Flashcards
unit 22
Cards in this deck (10)
- 11. The General Directorate for Insurance and Pension Funds requires prior notification of the following information for certain transactions concerning insurance companies: a) Any taking, increasing or reducing of shares involving a change of control of 5% or more of the company’s share capital or voting rights. b) Any transaction that results in the stake of a partner in a company exceeding 20%, 30% or 50% of the share capital or voting rights. c) Any person or entity acquiring a dominant position within an insurance company. d) All of the above.d) All of the above.
- 22. The insurance policy subscribed by a non-approved entity acting as an insurer: a) Is void. b) Is valid under certain circumstances determined by the General Directorate for Insurance and Pension Funds. c) Is void. However, if the risk has already occurred, the entity will have to cover damages according to the terms of the policy subscribed, and other damages arising from the infringement. d) None of the above.c) Is void. However, if the risk has already occurred, the entity will have to cover damages according to the terms of the policy subscribed, and other damages arising from the infringement.
- 33. The policy fixes the duration of the contract that, except for the cases of life insurance: a) Cannot exceed five years. b) Cannot exceed ten years. c) Cannot exceed seven years. d) Cannot exceed fifteen years.b) Cannot exceed ten years.
- 44. For damages insurance, if the amount insured exceeds the value of the interest insured: a) Any party can seek a reduction of the amount and premium. b) Only the insured party can seek a reduction of the amount and premium. c) Only the insured party and the policyholder can seek a reduction of the amount and premium. d) Only the policyholder can seek a reduction of the amount and premium.a) Any party can seek a reduction of the amount and premium.
- 55. If a loss occurs and the increased risk was not communicated: a) The insurer is always released from its duties to pay if the policyholder or the insured. b) The insurer is only released from its duties to pay if the policyholder or the insured acted in bad faith. c) The insurer’s duties are proportionally reduced to the difference between the agreed premium and the one that would have been applied if the risk had been duly assessed. d) Answers b) and c) are correct.d) Answers b) and c) are correct.
- 66. As regards personal insurance, the policyholder, or the insured: a) Is obliged to inform of any variation in the insured’s health circumstances. b) Is not obliged to inform of any variation in the insured’s health circumstances, since in no case would it be considered as an increased risk. c) Is obliged to inform of any variation in the insured’s health circumstances, but only under certain circumstances determined by the General Directorate for Insurance and Pension Funds. d) Is not obliged to inform of any variation in the insured’s health circumstances, except under certain circumstances determined by the General Directorate for Insurance and Pension Funds.b) Is not obliged to inform of any variation in the insured’s health circumstances, since in no case would it be considered as an increased risk.
- 77. If the policyholder does not pay the first or single premium agreed in the insurance policy: a) The insurer can terminate the contract or request payment. b) The insurer can only terminate the contract. c) The coverage is suspended within one month from its due date. d) Answers b) and c) are correct.a) The insurer can terminate the contract or request payment.
- 88. The policyholder must inform the insurer of the loss: a) Within seven days of being aware of the loss. b) Within ten days of being aware of the loss. c) Within seven days of being aware of the loss (or later if agreed by the parties). d) Within ten days of being aware of the loss (or later if agreed by the parties).c) Within seven days of being aware of the loss (or later if agreed by the parties).
- 99. When two or more insurance contracts underwritten by the same policyholder with different insurers cover the same risk and the same period: a) The policyholder or the insured party must notify these circumstances to the insurers. b) The policyholder or the insured party must notify these circumstances to just one of the insurers. c) The policyholder or the insured party must not notify these circumstances to the insurers. d) The policyholder must notify these circumstances to the insured party.a) The policyholder or the insured party must notify these circumstances to the insurers.
- 1010. Under Spanish Law: a) Insured persons and liability insurers are deemed to be jointly and severally liable to the prejudiced party. b) Any prejudiced party may bring proceedings against the insured and his liability insurer or even against the insurer alone. c) Prejudiced third parties do not have a right to direct action against the insurer. d) Answers a) and b) are correct.d) Answers a) and b) are correct.
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- Derecho (Examen 2) Flashcards on unit 22, created by Helena Molina García on 22/11/2022.
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- Helena Molina García · Nov 2022
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- Nov 22, 2022
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