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CII M92 Exam Syllabus Topics:

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

CII Insurance Business and Finance (IBF) Sample Questions:

A lower liquidity calculation indicates that since last year the insurer's liquidity has...?

  • A. deteriorated.
  • B. remained stable.
  • C. no longer needs to be reported.
  • D. improved.
Answer: A

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Which distribution channel for insurance most commonly offers white-labelled products?

  • A. Investors
  • B. Merchant Wholesalers
  • C. Retailers
  • D. Consumers
Answer: C

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It has been deemed essential that the Information Technology (IT) department have a broad role, working closely with the business. If the IT department are to fulfil its role within the company, it must

  • A. report directly to the internal audit function.
  • B. outsource all non-core functions.
  • C. operate entirely independently from day-to-day operations.
  • D. make a proactive contribution to the development of business strategy.
Answer: D

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Which UK companies are required to report whether they are compliant with the UK Corporate Governance Code?

  • A. All financial services firms.
  • B. Only those listed on the London Stock Exchange.
  • C. Only composite insurers.
  • D. All companies registered with Companies House.
Answer: B

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The process by which a small business is set up as a registered company is known as..?

  • A. Vertical integration.
  • B. Codification.
  • C. Horizontal diversification.
  • D. Incorporation.
Answer: D

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