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CIPS Exam L5M3 Topic 1 Question 48 Discussion

Actual exam question for CIPS's L5M3 exam
Question #: 48
Topic #: 1
[All L5M3 Questions]

Mark is a consultant who works with building managers and advises them on how to make their buildings safer. What type of insurance should Mark have?

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Suggested Answer: C

The correct answer is: 'damages attempt to position the innocent party in the position that they would have been had the contract been performed as expected'. This is a quote from p. 121 Option1 is incorrect as unliquidated damages aren't stated in a contract. Option 2 is incorrect because liquidated damages are an assessment of damages before a breach. Option 4 is incorrect because not all breaches are caused by errors (they can be caused by negligence or the offending party withholding something).


by Yun at Mar 05, 2025, 02:42 AM

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Ira
28 days ago
Professional Indemnity all the way! Mark's gotta protect himself, especially when dealing with those building managers. They can be real characters, you know?
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Herminia
1 months ago
Professional Indemnity is the obvious choice here. Mark's clients are counting on his expertise, so he better have the right coverage.
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Anthony
1 months ago
Professional Indemnity is the way to go. I can't imagine Mark wants to risk his business over a simple slip-up in his advice.
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Ceola
17 hours ago
C) Professional Indemnity
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Alita
21 days ago
B) Product Liability
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Tamra
1 months ago
A) Public Liability
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Patrick
2 months ago
I'm going with Professional Indemnity as well. Building safety is a serious matter, and Mark needs to be protected from liability.
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Emile
18 hours ago
I'm going with Professional Indemnity as well. Building safety is a serious matter, and Mark needs to be protected from liability.
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Reuben
7 days ago
D) Property Insurance
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Jennifer
28 days ago
C) Professional Indemnity
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Norah
1 months ago
B) Product Liability
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Keshia
1 months ago
A) Public Liability
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Dorathy
2 months ago
As a consultant, Mark definitely needs Professional Indemnity insurance. This covers him for any mistakes or negligence in his advice.
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Carli
18 days ago
As a consultant, Mark definitely needs Professional Indemnity insurance. This covers him for any mistakes or negligence in his advice.
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Mari
20 days ago
D) Property Insurance
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Brice
21 days ago
C) Professional Indemnity
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Tamekia
22 days ago
B) Product Liability
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Blondell
1 months ago
A) Public Liability
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Eleonora
2 months ago
I think Mark should also consider Public Liability insurance to cover any accidents that may occur on the building premises.
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Wai
2 months ago
I agree with Linette. Professional Indemnity insurance would protect Mark in case of any errors or negligence in his advice.
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Linette
2 months ago
I think Mark should have Professional Indemnity insurance.
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