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CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Financial Management of Insurers25-30- Premium reserves and claims reserves
- Capital management and solvency
- Investment management
- Financial statements and accounts
- Solvency II framework
Business Strategy and Operations10-15- Strategic planning for insurers
- Product development and management
- Customer service and relationship management
- Technology and digital transformation
Legal and Regulatory Requirements15-20- Data protection and compliance
- Conduct of business regulation
- Prudential regulation
- Consumer protection requirements
Underwriting and Pricing20-25- Risk assessment and classification
- Underwriting principles and process
- Pricing factors and methods
- Claims handling overview
The Insurance Market and Business Environment20-25- Structure of the insurance market
- Regulatory and legal framework
- Market competition and segmentation
- Insurance intermediaries and distribution channels

CII Insurance Business and Finance (IBF) Sample Questions:

An insurance company uses the double-entry accounting principle for recording insurance transactions to reflect that it has what?

  • A. Earned an amount of income which is balanced by an increase in cash.
  • B. Reduced its equity by paying a dividend.
  • C. Increased its liabilities without a change in assets.
  • D. Received a payment for a claim.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

An individual's role is to set policy, monitor controls and check adherence to it. Where is this role most likely to fall within the 'three lines of defence' model of risk management?

  • A. The external auditor's remit.
  • B. The second line of defence.
  • C. The third line of defence.
  • D. The first line of defence.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Where, if at all, in the annual report accounts, must a statement appear from the London based chairman of the retail group?

  • A. In the directors' report
  • B. In the auditor's statement
  • C. It is not required
  • D. In the notes to the accounts
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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The term 'unearned premium' in UK's accounts will be shown as

  • A. an asset.
  • B. a liability.
  • C. a note to the accounts only.
  • D. shareholder equity.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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What would NOT typically be regarded as a part or component of all businesses?

  • A. Intellectual resources.
  • B. Human resources.
  • C. Financial resources.
  • D. Physical resources.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for ActualTestsIT members. You can sign-up / login (it's free).

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