Free Practice CII IF1 Exam Questions 2025

Stay ahead with 100% Free Insurance Legal and Regulatory (IF1) IF1 Dumps Practice Questions

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Total 101 Questions | Updated On: Apr 10, 2025

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Question 1

If a surveyor is sent lo survey a risk, what does risk primarily refer to in this context?

A : The policyholder.

B : The premises.

C : The policy cover details.

D : The insured perils.

Answer: B

Question 2

The purpose of the EU solvency requirements for insurers and intermediaries is to

A : create a standard format for the presentation of accounting data.

B : introduce monitoring procedures by the Prudential Regulation Authority.

C : provide authorisation to transact insurance business.

D : strengthen the financial security of the insurer or intermediary.

Answer: A

Question 3

Reinsurance is usually purchased by the

A : intermediary.

B : insurer.

C : regulator.

D : insured.

Answer: B

Question 4

If an insured signs an agreement with a hold harmless clause, this may prevent the insurer from

A : disclosing details to a third party.

B : reinsuring the risk.

C : pursuing subrogation rights.

D : increasing the premium.

Answer: C

Question 5

A policyholder achieves peace of mind when insuring his car by

A : eliminating the risk of loss.

B : reducing the chance of a loss occurring.

C : preventing the chance of a loss occurring.

D : transferring the risk to the insurer.

Answer: D

Page: 1 / 21

Total 101 Questions | Updated On: Apr 10, 2025

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