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?

APublic Liability

BProduct Liability

CProfessional Indemnity

DProperty Insurance

Show Suggested Answer

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

3 months 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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Hollis

2 months ago

D) Property Insurance

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Micaela

2 months ago

C) Professional Indemnity

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Ashley

2 months ago

B) Product Liability

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Joanna

2 months ago

A) Public Liability

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Herminia

4 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

4 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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Gilberto

2 months ago

C) Professional Indemnity

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Ayesha

2 months ago

Professional Indemnity is definitely the best choice for Mark. It will protect him in case of any errors or omissions in his advice.

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Audra

2 months ago

D) Property Insurance

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Vi

2 months ago

C) Professional Indemnity

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Tonette

2 months ago

B) Product Liability

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Pearline

2 months ago

A) Public Liability

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Ceola

3 months ago

C) Professional Indemnity

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Alita

3 months ago

B) Product Liability

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Tamra

4 months ago

A) Public Liability

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Patrick

4 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

3 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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Reuben

3 months ago

D) Property Insurance

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Jennifer

3 months ago

C) Professional Indemnity

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Norah

4 months ago

B) Product Liability

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Keshia

4 months ago

A) Public Liability

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Dorathy

5 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

3 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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Mari

3 months ago

D) Property Insurance

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Brice

3 months ago

C) Professional Indemnity

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Tamekia

3 months ago

B) Product Liability

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Blondell

4 months ago

A) Public Liability

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Eleonora

5 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

5 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

5 months ago

I think Mark should have Professional Indemnity insurance.

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