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CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Business Strategy and Operations10-15- Technology and digital transformation
- Customer service and relationship management
- Product development and management
- Strategic planning for insurers
Topic 2: Underwriting and Pricing20-25- Pricing factors and methods
- Risk assessment and classification
- Underwriting principles and process
- Claims handling overview
Topic 3: The Insurance Market and Business Environment20-25- Insurance intermediaries and distribution channels
- Regulatory and legal framework
- Structure of the insurance market
- Market competition and segmentation
Topic 4: Legal and Regulatory Requirements15-20- Prudential regulation
- Consumer protection requirements
- Conduct of business regulation
- Data protection and compliance
Topic 5: Financial Management of Insurers25-30- Financial statements and accounts
- Investment management
- Premium reserves and claims reserves
- Solvency II framework
- Capital management and solvency

CII Insurance Business and Finance (IBF) Sample Questions:

Question 1

What will the activities of an insurers finance director most likely include?

A. Supervising the actuarial function.
B. Preparation for reviews by rating agencies.
C. The technical pricing of new and existing products.
D. Managing the internal audit plan.


Question 2

Under the Solvency II rules, what is a calculation kernel?

A. The external auditor's primary testing tool.
B. The process for calculating a broker's commission.
C. The model used in the quantification of capital requirements for all risk categories.
D. A register of all IT hardware assets.


Question 3

A business plan that focuses on the policies necessary over one to three years to implement key elements of strategy is called a[n]:

A. tactical plan.
B. strategic plan.
C. operational plan.
D. contingency plan.


Question 4

How is an insurer's solvency coverage ratio calculated?

A. Net written premium divided by total assets.
B. Operating profit divided by total liabilities.
C. Profit after tax divided by earned premium.
D. Surplus regulatory capital divided by regulatory capital required.


Question 5

Where, if at all, must a statement from the chairman of the London office appear, in the annual report and accounts?

A. In the directors' report.
B. In the notes to the financial statements.
C. It is not required.
D. In the auditor's report.


Solutions:

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

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