• Exam Code: M92
  • Exam Name: Insurance Business and Finance (IBF)
  • Certification Provider: CII
  • Corresponding Certification:Certificate in Insurance
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CII M92 Exam Syllabus Topics:

SectionObjectives
Topic 1: Insurance Operations- Claims handling process
- Underwriting principles
Topic 2: Accounting and Financial Statements- Interpreting financial statements
- Basic accounting concepts
Topic 3: Insurance and Business Environment- Role of insurers, intermediaries, and regulators
- Structure of the insurance market
Topic 4: Insurance Principles and Practice- Risk and insurance principles
- Policy structure and contract fundamentals
Topic 5: Financial Services and Markets- Financial system overview
- Insurance and capital markets interaction
Topic 6: Risk Management and Regulation- Regulatory framework in insurance
- Risk identification and control

CII Insurance Business and Finance (IBF) Sample Questions:

When an insurance company seeks to play a role in society via sponsorship and community projects, this is known as

  • A. codified management.
  • B. vertical integration.
  • C. horizontal diversification.
  • D. a stakeholder perspective.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Under the principles of the Data Protection Act 1988, unless adequate protection exists, personal data should not be transferred

  • A. To any loss adjuster.
  • B. To any underwriter.
  • C. Outside the EEA.
  • D. To the policyholder.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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To whom is financial accounting most useful?

  • A. Stakeholders.
  • B. The underwriting department for technical pricing.
  • C. The internal audit team.
  • D. Regulators only.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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In the context of management information systems, a control cycle is best described as the

  • A. process of encrypting sensitive client data.
  • B. training program for new IT staff.
  • C. full automation of the underwriting process.
  • D. comparison against a plan and production of reports by exception.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Which organisation's goal is to improve the long term profitability of all capital providers and monitor and guide managing agents?

  • A. Lloyd's Market Association.
  • B. The Franchise Board.
  • C. The Prudential Regulation Authority.
  • D. The Financial Conduct Authority.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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