LLQP Ethics & Professional Practice · Component 1.6 · 60% of the exam
For an accident and sickness claim under the statutory conditions, the claimant must:
- Give written notice within a stated period and proof of loss within a further period, with relief where not reasonably possible
- BDo nothing until benefits arrive, since the insurer is notified of the disability by the attending physician
- CWait one year before filing, since the statutory conditions require the disability to be established over time
- DRetain a lawyer before contacting the insurer, since the statutory conditions require formal service of the notice by a legal representative
Correct answer: A) Give written notice within a stated period and proof of loss within a further period, with relief where not reasonably possible
A&S claims have tighter procedural conditions than life claims; agents should explain them at delivery and at claim.
Why the other options are wrong
- BNotice and proof are required from the claimant.
- CWaiting a year would miss both deadlines.
- DHiring a lawyer is not a precondition to giving notice.
Exam tip
A&S: notice ~30 days, proof ~90 days, relief for reasonable delay.
Common mistake
Missing the proof-of-loss deadline.
What this tests
CISRO competency component 1.6 — Integrate into practice the legal aspects of insurance and annuity contracts — which is weighted at 60% of the Ethics & Professional Practice module. Written against the published curriculum.
More from component 1
- An 'assignee' of a life insurance policy is:
- A corporation as policyowner and beneficiary of a policy on a key employee:
- A 'trustee' named to receive proceeds on behalf of a beneficiary:
- The 'automatic premium loan' (APL) provision:
- A life insurance contract 'matures' when:
- The 'assignment' provision typically states that:
Practice the whole Ethics & Professional Practice module
Timed sets weighted like the exam, and review of every question you miss. Free to start.