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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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Dorathy
5 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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Eleonora
6 days 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
13 days 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
14 days ago
I think Mark should have Professional Indemnity insurance.
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