CII Insurance Business and Finance (IBF) : M92

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CII M92 Exam Syllabus Topics:

CII Insurance Business and Finance (IBF) Sample Questions:

1. Which document sets out a company's name and registered office?

A) The Chairman's Statement.
B) The Memorandum of Association.
C) The registration document / Certificate of Incorporation.
D) The Articles of Association.

2. To whom is financial accounting most useful?

A) Stakeholders.
B) The internal audit team.
C) Regulators only.
D) The underwriting department for technical pricing.

3. An individual's role is to set policy, monitor controls and check adherence to it. Where is this role most likely to fall within the 'three lines of defence' model of risk management?

A) The second line of defence.
B) The third line of defence.
C) The first line of defence.
D) The external auditor's remit.

4. A balance sheet records a company's what?

A) Cash inflows and outflows
B) Profit or loss for the year
C) Budgetary variances
D) Net financial position

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

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

Solutions: