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W01 CII Insurance Flashcards Test Questions with Correct Answers Graded A+ What is insurance? - Answers A contract transferring risk from an individual to an insurer. Define pure risk. - Answers A risk that only involves the possibility of loss or no loss, no gain. What is insurable interest? - Answers The financial interest a policyholder has in the insured subject. What is indemnity in insurance? - Answers Compensation to restore the insured to the same financial position as before the los...

CII R01 Chapter 5 Exam Questions and Answers Fully Solved Main regulators since 2013 - Answers Bank of England Prudential Regulation Authority Financial Conduct Authority Bank of England - Answers maintaining economic and financial STABILITY strategy at least every 3 years FPC monitors and takes action against systemic risks to PROTECT and is part of the bank of england Financial Policy Committee - Answers FPC part of bank of england monitors and takes action against systematic risks ...

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