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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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Carey
2 months ago
I'm with Fletcher on this one. The indemnity clause is the backbone of the agreement, so it needs to cover the essential details to protect both parties.
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Telma
6 days ago
A) 1,2,5
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Helaine
2 months 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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Gregoria
2 months ago
User 2: I went with B, duties of both parties, insurance levels, and breach details.
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Elke
2 months ago
User 1: I chose A, duties of both parties, monetary limit, and a time limit.
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Stevie
2 months 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
2 months 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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Leatha
21 days ago
So, the correct answer is A) 1,2,5.
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Marge
1 months ago
I agree. Those are important components to have in an indemnity clause.
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Bambi
1 months ago
Yes, you're right. It should include duties of both parties, a monetary limit, and a time limit.
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Myra
2 months ago
I think the correct answer is A.
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Dalene
2 months ago
But don't you think duties of both parties should be included in the indemnity clause?
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William
2 months ago
I disagree, I believe the answer is D) 3,4,5.
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Dalene
2 months ago
I think the answer is B) 1,3,4.
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