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CII IF1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Principle of Insurable Interest | 5% | - When insurable interest must exist - Application in different insurance types - Definition and legal basis |
| UK Regulatory Framework | 12% | - Authorisation and supervision - Insurance Distribution Directive (IDD) - ICOBS rules and conduct standards - Role of PRA and FCA |
| Ethics and Professional Standards | 3% | - Application to insurance scenarios - CII Code of Ethics |
| Principle of Utmost Good Faith | 11% | - Insurance Act 2015 provisions - Remedies for breach of duty - Duty of disclosure and representation |
| Nature and Structure of Insurance | 14% | - Market structures and distribution channels - Participants in the insurance market - Classification of insurance business - Purpose and benefits of insurance |
| Principle of Indemnity | 7% | - Methods of providing indemnity - Meaning and purpose of indemnity - Exceptions to indemnity - Average clause application |
| Consumer Protection and Dispute Resolution | 8% | - Consumer Insurance (Disclosure and Representations) Act 2012 - Financial Ombudsman Service (FOS) - Financial Services Compensation Scheme (FSCS) - Complaints handling procedures |
| Proximate Cause | 2% | - Application to claims settlement - Definition and identification |
| Contract and Agency Law | 9% | - Law of agency and authority - Application to insurance contracts - Essentials of a valid contract |
| Contribution and Subrogation | 6% | - Right of subrogation and its limits - Right of contribution between insurers |
| Risk and Insurance | 10% | - Concepts of risk and types of risk - Risk management and control methods - Features of insurable risk |
| Compulsory Insurance and Legislation | 3% | - Key relevant statutes - Statutory requirements for compulsory insurance |
CII Insurance Legal and Regulatory (IF1) Sample Questions:
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. Reinsurance.
- B. Self-insurance.
- C. Dual insurance.
- D. Coinsurance.
Julie has cancelled her trip to tlaly as she has broken her leg. Which type of insurance policy is specifically designed to compensate Julie for any cancellation charges she has incurred?
- A. A personal accident and sickness insurance policy.
- B. An income protection insurance policy.
- C. A money insurance policy.
- D. A travel insurance policy.
An insured is temporarily disabled due to illness and unable to work. During this period, what type of insurance policy will typically pay a weekly benefit for up to two years?
- A. A personal accident and sickness insurance policy.
- B. A medical expenses insurance policy.
- C. An employers' liability insurance policy.
- D. A critical illness insurance policy.
An agent, acting outside the terms of her agency agreement, binds her principal to a contract with a third party who has reason to believe that the agent can act in that capacity. On what basis, if al all, is the principal bound by the agent's actions?
- A. Not at all.
- B. Necessity.
- C. Apparent authority.
- D. Consent.
In accordance with the principle of good faith, which facts must a potential policyholder disclose to the insurer when applying for insurance?
- A. Any facts of law.
- B. Any facts which are considered material to the risk.
- C. Only those facts considered likely to reduce the cost of cover
- D. Any facts which are in the public domain.
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