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CII Insurance Legal and Regulatory (IF1) - IF1 real prep

IF1
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Aug 01, 2026
  • Q & A: 100 Questions and Answers
  • PDF Version

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  • PDF Price: $59.98
  • CII IF1 Value Pack

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  • Value Pack Total: $79.98

About CII IF1: Insurance Legal and Regulatory (IF1) Exam

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CII IF1 Exam Syllabus Topics:

SectionObjectives
Topic 1: 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 2: Principles of Contract and Agency- Understand the principle of insurable interest
- Understand contract and agency
Topic 3: Professional and Ethical Standards- Understand the CII Code of Ethics and apply principles to non-complex scenarios
Topic 4: Insurance Fundamentals- Know the structure and main features of the insurance market
- Understand the main features of insurance
Topic 5: Key Insurance Principles- Understand the principles of contribution and subrogation
- Understand the principle of indemnity
- Understand the principle of good faith
- Understand the doctrine of proximate cause
Topic 6: Regulation and Legal Requirements- Understand consumer protection and dispute resolution
- Understand main regulatory and legal requirements applicable to insurance business
- Know methods of preventing, handling and resolving consumer complaints

CII Insurance Legal and Regulatory (IF1) Sample Questions:

1. When Susan applied for a new household contents insurance policy, she was obliged to disclose her extensive claims history. Such details are normally known as

A) material circumstances.
B) indemnity.
C) warranties.
D) contractual terms.


2. Which general rule does the Contracts (Rights of Third Parties) Act 1999 seek to modify?

A) Subrogation.
B) Privity of contract.
C) Contra proferentem.
D) Good faith.


3. Insurers and intermediaries are required to adhere to solvency requirements as stipulated by the

A) European Union.
B) Association of British Insurers.
C) Financial Ombudsman Service.
D) Financial Services Compensation Scheme.


4. Who cedes business to a reinsurer?

A) The insured.
B) The insurer.
C) The agent.
D) The assessor.


5. What type of risk is a widespread natural disaster?

A) A fundamental risk.
B) A particular risk.
C) A speculative risk.
D) A pure risk.


Solutions:

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

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