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CII IF1 Exam Syllabus Topics:

SectionObjectives
Insurance Principles and Practice- Principles of insurance (insurable interest, utmost good faith, indemnity)
- Claims handling and underwriting basics
Insurance Regulation and Compliance- Regulatory framework in the UK (FCA and PRA)
- Conduct of business rules and consumer protection
- Ethics and professional standards
Agency and Insurance Practice- Principles of agency law
- Authority and responsibilities of agents and brokers
Insurance Market and Environment- Key participants and their roles (insurers, brokers, intermediaries)
- Types of insurance products and services
- Structure of the UK insurance market
Legal Principles Relevant to Insurance- Law of contract
  • 1. Formation of contracts
    • 2. Terms of contract and breach
      - Law of tort
      • 1. Negligence principles
        • 2. Duty of care and liability

          CII Insurance Legal and Regulatory (IF1) Sample Questions:

          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. moral hazard.
          • B. fundamental risk.
          • C. physical hazard.
          • D. pure risk.
          Reveal Solution  Discussion  0

          Correct Answer: C  🗳️

          What is the legal standing of the Charioted Insurance Institute's Code of Ethics?

          • A. It does not have the force of law.
          • B. It has full stand-alone legal recognition.
          • C. It has full force of Jaw except where overridden by pre-existing Acts.
          • D. It is to be applied in conjunction with existing Acts.
          Reveal Solution  Discussion  0

          Correct Answer: A  🗳️

          What are the other key components of risk apart from uncertainty?

          • A. Financial losses and speculation.
          • B. Financial losses.
          • C. The level of risk, peril and hazard.
          • D. Low severity losses and low frequency losses.
          Reveal Solution  Discussion  0

          Correct Answer: C  🗳️

          It is important to ensure the fair treatment of customers in order to comply with rules set by the

          • A. British Insurance Brokers' Association.
          • B. Association of British Insurers.
          • C. Chartered Insurance Institute.
          • D. Financial Conduct Authority.
          Reveal Solution  Discussion  0

          Correct Answer: D  🗳️

          Julie has cancelled her trip to tlaly as she has broken her leg. Which type of insurance policy is specifically designed to compensate Julie for any cancellation charges she has incurred?

          • A. A personal accident and sickness insurance policy.
          • B. A money insurance policy.
          • C. A travel insurance policy.
          • D. An income protection insurance policy.
          Reveal Solution  Discussion  0

          Correct Answer: C  🗳️

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