CII IF1 - Insurance Legal and Regulatory (IF1) Exam

CII IF1 Actual PDF
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Sep 19, 2026
  • Q & A: 100 Questions and Answers
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About CII IF1 Exam

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CII IF1 Exam Syllabus Topics:

SectionObjectives
Insurance Regulation and Compliance- Conduct of business rules and consumer protection
- Ethics and professional standards
- Regulatory framework in the UK (FCA and PRA)
Agency and Insurance Practice- Authority and responsibilities of agents and brokers
- Principles of agency law
Insurance Market and Environment- Structure of the UK insurance market
- Types of insurance products and services
- Key participants and their roles (insurers, brokers, intermediaries)
Insurance Principles and Practice- Principles of insurance (insurable interest, utmost good faith, indemnity)
- Claims handling and underwriting basics
Legal Principles Relevant to Insurance- Law of contract
  • 1. Formation of contracts
    • 2. Terms of contract and breach
      - Law of tort
      • 1. Negligence principles
        • 2. Duty of care and liability

          CII Insurance Legal and Regulatory (IF1) Sample Questions:

          Question #1

          A risk control survey shows that premises proposed for insurance are in close proximity to a river with a history of flooding. The underwriter will consider this fact to be a

          • A. physical hazard.
          • B. moral hazard.
          • C. pure risk.
          • D. fundamental risk.
          Reveal Solution  Discussion  0

          Correct Answer: A  🗳️

          Question #2

          The website of an insurer must include the company's registered name, trading address, contact details and regulator. This is in accordance with rules enforced by the

          • A. Competition and Markets Authority.
          • B. Advertising Standards Authority.
          • C. Prudential Regulation Authority.
          • D. Financial Ombudsman Service.
          Reveal Solution  Discussion  0

          Correct Answer: D  🗳️

          Question #3

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

          • A. Risk indemnity.
          • B. Insurable interest.
          • C. Vicarious liability.
          • D. Delegated authority.
          Reveal Solution  Discussion  0

          Correct Answer: B  🗳️

          Question #4

          Sunita suffers a loss and makes a claim under her household contents insurance policy. When must insurable interest exist for her claim to be valid?

          • A. At the time of the loss only.
          • B. At policy inception only.
          • C. At the time of the proposal.
          • D. At policy inception and at the time of the loss.
          Reveal Solution  Discussion  0

          Correct Answer: D  🗳️

          Question #5

          Who is represented by a loss assessor?

          • A. A broker.
          • B. An underwriter.
          • C. A claims handler.
          • D. A policyholder.
          Reveal Solution  Discussion  0

          Correct Answer: D  🗳️

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