CII M92 Exam : Insurance Business and Finance (IBF)

M92
  • Exam Code: M92
  • Exam Name: Insurance Business and Finance (IBF)
  • Updated: Oct 14, 2026
  • Q & A: 84 Questions and Answers

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CII M92 Exam Syllabus Topics:

SectionObjectives
Insurance Principles and Practice- Policy structure and contract fundamentals
- Risk and insurance principles
Risk Management and Regulation- Risk identification and control
- Regulatory framework in insurance
Insurance and Business Environment- Role of insurers, intermediaries, and regulators
- Structure of the insurance market
Accounting and Financial Statements- Basic accounting concepts
- Interpreting financial statements
Financial Services and Markets- Insurance and capital markets interaction
- Financial system overview
Insurance Operations- Claims handling process
- Underwriting principles

CII Insurance Business and Finance (IBF) Sample Questions:

Question #1

The company secretary has responsibility for keeping the statutory registers. Which is NOT an example of a statutory register?

  • A. Register of members (shareholders).
  • B. Register of directors' interests in shares.
  • C. Register of directors.
  • D. Register of assets.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

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

  • A. Focus exclusively on reducing IT costs
  • B. Maintain legacy systems without replacement
  • C. Make a proactive contribution to the development of business strategy
  • D. Operate independently from business units
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

What scope of risks within risk management is likely to be affected by the London office's financial issues and the need to sell off the New York office?

  • A. Strategic
  • B. Market
  • C. Operational
  • D. Group
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

A balance sheet records a company's

  • A. NET financial position.
  • B. budget versus actual variances.
  • C. cash inflows and outflows.
  • D. profit or loss for the year.
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Correct Answer: A  🗳️

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Question #5

Which body exists to ensure that the London Market as a whole maintains and improves its position as a major worldwide insurance market?

  • A. The International Underwriting Association (IUA).
  • B. The Franchise Board.
  • C. London Market Group.
  • D. The Prudential Regulation Authority.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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