CII M92 Q&A - in .pdf

  • Exam Code: M92
  • Exam Name: Insurance Business and Finance (IBF)
  • Q & A: 84 Questions and Answers
  • Printable CII M92 PDF Format. It is an electronic file format regardless of the operating system platform.
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CII M92 Q&A - Testing Engine

  • Exam Code: M92
  • Exam Name: Insurance Business and Finance (IBF)
  • Q & A: 84 Questions and Answers
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About CII Insurance Business and Finance (IBF) - M92 Exam

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CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Understand roles and functions within insurance organisations8%- Professional roles and responsibilities
- Key departments and their interactions
Topic 2: Understand insurance business management12%- Underwriting and claims processes
- Operational activities and controls
- Business objectives and strategy
Topic 3: Understand insurance company accounts and standards10%- Solvency and capital reporting
- Specific accounting rules for insurers
- Statutory and regulatory reporting
Topic 4: Case studies integrating all learning outcomes10%
Topic 5: Understand the structure of the insurance industry10%- Market distribution channels
- Regulatory framework and bodies
- Main sectors and participants
Topic 6: Understand corporate governance principles12%- Risk management frameworks
- Governance structures and responsibilities
- Compliance and ethical requirements
Topic 7: Analyse business performance using financial ratios10%- Solvency and liquidity measures
- Interpretation and limitations of ratios
- Profitability and efficiency ratios
Topic 8: Understand financial strength of insurance companies10%- Rating agencies and financial assessments
- Reserving and risk capital
- Capital adequacy requirements
Topic 9: Understand accounting principles and application18%- Asset and liability recognition
- Basic accounting concepts and standards
- Income, expenditure and profit measurement

CII Insurance Business and Finance (IBF) Sample Questions:

1. Which distribution channel for insurance most commonly offers white-labelled products?

A) Retailers
B) Investors
C) Consumers
D) Merchant Wholesalers


2. The balanced scorecard approach to measuring organisation performance has four perspectives. What are the four perspectives recommended by this approach?

A) Financial; internal business processes; learning & growth; customer.
B) Regulatory; solvency; liquidity; profitability.
C) Planning; organising; leading; controlling.
D) Shareholder; policyholder; employee; supplier.


3. Which document best gives an indication of a company's liquidity?

A) The balance sheet.
B) A cash flow statement.
C) The directors' report.
D) The income statement.


4. A business plan that focuses on the policies necessary over one to three years to implement key elements of strategy is called a[n]:

A) tactical plan.
B) contingency plan.
C) strategic plan.
D) operational plan.


5. Joe should advise the Board that if the IT department is to fulfil its role within the company, it must do what?

A) Operate independently from business units
B) Focus exclusively on reducing IT costs
C) Maintain legacy systems without replacement
D) Make a proactive contribution to the development of business strategy


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: B
Question # 4
Answer: A
Question # 5
Answer: D

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