Free Online CII IF1 Practice Test

Prepare Your CII IF1 Exam Questions with Free online IF1 Practice Test. Get Brilliant Insurance Legal and Regulatory (IF1) Exam Results with Valid IF1 Exam Dumps.

Page: 1 / 21

Total 101 Questions | Updated On: May 15, 2024

Add To Cart

Question 1

Who cedes business to a reinsurer?

A : The insurer.

B : The assessor.

C : The agent.

D : The insured.

Answer: A

Question 2

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

A : Insurable interest.

B : Risk indemnity.

C : Vicarious liability.

D : Delegated authority.

Answer: A

Question 3

The purpose of the EU solvency requirements for insurers and intermediaries is to

A : create a standard format for the presentation of accounting data.

B : introduce monitoring procedures by the Prudential Regulation Authority.

C : provide authorisation to transact insurance business.

D : strengthen the financial security of the insurer or intermediary.

Answer: A

Question 4

If an insured signs an agreement with a hold harmless clause, this may prevent the insurer from

A : disclosing details to a third party.

B : reinsuring the risk.

C : pursuing subrogation rights.

D : increasing the premium.

Answer: C

Question 5

A policyholder achieves peace of mind when insuring his car by

A : eliminating the risk of loss.

B : reducing the chance of a loss occurring.

C : preventing the chance of a loss occurring.

D : transferring the risk to the insurer.

Answer: D

Page: 1 / 21

Total 101 Questions | Updated On: May 15, 2024

Add To Cart