CII IF1 - Insurance Legal and Regulatory (IF1) Exam
- 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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| Section | Objectives |
|---|---|
| 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
|
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
Correct Answer: A 🗳️
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
Correct Answer: D 🗳️
What legally recognised financial relationship must exist, between a policyholder and the items being insured, to constitute a valid household contents insurance policy?
Correct Answer: B 🗳️
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?
Correct Answer: D 🗳️
Who is represented by a loss assessor?
Correct Answer: D 🗳️
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