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CII IF1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Professional and Ethical Standards | - Understand the CII Code of Ethics and apply principles to non-complex scenarios |
| Topic 2: Key Insurance Principles | - Understand the principle of indemnity - Understand the principle of good faith - Understand the doctrine of proximate cause - Understand the principles of contribution and subrogation |
| Topic 3: Risk and Risk Management | - Understand the nature and main features of risk within the insurance environment - Apply main features of risk and risk management to scenarios |
| Topic 4: Principles of Contract and Agency | - Understand contract and agency - Understand the principle of insurable interest |
| Topic 5: Insurance Fundamentals | - Understand the main features of insurance - Know the structure and main features of the insurance market |
| Topic 6: Regulation and Legal Requirements | - Understand main regulatory and legal requirements applicable to insurance business - Know methods of preventing, handling and resolving consumer complaints - Understand consumer protection and dispute resolution |
CII Insurance Legal and Regulatory (IF1) Sample Questions:
Question 1
What type of organisation is the British Insurance Brokers' Association?
A. A public limited company.
B. A specialist regulator.
C. An educational body.
D. A trade body.
Question 2
Which general rule does the Contracts (Rights of Third Parties) Act 1999 seek to modify?
A. Subrogation.
B. Contra proferentem.
C. Privity of contract.
D. Good faith.
Question 3
An owner of a building reduces its sum insured from £1,000.000 lo £500.000 to save premiums. A Tire causes
£300,000 damage to the building. If the building has a reinstatement value of £750,000 and average is applied, how much will the insured receive in settlement?
A. £200.000
B. £150.000
C. £500.000
D. £300.000
Question 4
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. A travel insurance policy.
C. An income protection insurance policy.
D. A money insurance policy.
Question 5
What is the legal standing of the Charioted Insurance Institute's Code of Ethics?
A. It has full force of Jaw except where overridden by pre-existing Acts.
B. It does not have the force of law.
C. It has full stand-alone legal recognition.
D. It is to be applied in conjunction with existing Acts.
Solutions:
| Question 1 Answer: D | Question 2 Answer: C | Question 3 Answer: A | Question 4 Answer: B | Question 5 Answer: B |

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