CII IF1 Q&A - in .pdf

  • IF1 pdf
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Jun 06, 2026
  • Q & A: 100 Questions and Answers
  • Convenient, easy to study.
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  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
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  • Updated: Jun 06, 2026
  • Q & A: 100 Questions and Answers
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  • Value Pack Total: $119.98  $79.99
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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: Jun 06, 2026
  • Q & A: 100 Questions and Answers
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IF1 Practice Dumps

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CII Insurance Legal and Regulatory (IF1) Sample Questions:

1. A Terms of Business Agreement between an insurer and an intermediary sets out the

A) disaster recovery procedures to apply if there is a major disaster affecting the insurer.
B) framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.
C) criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.
D) agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).


2. What are the other key components of risk apart from uncertainty?

A) The level of risk, peril and hazard.
B) Financial losses and speculation.
C) Low severity losses and low frequency losses.
D) Financial losses.


3. How does insurable interest arise, if at all. when an insurer arranges reinsurance?

A) The insurer is considered to have insurable interest by virtue of its liability to pay claims.
B) Insurable interest does not arise.
C) Insurable interest is created by statute.
D) The policyholder is considered to have assigned the insurable interest to the insurer.


4. What legally recognised financial relationship must exist, between a policyholder and the items being insured, to constitute a valid household contents insurance policy?

A) Delegated authority.
B) Vicarious liability.
C) Insurable interest.
D) Risk indemnity.


5. John and his wife arrange a household contents insurance policy in joint names with insurer A for a sum insured of £10,000. His wife arranges a second policy on the same basis with insurer B for a sum insured of
£20,000. Both policies have identical terms and conditions. What is insurer A's liability if a valid claim of
£3,000 is subsequently made?

A) £1,000
B) £2,000
C) £3,000
D) £1,500


Solutions:

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

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