CII Insurance Business and Finance (IBF) : M92

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CII Insurance Business and Finance (IBF) Sample Questions:

1. An insurer's Articles of Association must include

A) the audited financial statements.
B) the minutes of the last board meeting.
C) the premium rates for its top-selling products.
D) the regulations for the running of the insurer's internal affairs.

2. Under which Act would it be a civil offence if Mark were to sell his shares following information obtained in May?

A) Data Protection Act 2018
B) Companies Act 2006
C) Financial Services and Markets Act 2000
D) The Bribery Act 2010

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

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

4. Which management style would it be best to adopt during a period of radical change?

A) Paternalistic.
B) Democratic.
C) Autocratic.
D) Laissez-faire.

5. A lower liquidity calculation indicates that since last year the insurer's liquidity has...?

A) no longer needs to be reported.
B) remained stable.
C) deteriorated.
D) improved.

Solutions: