CII M92 : Insurance Business and Finance (IBF)

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CII M92 Exam Syllabus Topics:

CII Insurance Business and Finance (IBF) Sample Questions:

1. At what level of information will the insurer's overall budget be categorised?

A) Transactional
B) Operational
C) Strategic
D) Tactical

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

A) Codification.
B) Horizontal diversification.
C) Vertical integration.
D) Incorporation.

3. Under which Act would it be a civil offence if Mark were to sell his shares following information obtained in May?

A) Financial Services and Markets Act 2000.
B) The Criminal Justice Act 1993.
C) Companies Act 2006.
D) Data Protection Act 1998.

4. The term 'unearned premium' in UK's accounts will be shown as

A) a liability.
B) a note to the accounts only.
C) an asset.
D) shareholder equity.

5. In what principal way has the UK's legal system influenced the growth of the international insurance market?

A) By requiring all international claims to be settled in London courts.
B) Through the mandatory use of the London Market Group.
C) By providing tax incentives for foreign insurers.
D) Many international insurance case precedents have been developed under English law.

Solutions: