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CII M92 Exam Overview:
| Certification Vendor: | CII (Chartered Insurance Institute) |
| Exam Name: | Insurance Business and Finance (IBF) |
| Exam Number: | M92 |
| Exam Duration: | 90 minutes |
| Passing Score: | 65% (exam), 60% (coursework) |
| Related Certifications: | Certificate in Insurance Advanced Diploma in Insurance |
| Real Exam Qty: | 50 (25 standalone + 25 case-based) |
| Exam Price: | £215.00 (approx., includes first entry and materials) |
| Certificate Validity Period: | 3 years from certification |
| Exam Format: | Multiple Choice Questions, Case Study Based Questions, Coursework Assignment |
| Available Languages: | English |
| Recommended Training: | M92 Study Text & Revision Materials M92 Preparation Workshop |
| Exam Registration: | CII Official Registration |
| Sample Questions: | CII M92 Sample Questions |
| Exam Way: | Online remote proctored or on-site at approved test centres; coursework completed online via RevisionMate |
| Pre Condition: | No mandatory prerequisites; recommended for those working in insurance or related financial services |
| Official Syllabus URL: | https://www.ciigroup.org/learning/qualifications/diploma-in-insurance-qualification/unit-insurance-business-and-finance-m92/ |
CII M92 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Understand roles and functions within insurance organisations | 8% | - Professional roles and responsibilities - Key departments and their interactions |
| Topic 2: Understand insurance company accounts and standards | 10% | - Specific accounting rules for insurers - Solvency and capital reporting - Statutory and regulatory reporting |
| Topic 3: Case studies integrating all learning outcomes | 10% | |
| Topic 4: Understand accounting principles and application | 18% | - Income, expenditure and profit measurement - Asset and liability recognition - Basic accounting concepts and standards |
| Topic 5: Understand financial strength of insurance companies | 10% | - Capital adequacy requirements - Rating agencies and financial assessments - Reserving and risk capital |
| Topic 6: Analyse business performance using financial ratios | 10% | - Solvency and liquidity measures - Profitability and efficiency ratios - Interpretation and limitations of ratios |
| Topic 7: Understand insurance business management | 12% | - Business objectives and strategy - Operational activities and controls - Underwriting and claims processes |
| Topic 8: Understand the structure of the insurance industry | 10% | - Market distribution channels - Main sectors and participants - Regulatory framework and bodies |
| Topic 9: Understand corporate governance principles | 12% | - Risk management frameworks - Governance structures and responsibilities - Compliance and ethical requirements |
CII Insurance Business and Finance (IBF) Sample Questions:
1. An insurer intends to assess its position via a use test. This forms part of the rules relating to...?
A) double-entry bookkeeping.
B) financial accounting.
C) data protection.
D) capital adequacy.
2. How is an insurer's solvency coverage ratio calculated?
A) Profit after tax divided by earned premium.
B) Operating profit divided by total liabilities.
C) Surplus regulatory capital divided by regulatory capital required.
D) Net written premium divided by total assets.
3. It has been deemed essential that the Information Technology (IT) department have a broad role, working closely with the business. If the IT department are to fulfil its role within the company, it must
A) operate entirely independently from day-to-day operations.
B) report directly to the internal audit function.
C) outsource all non-core functions.
D) make a proactive contribution to the development of business strategy.
4. Which body exists to ensure that the London Market as a whole maintains and improves its position as a major worldwide insurance market?
A) London Market Group.
B) The Prudential Regulation Authority.
C) The International Underwriting Association (IUA).
D) The Franchise Board.
5. The financial strength of an insurance company as measured by a ratings agency is always what?
A) A measure of its market share
B) A guarantee of policyholder dividends
C) An assessment of stock price growth potential
D) A measure of it's ability to pay claims
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: D | Question # 4 Answer: A | Question # 5 Answer: D |
By Augus
