Finally passed IF1 exam.
"Insurance Legal and Regulatory (IF1) Exam", also known as IF1 exam, is a CII Certification. With the complete collection of questions and answers, Pass4sureCert has assembled to take you through 100 Q&As to your IF1 Exam preparation. In the IF1 exam resources, you will cover every field and category in Certificate in Insurance Certification helping to ready you for your successful CII Certification.
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Price: $69.98
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Price: $69.98
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| Section | Weight | Objectives |
|---|---|---|
| Compulsory Insurance and Legislation | 3% | - Key relevant statutes - Statutory requirements for compulsory insurance |
| Principle of Indemnity | 7% | - Average clause application - Exceptions to indemnity - Methods of providing indemnity - Meaning and purpose of indemnity |
| Principle of Insurable Interest | 5% | - Definition and legal basis - When insurable interest must exist - Application in different insurance types |
| Ethics and Professional Standards | 3% | - Application to insurance scenarios - CII Code of Ethics |
| Contribution and Subrogation | 6% | - Right of subrogation and its limits - Right of contribution between insurers |
| Nature and Structure of Insurance | 14% | - Purpose and benefits of insurance - Market structures and distribution channels - Classification of insurance business - Participants in the insurance market |
| Principle of Utmost Good Faith | 11% | - Duty of disclosure and representation - Insurance Act 2015 provisions - Remedies for breach of duty |
| Consumer Protection and Dispute Resolution | 8% | - Complaints handling procedures - Consumer Insurance (Disclosure and Representations) Act 2012 - Financial Services Compensation Scheme (FSCS) - Financial Ombudsman Service (FOS) |
| Proximate Cause | 2% | - Definition and identification - Application to claims settlement |
| UK Regulatory Framework | 12% | - Role of PRA and FCA - ICOBS rules and conduct standards - Authorisation and supervision - Insurance Distribution Directive (IDD) |
| Risk and Insurance | 10% | - Features of insurable risk - Risk management and control methods - Concepts of risk and types of risk |
| Contract and Agency Law | 9% | - Application to insurance contracts - Essentials of a valid contract - Law of agency and authority |
When completing a proposal form, Tom declares that he has two spent speeding convictions. How, if at all, will the spent convictions affect an underwriter's decision to write the risk?
Correct Answer: A 🗳️
Which distribution channel for household insurance is typically characterised by high advertising and promotional costs, with no payment of commission?
Correct Answer: C 🗳️
If an insured signs an agreement with a hold harmless clause, this may prevent the insurer from
Correct Answer: C 🗳️
An intermediary needs to place a large properly risk, however the insurance company can only write 25% of the risk. What type of insurance arrangement would the intermediary require to complete the risk?
Correct Answer: B 🗳️
Reinsurance is usually purchased by the
Correct Answer: A 🗳️

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