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CII IF1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Insurance Principles and Practice | - Claims handling and underwriting basics - Principles of insurance (insurable interest, utmost good faith, indemnity) |
| Legal Principles Relevant to Insurance | - Law of tort
|
| Insurance Regulation and Compliance | - Conduct of business rules and consumer protection - Regulatory framework in the UK (FCA and PRA) - Ethics and professional standards |
| Insurance Market and Environment | - Types of insurance products and services - Structure of the UK insurance market - Key participants and their roles (insurers, brokers, intermediaries) |
| Agency and Insurance Practice | - Authority and responsibilities of agents and brokers - Principles of agency law |
CII Insurance Legal and Regulatory (IF1) Sample Questions:
1. A risk control survey shows that premises proposed for insurance are in close proximity to a river with a history of flooding. The underwriter will consider this fact to be a
A) pure risk.
B) physical hazard.
C) fundamental risk.
D) moral hazard.
2. When an insurer is aware that the total value of stock is more than the sum insured and issues a policy on this basis, this is known as
A) a new for old policy.
B) an indemnity policy.
C) a real statement.
D) a first loss policy.
3. To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?
A) To suitably experienced individuals only.
B) To suitably qualified individuals only.
C) To anyone able to fulfil the duties.
D) The agent cannot delegate her responsibility.
4. Michael, an insurance company employee, strongly suspects that a recent transaction involved money laundering but decides NOT to report his suspicions to anyone. How is this treated under the current Money Laundering Regulations?
A) It is a civil offence.
B) It is a disciplinary offence under the Banking Code.
C) It is a criminal offence.
D) It is a disciplinary offence dealt with by the Money Laundering Joint Steering Committee.
5. John has a whole of life policy and has recently been diagnosed with cancer. When, if at all. must he disclose this to his insurer?
A) At the date of the next premium payment.
B) Immediately, but only if the diagnosis is terminal.
C) He does not need to disclose this.
D) Immediately, irrespective of prognosis.
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: D | Question # 4 Answer: D | Question # 5 Answer: C |






