CII IF1 Q&A - in .pdf

  • IF1 pdf
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Sep 17, 2026
  • Q & A: 100 Questions and Answers
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CII IF1 Value Pack
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  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • IF1 Online Testing Engine
    Online Testing Engine supports Windows / Mac / Android / iOS, etc., because it is the software based on WEB browser.
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  • Updated: Sep 17, 2026
  • Q & A: 100 Questions and Answers
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CII IF1 Q&A - Testing Engine

  • IF1 Testing Engine
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Sep 17, 2026
  • Q & A: 100 Questions and Answers
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CII IF1 Exam Syllabus Topics:

SectionWeightObjectives
Principle of Insurable Interest5%- Definition and legal basis
- Application in different insurance types
- When insurable interest must exist
Compulsory Insurance and Legislation3%- Statutory requirements for compulsory insurance
- Key relevant statutes
Proximate Cause2%- Application to claims settlement
- Definition and identification
Risk and Insurance10%- Concepts of risk and types of risk
- Features of insurable risk
- Risk management and control methods
Contribution and Subrogation6%- Right of subrogation and its limits
- Right of contribution between insurers
Nature and Structure of Insurance14%- Participants in the insurance market
- Classification of insurance business
- Market structures and distribution channels
- Purpose and benefits of insurance
Ethics and Professional Standards3%- Application to insurance scenarios
- CII Code of Ethics
Principle of Utmost Good Faith11%- Duty of disclosure and representation
- Remedies for breach of duty
- Insurance Act 2015 provisions
Principle of Indemnity7%- Average clause application
- Meaning and purpose of indemnity
- Exceptions to indemnity
- Methods of providing indemnity
Consumer Protection and Dispute Resolution8%- Complaints handling procedures
- Consumer Insurance (Disclosure and Representations) Act 2012
- Financial Services Compensation Scheme (FSCS)
- Financial Ombudsman Service (FOS)
UK Regulatory Framework12%- Role of PRA and FCA
- Insurance Distribution Directive (IDD)
- Authorisation and supervision
- ICOBS rules and conduct standards
Contract and Agency Law9%- Essentials of a valid contract
- Application to insurance contracts
- Law of agency and authority

CII Insurance Legal and Regulatory (IF1) Sample Questions:

Question #1

Who cedes business to a reinsurer?

  • A. The insurer.
  • B. The insured.
  • C. The agent.
  • D. The assessor.
Reveal Solution  Discussion  0

Correct Answer: A  πŸ—³οΈ

Question #2

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?

  • A. Self-insurance.
  • B. Dual insurance.
  • C. Reinsurance.
  • D. Coinsurance.
Reveal Solution  Discussion  0

Correct Answer: D  πŸ—³οΈ

Question #3

How is Insurance Premium Tax collected within the UK?

  • A. By HM Revenue & Customs on the whole general account.
  • B. By HM Revenue & Customs on individual insurance contracts.
  • C. By the insurer on the whole general and life accounts.
  • D. By the insurer on individual insurance contracts.
Reveal Solution  Discussion  0

Correct Answer: C  πŸ—³οΈ

Question #4

What type of risk is a widespread natural disaster?

  • A. A speculative risk.
  • B. A particular risk.
  • C. A pure risk.
  • D. A fundamental risk.
Reveal Solution  Discussion  0

Correct Answer: D  πŸ—³οΈ

Question #5

When Susan applied for a new household contents insurance policy, she was obliged to disclose her extensive claims history. Such details are normally known as

  • A. contractual terms.
  • B. material circumstances.
  • C. indemnity.
  • D. warranties.
Reveal Solution  Discussion  0

Correct Answer: B  πŸ—³οΈ

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