renewal being a matter of mutual agreement. A cancellation clause is usually included to allow unilateral cancellation of the policy mid-term with premium refund, subject to prescribed notification to the other party. The answer is B.
Incorrect
PA policies normally last for one year, renewal being a matter of mutual agreement. A cancellation clause is usually included to allow unilateral cancellation of the policy mid-term with premium refund, subject to prescribed notification to the other party. The answer is B.
Hint
References:1.2.1 (d) (iv)
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Question 80 of 359
80. Question
1 pointsQID87:Which of the following is true of the lump sum benefits of personal accident insurance?
i. Compensation is expressed as a percentage of the principal sum insured
ii. Death or major injury merits a 100% benefit
iii. The total amount of multiple injuries may be more than 100%
iv. Specified injuries and related benefit distribution are often specified in the policyCorrect
Compensation is usually expressed as a percentage of a sum specified in the policy. Death merits a 100% benefit, so does any one of such specified major
injuries as loss of two limbs and total loss of sight. In addition, the specified injuries and related benefit distribution are often specified in the policy. The answer is B.Incorrect
Compensation is usually expressed as a percentage of a sum specified in the policy. Death merits a 100% benefit, so does any one of such specified major
injuries as loss of two limbs and total loss of sight. In addition, the specified injuries and related benefit distribution are often specified in the policy. The answer is B.Hint
References:1.2.1(a)
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Question 81 of 359
81. Question
1 pointsQID83:Which of the following is not routinely covered by personal accident insurance?
Correct
Lump sum benefits are single amounts payable in the event of death or other specified injury arising from an accident. The answer is B.
Incorrect
Lump sum benefits are single amounts payable in the event of death or other specified injury arising from an accident. The answer is B.
Hint
References:1.2.1(a)
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Question 82 of 359
82. Question
1 pointsQID84:Which of the following is not routinely covered by personal accident and sickness insurance?
Correct
PA cover may be described under three main headings, with the insured person sustaining a prescribed bodily injury as a
common criterion for policy liability: lump sum benefits, weekly benefits and medical expenses. The answer is D.Incorrect
PA cover may be described under three main headings, with the insured person sustaining a prescribed bodily injury as a
common criterion for policy liability: lump sum benefits, weekly benefits and medical expenses. The answer is D.Hint
References:1.2.1(a)
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Question 83 of 359
83. Question
1 pointsQID86:Which of the following is not covered by the personal accident and sickness policy?
Correct
PA cover may be described under three main headings, with the insured person sustaining a prescribed bodily injury as a
common criterion for policy liability: lump sum benefits, weekly benefits and medical expenses. The answer is C.Incorrect
PA cover may be described under three main headings, with the insured person sustaining a prescribed bodily injury as a
common criterion for policy liability: lump sum benefits, weekly benefits and medical expenses. The answer is C.Hint
References:1.2.1(a)
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Question 84 of 359
84. Question
1 pointsQID88:In a personal accident policy, under which of the following circumstances are weekly benefits most likely to be paid?
Correct
Weekly benefits are periodic payments related to temporary total (i.e. 100%) disablement or temporary partial (i.e. less than 100%) disablement. The answer is D.
Incorrect
Weekly benefits are periodic payments related to temporary total (i.e. 100%) disablement or temporary partial (i.e. less than 100%) disablement. The answer is D.
Hint
References:1.2.1(a)(ii)
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Question 85 of 359
85. Question
1 pointsQID89:Which of the following is the correct statement of the medical expenses covered by the personal accident insurance policy?
Correct
To be reimbursable, the medical expenses
incurred must arise from “bodily injury” rather than sickness and are subject to a limit any one event. The answer is C.Incorrect
To be reimbursable, the medical expenses
incurred must arise from “bodily injury” rather than sickness and are subject to a limit any one event. The answer is C.Hint
References:1.2.1(a)(Iii)
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Question 86 of 359
86. Question
1 pointsQID90:”Personal accident” insurance is required to make compensation for which of the following?
i. Suicide
ii. Accidental death
iii. Deliberately self-inflicted
iv. Casualties caused by mountain climbingCorrect
Suicide, deliberately self-inflicted injury, and hazardous activities are exclusions. The answer is B.
Incorrect
Suicide, deliberately self-inflicted injury, and hazardous activities are exclusions. The answer is B.
Hint
References:1.2.1(b)(v)
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Question 87 of 359
87. Question
1 pointsQID91:The age of the insured person under a personal accident policy:
Correct
Although premiums are not based on the age of the insured person, policies usually specify an insurable band of ages (e.g. 18 to 70 years for adult cover). The answer is A.
Incorrect
Although premiums are not based on the age of the insured person, policies usually specify an insurable band of ages (e.g. 18 to 70 years for adult cover). The answer is A.
Hint
References:1.2.1€(v)
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Question 88 of 359
88. Question
1 pointsQID92:Which of the following is/are likely to be the exclusion(s) of personal accident insurance?
Correct
All of these are exclusions. The answer is D.
Incorrect
All of these are exclusions. The answer is D.
Hint
References:1.2.1b(v)
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Question 89 of 359
89. Question
1 pointsQID93:Under the Hong Kong medical insurance mechanism, which of the following is covered:
Correct
Whereas PA insurance is primarily intended to provide a benefit to the insured in the event of death or injury from accident, medical insurances are intended to cover medical expenses arising from accident or sickness. The answer is A.
Incorrect
Whereas PA insurance is primarily intended to provide a benefit to the insured in the event of death or injury from accident, medical insurances are intended to cover medical expenses arising from accident or sickness. The answer is A.
Hint
References:1.2.2
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Question 90 of 359
90. Question
1 pointsQID94:Medical insurance covers:
Correct
Medical insurance is intended to cover medical expenses arising from accident or sickness. The answer is C.
Incorrect
Medical insurance is intended to cover medical expenses arising from accident or sickness. The answer is C.
Hint
References:1.2.2 (a)
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Question 91 of 359
91. Question
1 pointsQID95:In Hong Kong, the exclusions of a typical medical insurance do not include which of the following?
Correct
Special exclusions of medical insurance include congenital conditions, pre-existing (i.e. prior to insurance) conditions and
disabilities, birth control/infertility treatment, cosmetic surgery, routine medical examinations and check-ups, dental treatment (unless arising from an accident during policy period). The answer is D.Incorrect
Special exclusions of medical insurance include congenital conditions, pre-existing (i.e. prior to insurance) conditions and
disabilities, birth control/infertility treatment, cosmetic surgery, routine medical examinations and check-ups, dental treatment (unless arising from an accident during policy period). The answer is D.Hint
References:1.2.2(b)
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Question 92 of 359
92. Question
1 pointsQID96:In medical insurance, the most likely coverage includes:
Correct
Medical insurance is intended to cover medical expenses arising from accident or sickness.
Special exclusions of medical insurance include congenital conditions, pre-existing (i.e. prior to insurance) conditions and
disabilities, birth control/infertility treatment, cosmetic surgery, routine medical examinations and check-ups, dental treatment (unless arising from an accident during policy period).The answer is D.
Incorrect
Medical insurance is intended to cover medical expenses arising from accident or sickness.
Special exclusions of medical insurance include congenital conditions, pre-existing (i.e. prior to insurance) conditions and
disabilities, birth control/infertility treatment, cosmetic surgery, routine medical examinations and check-ups, dental treatment (unless arising from an accident during policy period).The answer is D.
Hint
References:1.2.2b
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Question 93 of 359
93. Question
1 pointsQID649:The objective of the VHIS is to:
Correct
The VHIS is designed to make it easier for consumers to access individual hospital insurance. The answer is B.
Incorrect
The VHIS is designed to make it easier for consumers to access individual hospital insurance. The answer is B.
Hint
References:1.2.3a
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Question 94 of 359
94. Question
1 pointsQID646:The Voluntary Health Insurance Scheme is implemented by:
Correct
The Voluntary Health Insurance Scheme (“VHIS”) is a policy initiative implemented by the Food and Health Bureau (“FHB”) of the Government. The answer is C.
Incorrect
The Voluntary Health Insurance Scheme (“VHIS”) is a policy initiative implemented by the Food and Health Bureau (“FHB”) of the Government. The answer is C.
Hint
References:1.2.3a
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Question 95 of 359
95. Question
1 pointsQID647:The Voluntary Health Insurance Scheme is to regulate:
Correct
The Voluntary Health Insurance Scheme (“VHIS”) is implemented by the Food and Health Bureau (“FHB”) of the Government to regulate individual indemnity hospital insurance products. The answer is B.
Incorrect
The Voluntary Health Insurance Scheme (“VHIS”) is implemented by the Food and Health Bureau (“FHB”) of the Government to regulate individual indemnity hospital insurance products. The answer is B.
Hint
References:1.2.3a
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Question 96 of 359
96. Question
1 pointsQID648:Is the Voluntary Health Insurance Scheme mandatory?
Correct
The Voluntary Health Insurance Scheme (“VHIS”) is a policy initiative implemented by the Food and Health Bureau (“FHB”) of the Government to regulate individual indemnity hospital insurance products, with voluntary participation by insurance companies and consumers. Under the VHIS, the participating insurance companies can offer indemnity hospital insurance plans (“IHIP”) that have been certified by the FHB (“Certified Plans”) for individual consumers to purchase voluntarily.
Insured persons under the VHIS must be Hong Kong residents (including holders of Hong Kong Identity Card) aged between 15 days and 80 years.
The answer is D.
Incorrect
The Voluntary Health Insurance Scheme (“VHIS”) is a policy initiative implemented by the Food and Health Bureau (“FHB”) of the Government to regulate individual indemnity hospital insurance products, with voluntary participation by insurance companies and consumers. Under the VHIS, the participating insurance companies can offer indemnity hospital insurance plans (“IHIP”) that have been certified by the FHB (“Certified Plans”) for individual consumers to purchase voluntarily.
Insured persons under the VHIS must be Hong Kong residents (including holders of Hong Kong Identity Card) aged between 15 days and 80 years.
The answer is D.
Hint
References:1.2.3a
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Question 97 of 359
97. Question
1 pointsQID652:What is the deduction ceiling for voluntary health insurance?
Correct
The deduction ceiling is $8,000 per insured person per year, irrespective of the number of policies that cover the insured person. However, there is no cap on the number of specified relatives who are eligible for tax deductions. The answer is B.
Incorrect
The deduction ceiling is $8,000 per insured person per year, irrespective of the number of policies that cover the insured person. However, there is no cap on the number of specified relatives who are eligible for tax deductions. The answer is B.
Hint
References:1.2.3b
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Question 98 of 359
98. Question
1 pointsQID651:Taxpayers are entitled to tax deductions for the purchase of the VHIS. For which of the following persons can Mr. Chen obtain the deduction for the insurance he purchased for them?
I. His ex-wife
II. His wife’s grandparents
III. His wife’s brothers
IV. His illegitimate childrenCorrect
Taxpayers are entitled to tax deductions under salaries tax and personal assessment for qualifying premiums they pay on or after 1 April 2019 for Certified Plans for themselves or any of their “specified relatives” – defined to cover the taxpayer’s
I. spouse
II. children
III. Taxpayer’s or his/her spouse’s grandparents, parents and siblingsIncorrect
Taxpayers are entitled to tax deductions under salaries tax and personal assessment for qualifying premiums they pay on or after 1 April 2019 for Certified Plans for themselves or any of their “specified relatives” – defined to cover the taxpayer’s
I. spouse
II. children
III. Taxpayer’s or his/her spouse’s grandparents, parents and siblingsHint
References:1.2.3b
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Question 99 of 359
99. Question
1 pointsQID650:Taxpayers are entitled to tax deductions for the purchase of the VHIS. For which of the following persons can Mr. Chen obtain the deduction for the insurance he purchased for them?
Correct
Taxpayers are entitled to tax deductions under salaries tax and personal assessment for qualifying premiums they pay on or after 1 April 2019 for Certified Plans for themselves or any of their “specified relatives” – defined to cover the taxpayer’s spouse and children and the taxpayer’s or his/her spouse’s grandparents, parents and siblings. The answer is D.
Incorrect
Taxpayers are entitled to tax deductions under salaries tax and personal assessment for qualifying premiums they pay on or after 1 April 2019 for Certified Plans for themselves or any of their “specified relatives” – defined to cover the taxpayer’s spouse and children and the taxpayer’s or his/her spouse’s grandparents, parents and siblings. The answer is D.
Hint
References:1.2.3b
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Question 100 of 359
100. Question
1 pointsQID675:Can VHIS consumers choose ward classes?
Correct
In the case of a Standard Plan, VHIS Providers should explain to consumers during the selling process and upon enquiry that all benefits described in the Standard Plan are not subject to any restriction in the choice of ward class. With Flexi Plans subject to restrictions in the choice of ward class, they should instead explain the targeted ward class and the details of benefit adjustment upon voluntary choice of higher ward classes, and that the insurance company will guarantee that such benefit adjustment will not apply in the event of involuntary ward upgrade, or to the Basic Benefits of the Flexi Plans (i.e. the coverage equivalent to the Standard Plan) in the event of voluntary ward upgrade. The answer is D.
Incorrect
In the case of a Standard Plan, VHIS Providers should explain to consumers during the selling process and upon enquiry that all benefits described in the Standard Plan are not subject to any restriction in the choice of ward class. With Flexi Plans subject to restrictions in the choice of ward class, they should instead explain the targeted ward class and the details of benefit adjustment upon voluntary choice of higher ward classes, and that the insurance company will guarantee that such benefit adjustment will not apply in the event of involuntary ward upgrade, or to the Basic Benefits of the Flexi Plans (i.e. the coverage equivalent to the Standard Plan) in the event of voluntary ward upgrade. The answer is D.
Hint
References:1.2.3c
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Question 101 of 359
101. Question
1 pointsQID657:VHIS providers shall comply with:
I. Registration Rules for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme
II. Voluntary Health Insurance Scheme Certified Plan Policy Template
III. Product Compliance Rules under the Ambit of the Voluntary Health Insurance Scheme
IV. Rules for the Sale of the Voluntary Health Insurance SchemeCorrect
The FHB has set out the scheme rules in a set of scheme documents for compliance by VHIS Providers:
(i) Registration Rules for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme;
(ii) Voluntary Health Insurance Scheme Certified Plan Policy Template;
(iii) Product Compliance Rules under the Ambit of the Voluntary Health Insurance Scheme;
(iv) Code of Practice for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme.
The answer is A.Incorrect
The FHB has set out the scheme rules in a set of scheme documents for compliance by VHIS Providers:
(i) Registration Rules for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme;
(ii) Voluntary Health Insurance Scheme Certified Plan Policy Template;
(iii) Product Compliance Rules under the Ambit of the Voluntary Health Insurance Scheme;
(iv) Code of Practice for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme.
The answer is A.Hint
References:1.2.3c
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Question 102 of 359
102. Question
1 pointsQID677:Which of the following organizations issued a guideline on medical insurance business to be applicable to all medical insurance business, including the VHIS, which will provide guidance on the expected standard and practices to ensure fair treatment of customers?
Correct
The IA issued a guideline on medical insurance business to be applicable to all medical insurance business, including the VHIS. The guideline will provide guidance on the expected standard and practices to ensure fair treatment of customers. The answer is B.
Incorrect
The IA issued a guideline on medical insurance business to be applicable to all medical insurance business, including the VHIS. The guideline will provide guidance on the expected standard and practices to ensure fair treatment of customers. The answer is B.
Hint
References:1.2.3c
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Question 103 of 359
103. Question
1 pointsQID653:The VHIS is administered by:
Correct
The VHIS is administered by the Voluntary Health Insurance Scheme Office (“VHIS Office”) of the FHB. The answer is B.
Incorrect
The VHIS is administered by the Voluntary Health Insurance Scheme Office (“VHIS Office”) of the FHB. The answer is B.
Hint
References:1.2.3c
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Question 104 of 359
104. Question
1 pointsQID666:Flexi plans can provide:
I. Basic benefits
II. Enhanced benefits
III. Other benefitsCorrect
A Flexi Plan must provide Enhanced Benefits in addition to the Basic Benefits.
Both Standard Plan and Flexi Plan may encompass a minor element of benefits other than Basic Benefits and Enhanced Benefits, namely Other Benefits.
The answer is D.
Incorrect
A Flexi Plan must provide Enhanced Benefits in addition to the Basic Benefits.
Both Standard Plan and Flexi Plan may encompass a minor element of benefits other than Basic Benefits and Enhanced Benefits, namely Other Benefits.
The answer is D.
Hint
References:1.2.3c
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Question 105 of 359
105. Question
1 pointsQID665:Standard plans can provide:
I. Basic benefits
II. Enhanced benefits
III. Other benefitsCorrect
A Standard Plan must offer terms and benefits equivalent to the minimum requirements of Certified Plans under the VHIS, namely Basic Benefits, as prescribed in the Policy Template.
Both Standard Plan and Flexi Plan may encompass a minor element of benefits other than Basic Benefits and Enhanced Benefits, namely Other Benefits.
A Flexi Plan must provide Enhanced Benefits in addition to the Basic Benefits.
The answer is C.
Incorrect
A Standard Plan must offer terms and benefits equivalent to the minimum requirements of Certified Plans under the VHIS, namely Basic Benefits, as prescribed in the Policy Template.
Both Standard Plan and Flexi Plan may encompass a minor element of benefits other than Basic Benefits and Enhanced Benefits, namely Other Benefits.
A Flexi Plan must provide Enhanced Benefits in addition to the Basic Benefits.
The answer is C.
Hint
References:1.2.3c
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Question 106 of 359
106. Question
1 pointsQID654:What are the requirements for insurance companies that seek to offer VHIS-compliant products?
Correct
Insurance companies seeking to offer VHIS-compliant products must first register as VHIS Providers and, before their Standard Plans and Flexi Plans (if offered) are marketed, each plan must have been successfully certified as a Certified Plan by the FHB. The answer is A.
Incorrect
Insurance companies seeking to offer VHIS-compliant products must first register as VHIS Providers and, before their Standard Plans and Flexi Plans (if offered) are marketed, each plan must have been successfully certified as a Certified Plan by the FHB. The answer is A.
Hint
References:1.2.3c
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Question 107 of 359
107. Question
1 pointsQID667:Other benefits are allowed to form part of a certified plan to:
Correct
Other benefits are allowed to form part of a Certified Plan to cater for the licensing requirement for long-term insurers to provide long-term insurance benefits (e.g. life insurance) in the individual IHIP they offer. The answer is A.
Incorrect
Other benefits are allowed to form part of a Certified Plan to cater for the licensing requirement for long-term insurers to provide long-term insurance benefits (e.g. life insurance) in the individual IHIP they offer. The answer is A.
Hint
References:1.2.3c
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Question 108 of 359
108. Question
1 pointsQID658:Which of the following documents illustrates the minimum requirements on the policy structure, terms and benefits of certified plans, including standard plans and flexi plans?
Correct
The Voluntary Health Insurance Scheme Certified Plan Policy Template(Policy Template) illustrates the minimum requirements on the policy structure, terms and benefits of Certified Plans, including Standard Plans and Flexi Plans. The answer is B.
Incorrect
The Voluntary Health Insurance Scheme Certified Plan Policy Template(Policy Template) illustrates the minimum requirements on the policy structure, terms and benefits of Certified Plans, including Standard Plans and Flexi Plans. The answer is B.
Hint
References:1.2.3c
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Question 109 of 359
109. Question
1 pointsQID674:Can VHIS consumers choose healthcare services providers?
Correct
In the case of a Standard Plan, VHIS Providers should explain to consumers during the selling process and upon enquiry that all benefits described in the Standard Plan are not subject to any restriction in the choice of healthcare services providers. With Flexi Plans subject to restrictions in the choice of healthcare services providers, they should instead explain the list of selected healthcare services providers, and that the restrictions are inapplicable to the Basic Benefits of the Flexi Plans, i.e. the coverage equivalent to the Standard Plan. The answer is D.
Incorrect
In the case of a Standard Plan, VHIS Providers should explain to consumers during the selling process and upon enquiry that all benefits described in the Standard Plan are not subject to any restriction in the choice of healthcare services providers. With Flexi Plans subject to restrictions in the choice of healthcare services providers, they should instead explain the list of selected healthcare services providers, and that the restrictions are inapplicable to the Basic Benefits of the Flexi Plans, i.e. the coverage equivalent to the Standard Plan. The answer is D.
Hint
References:1.2.3c
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Question 110 of 359
110. Question
1 pointsQID655:VHIS products can be divided into:
I. Standard plans
II. Nonstandard plans
III. Mandatory plans
IV. Flexi plansCorrect
VHIS products can be divided into standard plans and flexi plans. The answer is C.
Incorrect
VHIS products can be divided into standard plans and flexi plans. The answer is C.
Hint
References:1.2.3c
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Question 111 of 359
111. Question
1 pointsQID664:Compared with a standard plan, the terms and benefits of a plan will bring more protection to the customer, which is called a/an:
Correct
The design of Flexi Plans must adhere to the “better-off principle” entailing terms and benefits which will bring more protection to customers when compared with a Standard Plan. The answer is D.
Incorrect
The design of Flexi Plans must adhere to the “better-off principle” entailing terms and benefits which will bring more protection to customers when compared with a Standard Plan. The answer is D.
Hint
References:1.2.3c
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Question 112 of 359
112. Question
1 pointsQID663:Plans which offer terms and benefits equivalent to the minimum requirements of certified plans under the VHIS are called:
Correct
A standard plan must offer terms and benefits equivalent to the minimum requirements of Certified Plans under the VHIS, namely Basic Benefits, as prescribed in the Policy Template. The answer is C.
Incorrect
A standard plan must offer terms and benefits equivalent to the minimum requirements of Certified Plans under the VHIS, namely Basic Benefits, as prescribed in the Policy Template. The answer is C.
Hint
References:1.2.3c
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Question 113 of 359
113. Question
1 pointsQID662:Which of the following plans are certified plans according to the Product Compliance Rules under the Ambit of the Voluntary Health Insurance Scheme?
Correct
All Certified Plans must be individual IHIP. The following are some examples that are not deemed to be individual IHIP: group insurance plans with master policy for employees; outpatient insurance plans; non-indemnity insurance plans including hospital cash plans and critical illness cash plans; and indemnity insurance plans that cover specific illnesses (e.g. cancer) only. The answer is B.
Incorrect
All Certified Plans must be individual IHIP. The following are some examples that are not deemed to be individual IHIP: group insurance plans with master policy for employees; outpatient insurance plans; non-indemnity insurance plans including hospital cash plans and critical illness cash plans; and indemnity insurance plans that cover specific illnesses (e.g. cancer) only. The answer is B.
Hint
References:1.2.3c
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Question 114 of 359
114. Question
1 pointsQID661:Which of the following documents sets out the minimum product design requirements for an insurance plan to be certified as VHIS-compliant and the relevant product certification procedure?
Correct
The Product Compliance Rules under the Ambit of the Voluntary Health Insurance Scheme set out the minimum product design requirements for an insurance plan to be certified as VHIS-compliant and the relevant product certification procedure. The answer is C.
Incorrect
The Product Compliance Rules under the Ambit of the Voluntary Health Insurance Scheme set out the minimum product design requirements for an insurance plan to be certified as VHIS-compliant and the relevant product certification procedure. The answer is C.
Hint
References:1.2.3c
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Question 115 of 359
115. Question
1 pointsQID676:Benefits for diagnostic imaging tests are:
Correct
VHIS Providers should explain to consumers during the selling process and upon enquiry the coinsurance arrangement of prescribed diagnostic imaging tests under the Standard Plan, and the coinsurance and deductible arrangements approved by the FHB for eligible Flexi Plans, if any. The answer is D.
Incorrect
VHIS Providers should explain to consumers during the selling process and upon enquiry the coinsurance arrangement of prescribed diagnostic imaging tests under the Standard Plan, and the coinsurance and deductible arrangements approved by the FHB for eligible Flexi Plans, if any. The answer is D.
Hint
References:1.2.3c
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Question 116 of 359
116. Question
1 pointsQID659:The Voluntary Health Insurance Scheme Certified Plan Policy Template illustrates the minimum requirements on the ___, ___and ___ of certified plans.
I. Customer’s eligibility for insurance
II. Policy structure
III. Terms
IV. BenefitsCorrect
The Voluntary Health Insurance Scheme Certified Plan Policy Template(Policy Template) illustrates the minimum requirements on the policy structure, terms and benefits of Certified Plans, including Standard Plans and Flexi Plans. The answer is D.
Incorrect
The Voluntary Health Insurance Scheme Certified Plan Policy Template(Policy Template) illustrates the minimum requirements on the policy structure, terms and benefits of Certified Plans, including Standard Plans and Flexi Plans. The answer is D.
Hint
References:1.2.3c
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Question 117 of 359
117. Question
1 pointsQID673:With flexi plans subject to restrictions in territorial scope of cover, can hospitalization expenses abroad be covered?
Correct
With Flexi Plans subject to restrictions in territorial scope of cover, VHIS Providers should explain the definition of regions with restrictions and the benefit adjustment rules, and that the reduction is inapplicable to the Basic Benefits of the Flexi Plans, i.e. the coverage equivalent to the Standard Plan. The answer is C.
Incorrect
With Flexi Plans subject to restrictions in territorial scope of cover, VHIS Providers should explain the definition of regions with restrictions and the benefit adjustment rules, and that the reduction is inapplicable to the Basic Benefits of the Flexi Plans, i.e. the coverage equivalent to the Standard Plan. The answer is C.
Hint
References:1.2.3c
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Question 118 of 359
118. Question
1 pointsQID656:The products that can be marketed under the VHIS are called:
Correct
An individual IHIP must be certified by the FHB before it can be marketed as a certified plan. The answer is C.
Incorrect
An individual IHIP must be certified by the FHB before it can be marketed as a certified plan. The answer is C.
Hint
References:1.2.3c
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Question 119 of 359
119. Question
1 pointsQID669:Which of the following documents sets out the required conduct and practices covering product offering, migration arrangement, sales and marketing, handling of application, cooling-off period, after-sales services, etc. for VHIS providers to comply with so as to supplement the Policy Template?
Correct
The Code of Practice for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme sets out the required conduct and practices covering product offering, migration arrangement, sales and marketing, handling of application, cooling-off period, after-sales services, etc. for VHIS Providers to comply with so as to supplement the Policy Template. The answer is D.
Incorrect
The Code of Practice for Insurance Companies under the Ambit of the Voluntary Health Insurance Scheme sets out the required conduct and practices covering product offering, migration arrangement, sales and marketing, handling of application, cooling-off period, after-sales services, etc. for VHIS Providers to comply with so as to supplement the Policy Template. The answer is D.