Insurance Business Regulations
The three remedies for non-disclosure, who CIDRA applies to, and the adviser’s duty to explain disclosure requirements.
Key points
Must provide key product information in plain English Must tell customer about cancellation rights Cancellation rights (ICOBS 7): Right to cancel within 30 days for protection insurance (life, CI, inc…
Which term matches: "FCA Handbook sourcebook for non-investment insurance (general insurance and protection)"
What does "Applies to" mean?
Match each term in "Key points" to its meaning
Tap a term, then tap its matching definition.
Fill in the blank
______ — Written document explaining why the recommended policy meets the customer’s needs
What the exam tests
What a demands and needs statement is, the ICOBS cancellation periods, and the conduct standards for insurance sales. Consumer Insurance Act 2012 (CIDRA) (See also CeMAP 1 and CeMAP 2 entries)
True or false?
What a demands and needs statement is, the ICOBS cancellation periods, and the conduct standards for insurance sales
Key points
— Protection Context
Which term matches: "Customer must answer honestly and to the best of their knowledge"
What does "Non-disclosure" mean?
Match each term in "Key points" to its meaning
Tap a term, then tap its matching definition.
Fill in the blank
______ — insurer can void policy from inception; keep premiums
What the exam tests
The three remedies for non-disclosure, who CIDRA applies to, and the adviser’s duty to explain disclosure requirements.
True or false?
The three remedies for non-disclosure, who CIDRA applies to, and the adviser’s duty to explain disclosure requirements