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CIPS Exam L5M2 Topic 5 Question 47 Discussion

Actual exam question for CIPS's L5M2 exam
Question #: 47
Topic #: 5
[All L5M2 Questions]

An indemnity clause should contain which of the following pieces of information 1) duties of both parties 2) a monetary limit 3) insurance levels 4) details of the breach 5) a time limit

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Suggested Answer: A

The correct answers are as follows:

Nothing can be done to change this risk (you can't stop an earthquake from happening), so you therefore need to transfer the risk to another party, or include for this within a contract.


by Micaela at Oct 20, 2024, 12:15 AM

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Helaine
5 days ago
Haha, I'm glad I didn't choose D. Focusing only on the insurance levels, breach details, and time limit would be like trying to build a house without a foundation.
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Stevie
5 days ago
I was leaning towards B, but after thinking it through, I agree that A is the best choice. The insurance levels and details of the breach are also important, but not as critical as the other three elements.
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Fletcher
8 days ago
I think the correct answer is A. An indemnity clause should clearly outline the duties of both parties, a monetary limit, and a time limit.
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Dalene
8 days ago
But don't you think duties of both parties should be included in the indemnity clause?
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William
10 days ago
I disagree, I believe the answer is D) 3,4,5.
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Dalene
12 days ago
I think the answer is B) 1,3,4.
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