CII IF1 : Insurance Legal and Regulatory (IF1) Exam

IF1 real exams

Exam Code: IF1

Exam Name: Insurance Legal and Regulatory (IF1) Exam

Updated: Aug 11, 2026

Q & A: 100 Questions and Answers

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CII IF1 Exam Syllabus Topics:

SectionObjectives
Legal Principles Relevant to Insurance- Law of tort
  • 1. Duty of care and liability
    • 2. Negligence principles
      - Law of contract
      • 1. Formation of contracts
        • 2. Terms of contract and breach
          Insurance Regulation and Compliance- Ethics and professional standards
          - Conduct of business rules and consumer protection
          - Regulatory framework in the UK (FCA and PRA)
          Insurance Principles and Practice- Claims handling and underwriting basics
          - Principles of insurance (insurable interest, utmost good faith, indemnity)
          Insurance Market and Environment- Types of insurance products and services
          - Structure of the UK insurance market
          - Key participants and their roles (insurers, brokers, intermediaries)
          Agency and Insurance Practice- Authority and responsibilities of agents and brokers
          - Principles of agency law

          CII Insurance Legal and Regulatory (IF1) Sample Questions:

          1. A claim has arisen which is fully covered under insurer A's policy and insurer B's policy. Insurer A's policy has a sum insured of £30,000 and insurer B's policy has a sum insured of £50,000. What proportion of the claim is insurer B liable for if the principle of contribution applies on a rateable proportion by sum insured basis?

          A) Three eighths.
          B) Five eighths.
          C) Three fifths.
          D) Two fifths.


          2. What is the principal reason for which a proposer is asked by the insurer whether his car will be driven by anyone else?

          A) To enable a discount to be applied.
          B) To enable a loading to be applied.
          C) To establish whether insurable interest exists.
          D) It is a material circumstance.


          3. A Terms of Business Agreement between an insurer and an intermediary will normally state that the insurer will deal with the policyholder

          A) via the intermediary.
          B) on a direct basis,
          C) outside normal business hours,
          D) only when collecting premiums.


          4. Which typo of insurer is owned by multiple policyholders?

          A) A composite insurer.
          B) A captive insurer.
          C) A proprietary insurer.
          D) A mutual insurer.


          5. Under the Insurance: Conduct of Business sourcebook (ICOBS) on product disclosure, what information about the claims-handling process must an intermediary provide to a consumer?

          A) The number of days the settlement should take.
          B) The contact details of the insurer.
          C) The policy number only.
          D) The contact details of the loss adjuster used by the insurer.


          Solutions:

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

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