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CII IF1 real answers - Insurance Legal and Regulatory (IF1) Exam

IF1
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Jul 10, 2025
  • Q & A: 100 Questions and Answers
  • PDF Version

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  • PDF Price: $59.98
  • CII IF1 Value Pack

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  • PDF Version + PC Test Engine + Online Test Engine (free)
  • Value Pack Total: $79.98

About CII IF1 Exam guide

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CII Insurance Legal and Regulatory (IF1) Sample Questions:

1. John and his wife arrange a household contents insurance policy in joint names with insurer A for a sum insured of £10,000. His wife arranges a second policy on the same basis with insurer B for a sum insured of
£20,000. Both policies have identical terms and conditions. What is insurer A's liability if a valid claim of
£3,000 is subsequently made?

A) £3,000
B) £1,000
C) £2,000
D) £1,500


2. Which general rule does the Contracts (Rights of Third Parties) Act 1999 seek to modify?

A) Subrogation.
B) Privity of contract.
C) Contra proferentem.
D) Good faith.


3. Which distribution channel for household insurance is typically characterised by high advertising and promotional costs, with no payment of commission?

A) Direct insurers.
B) Independent brokers.
C) Lloyd's.
D) Appointed representatives.


4. A risk that is always insurable is a

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


5. Under the provisions of the Financial Services Act 2012. what action, if any, can the regulator take against a firm that has committed money laundering offences?

A) No action can be taken.
B) Criminal prosecution.
C) Arbitration.
D) Civil proceedings.


Solutions:

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

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