CII IF1 Insurance Legal and Regulatory (IF1) Exam Online Training

CII IF1 Online Training

The questions for IF1 were last updated at Nov 19,2024.

Exam Code: IF1
Exam Name: Insurance Legal and Regulatory (IF1) Exam
Certification Provider: CII
Latest update: Nov 19,2024

Question #21

John has a whole of life policy and has recently been diagnosed with cancer.

When, if at all. must he disclose this to his insurer?

A . Immediately, irrespective of prognosis.
B . He does not need to disclose this.
C . Immediately, but only if the diagnosis is terminal.
D . At the date of the next premium payment.

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Question #22

The principle of indemnity is the

A . obligation of the insurer to provide a maximum sum insured or limit of liability.
B . placing of the insured, at expiry of a policy, in the same financial position as enjoyed at inception.
C . obligation of the insurer to pay all valid claims according to the terms and conditions of the policy.
D . placing of the insured, after a loss, in the same financial position as enjoyed immediately before the loss.

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Question #23

Peter currently has no penalty points on his driving licence, although he was convicted of a minor motoring offence eight years ago.

Why does Peter NOT need to disclose this to his motor insurer?

A . It represents a physical hazard.
B . It represents a moral hazard.
C . It is a spent conviction.
D . It is information that would not influence an underwriter.

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Question #24

A risk that is always insurable is a

A . fundamental risk.
B . pure risk.
C . speculative risk.
D . capital risk.

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Question #25

The requirement 10 notify the fitting of a more powerful engine under a motor insurance policy is an example of a policy wording modifying the principle of