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CII M92 Exam Syllabus Topics:

CII Insurance Business and Finance (IBF) Sample Questions:

1. Joe should advise the Board that the underwriting administration services information currently in use is most commonly known as a?

A) Transaction Processing System
B) Codified Management System
C) Accounting Information System
D) Management Information System

2. Which body exists to ensure that the London Market as a whole maintains and improves its position as a major worldwide insurance market?

A) The Prudential Regulation Authority.
B) London Market Group.
C) The International Underwriting Association (IUA).
D) The Franchise Board.

3. The financial accounts differ to the management accounts that are produced internally within the insurer. This is because the financial accounts are?

A) primarily used for making pricing decisions
B) record the financial impact of events whereas management accounts provides forecasts
C) subject to statutory regulation and prescribed formats
D) produced to a higher standard of accuracy

4. What is the minimum period of notice which must be given by a company to its shareholders of the annual general meeting?

A) 60 days.
B) 14 days.
C) 30 days.
D) 21 days.

5. The senior managers of an insurance company are reviewing performance against a monthly requirement to have no IT downtime of greater than 30 minutes a quarter. They are reviewing what?

A) A budgetary variance
B) A key performance indicator
C) A strategic objective
D) Key risk indicator

Solutions: