CII IF1 Exam : Insurance Legal and Regulatory (IF1) Exam

  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Oct 30, 2026
  • Q & A: 100 Questions and Answers

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CII IF1 Exam Syllabus Topics:

SectionObjectives
Topic 1: Professional and Ethical Standards- Understand the CII Code of Ethics and apply principles to non-complex scenarios
Topic 2: Insurance Fundamentals- Understand the main features of insurance
- Know the structure and main features of the insurance market
Topic 3: Key Insurance Principles- Understand the principle of indemnity
- Understand the principle of good faith
- Understand the doctrine of proximate cause
- Understand the principles of contribution and subrogation
Topic 4: Risk and Risk Management- Apply main features of risk and risk management to scenarios
- Understand the nature and main features of risk within the insurance environment
Topic 5: Principles of Contract and Agency- Understand contract and agency
- Understand the principle of insurable interest
Topic 6: Regulation and Legal Requirements- Know methods of preventing, handling and resolving consumer complaints
- Understand main regulatory and legal requirements applicable to insurance business
- Understand consumer protection and dispute resolution

CII Insurance Legal and Regulatory (IF1) Sample Questions:

Question #1

To whom, if anyone, can an agent normally delegate the responsibility imposed on net under an agency agreement?

  • A. To suitably qualified individuals only.
  • B. To suitably experienced individuals only.
  • C. The agent cannot delegate her responsibility.
  • D. To anyone able to fulfil the duties.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Question #2

If the amount to be paid in the event of a total loss of insured property is agreed between the proposer and the insurer at inception of the policy, this is a modification of the principle of

  • A. good faith.
  • B. subrogation.
  • C. contribution.
  • D. indemnity.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #3

How would an insurer's portfolio of motor claims be shown in terms of frequency and severity?

  • A. High frequency, low severity.
  • B. High frequency, high seventy.
  • C. Low frequency, low seventy.
  • D. Low frequency, high seventy.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Question #4

What type of reduction is sometimes applied to the replacement cost of an item under an insurance policy claim in order to reflect the application of indemnity?

  • A. Loss of interest.
  • B. Brokerage.
  • C. An excess.
  • D. Wear and tear.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

Question #5

Under the regulator's training and competency rules, a general insurance employee carrying out a non-WiFID business activity

  • A. for 10 years after the employee stops carrying out the activity.
  • B. indefinitely.
  • C. for 20 years after the employee stops carrying out the activity.
  • D. for 3 years after the employee stops carrying out the activity.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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