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CII IF1 Exam Syllabus Topics:

SectionObjectives
Insurance Principles and Practice- Claims handling and underwriting basics
- Principles of insurance (insurable interest, utmost good faith, indemnity)
Insurance Regulation and Compliance- Ethics and professional standards
- Regulatory framework in the UK (FCA and PRA)
- Conduct of business rules and consumer protection
Agency and Insurance Practice- Authority and responsibilities of agents and brokers
- Principles of agency law
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. Terms of contract and breach
    • 2. Formation of contracts
      - Law of tort
      • 1. Negligence principles
        • 2. Duty of care and liability

          CII Insurance Legal and Regulatory (IF1) Sample Questions:

          1. 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) Chartered Insurance Institute.
          C) Financial Conduct Authority.
          D) Association of British Insurers.


          2. The requirement 10 notify the fitting of a more powerful engine under a motor insurance policy is an example of a policy wording modifying the principle of

          A) indemnity.
          B) contribution.
          C) good faith.
          D) subrogation.


          3. What is the basis of settlement under a new for old insurance policy if a television is stolen?

          A) The replacement cost, less wear and tear.
          B) The replacement cost in full.
          C) The original cost in full.
          D) The original cost, less wear and tear.


          4. If an insurer invokes the cancellation clause to cancel a policy mid-year due to a change in the risk, how much of the premium, if anything, is normally returned to the policyholder?

          A) The full year's premium.
          B) None of the premium.
          C) The full year's premium less a fixed nominal charge.
          D) A pro rata amount.


          5. 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 money insurance policy.
          B) A travel insurance policy.
          C) A personal accident and sickness insurance policy.
          D) An income protection insurance policy.


          Solutions:

          Question # 1
          Answer: C
          Question # 2
          Answer: C
          Question # 3
          Answer: A
          Question # 4
          Answer: C
          Question # 5
          Answer: B

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