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CII IF1 Exam Overview:
| Certification Vendor: | The Chartered Insurance Institute (CII) |
|---|---|
| Exam Name: | Insurance, Legal and Regulatory (IF1) |
| Exam Number: | IF1 |
| Passing Score: | 70% |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Related Certifications: | Advanced Diploma in Insurance Certificate in Insurance Diploma in Insurance |
| Exam Format: | Multiple Choice Questions (MCQs) |
| Real Exam Qty: | 100 |
| Sample Questions: | CII IF1 Sample Questions |
| Exam Way: | Assessment entry includes an exam voucher valid for 18 months and is generally taken in person or via authorised testing centres |
| Official Syllabus URL: | https://www.cii.co.uk/learning/qualifications/unit-insurance-legal-and-regulatory-if1/ |
The IF1 certification is particularly valuable for individuals working in the insurance industry who are responsible for ensuring that their organization complies with legal and regulatory requirements. It is also useful for individuals working in legal or regulatory roles who need to understand the specific challenges and opportunities presented by the insurance industry.
The CII IF1 exam is split into two parts, with a total of 100 multiple-choice questions. Part one covers the principles of insurance law, including the different types of insurance, the principles of insurance contracts, and the legal and regulatory framework that governs insurance. Part two covers regulatory requirements, including the role of the FCA and PRA, conduct of business rules, and the principles of treating customers fairly.
CII IF1 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Insurance Fundamentals | - Know the structure and main features of the insurance market - Understand the main features of insurance |
| Topic 2: Principles of Contract and Agency | - Understand contract and agency - Understand the principle of insurable interest |
| Topic 3: Professional and Ethical Standards | - Understand the CII Code of Ethics and apply principles to non-complex scenarios |
| Topic 4: Regulation and Legal Requirements | - Know methods of preventing, handling and resolving consumer complaints - Understand consumer protection and dispute resolution - Understand main regulatory and legal requirements applicable to insurance business |
| Topic 5: Key Insurance Principles | - Understand the principle of indemnity - Understand the principles of contribution and subrogation - Understand the principle of good faith - Understand the doctrine of proximate cause |
| Topic 6: Risk and Risk Management | - Apply main features of risk and risk management to scenarios - Understand the nature and main features of risk within the insurance environment |
By Greg
