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CII M92 Exam Overview:
| Certification Vendor: | Chartered Insurance Institute (CII) |
|---|---|
| Exam Name: | CII M92 Insurance Business and Finance |
| Exam Number: | M92 |
| Certificate Validity Period: | No expiry (CII qualification does not expire) |
| Related Certifications: | Certificate in Insurance (Cert CII) |
| Available Languages: | English |
| Exam Duration: | 120 minutes |
| Real Exam Qty: | 100 |
| Passing Score: | 70% |
| Exam Format: | Computer-based exam, Multiple choice questions (MCQ) |
| Recommended Training: | CII Official Learning Resources |
| Exam Registration: | CII Official Exam Registration |
| Sample Questions: | CII M92 Sample Questions |
| Exam Way: | Computer-based exam delivered via test centre or online proctoring |
CII M92 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Insurance Operations | - Underwriting principles - Claims handling process |
| Accounting and Financial Statements | - Basic accounting concepts - Interpreting financial statements |
| Risk Management and Regulation | - Risk identification and control - Regulatory framework in insurance |
| Insurance Principles and Practice | - Risk and insurance principles - Policy structure and contract fundamentals |
| Financial Services and Markets | - Insurance and capital markets interaction - Financial system overview |
| Insurance and Business Environment | - Role of insurers, intermediaries, and regulators - Structure of the insurance market |
CII Insurance Business and Finance (IBF) Sample Questions:
The financial strength of an insurance company as measured by a ratings agency is always
- A. an endorsement of the company's ethical culture.
- B. a forward-looking forecast of premium growth.
- C. a measure of its ability to pay claims.
- D. a guarantee of the company's future stock price performance.
Correct Answer: C 🗳️
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An insurer intends to assess its position via a use test. This forms part of the rules relating to...?
- A. capital adequacy.
- B. financial accounting.
- C. double-entry bookkeeping.
- D. data protection.
Correct Answer: A 🗳️
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Mark is the managing director and Steve is the finance director of a firm of insurance brokers. They should be aware that:
- A. the company secretary has sole responsibility.
- B. only the managing director is responsible for filing accounts.
- C. they are both responsible for the submission of their accounts to Companies House.
- D. only the finance director holds statutory liability for the accounts.
Correct Answer: C 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
What is the primary function of financial accounting?
- A. To provide management with internal budgets.
- B. To ensure regulatory capital is minimized.
- C. To calculate the technical premium for products.
- D. To report the financial position to all stakeholders.
Correct Answer: D 🗳️
Explanation: Only visible for SurePassExams members. You can sign-up / login (it's free).
The use of claims development tables provides valuable information about the...?
- A. current market share.
- B. technical price for new business.
- C. prior estimates of outstanding amounts.
- D. speed of claim payments.
Correct Answer: C 🗳️
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