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CII M92 Exam Syllabus Topics:
| Section | Weight | Objectives |
| The Insurance Market and Business Environment | 20-25 | - Structure of the insurance market
- Market competition and segmentation
- Regulatory and legal framework
- Insurance intermediaries and distribution channels
|
| Financial Management of Insurers | 25-30 | - Investment management
- Financial statements and accounts
- Capital management and solvency
- Solvency II framework
- Premium reserves and claims reserves
|
| Legal and Regulatory Requirements | 15-20 | - Data protection and compliance
- Prudential regulation
- Conduct of business regulation
- Consumer protection requirements
|
| Business Strategy and Operations | 10-15 | - Customer service and relationship management
- Technology and digital transformation
- Product development and management
- Strategic planning for insurers
|
| Underwriting and Pricing | 20-25 | - Pricing factors and methods
- Risk assessment and classification
- Claims handling overview
- Underwriting principles and process
|
CII Insurance Business and Finance (IBF) Sample Questions:
1. An insurer is establishing its claims reserving policy on a discounted claims basis. This confirms that...
A) the insurer is insolvent
B) all claims will be paid more quickly
C) investment income is being taken into account
D) the reserve will be larger than an undiscounted reserve
2. An insurer intends to assess its position via a use test, to comply with proposed changes in regulations. This forms part of the rules relating to
A) capital adequacy.
B) anti-money laundering.
C) claims reserving.
D) financial accounting standards.
3. Standard & Poor's has placed its rating for the insurer under Creditwatch with a developing flag. what does this mean for the current rating?
A) The rating is withdrawn completely.
B) It will definitely be downgraded.
C) It will definitely be upgraded.
D) it may be raised, lowered or affirmed.
4. To whom is financial accounting most useful?
A) Regulators only.
B) Stakeholders.
C) The internal audit team.
D) The underwriting department for technical pricing.
5. The acquisition of a specialist panel of loss adjusters by an insurer is an example of what?
A) Vertical Integration
B) Conglomerate Diversification
C) Horizontal Integration
D) Horizontal Diversification
Solutions:
Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: A |