CII M92 : Insurance Business and Finance (IBF)

  • Exam Code: M92
  • Exam Name: Insurance Business and Finance (IBF)
  • Updated: Sep 09, 2026     Q & A: 84 Questions and Answers

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Following are some reference material for actual CII M92 exam test

CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Legal and Regulatory Requirements15-20- Prudential regulation
- Conduct of business regulation
- Consumer protection requirements
- Data protection and compliance
Financial Management of Insurers25-30- Financial statements and accounts
- Capital management and solvency
- Premium reserves and claims reserves
- Solvency II framework
- Investment management
Underwriting and Pricing20-25- Underwriting principles and process
- Risk assessment and classification
- Pricing factors and methods
- Claims handling overview
Business Strategy and Operations10-15- Product development and management
- Technology and digital transformation
- Customer service and relationship management
- Strategic planning for insurers
The Insurance Market and Business Environment20-25- Structure of the insurance market
- Insurance intermediaries and distribution channels
- Market competition and segmentation
- Regulatory and legal framework

CII Insurance Business and Finance (IBF) Sample Questions:

Question #1

An insurer has committed a breach, under the General Data Protection Regulation (GDPR). Within what maximum period must the breach be reported to the Information Commissioner's office?

  • A. 7 calendar days.
  • B. 24 hours.
  • C. 30 calendar days.
  • D. 72 hours.
Answer: D

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Question #2

Standard & Poor's has placed its rating for the insurer under Creditwatch with a developing flag. what does this mean for the current rating?

  • A. It will definitely be downgraded.
  • B. It will definitely be upgraded.
  • C. it may be raised, lowered or affirmed.
  • D. The rating is withdrawn completely.
Answer: C

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Question #3

Where, if at all, in the annual report accounts, must a statement appear from the London based chairman of the retail group?

  • A. In the directors' report
  • B. In the auditor's statement
  • C. In the notes to the accounts
  • D. It is not required
Answer: D

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Question #4

What is the minimum period of notice which must be given by a company to its shareholders of the annual general meeting?

  • A. 14 days.
  • B. 60 days.
  • C. 30 days.
  • D. 21 days.
Answer: D

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Question #5

The plan to takeover NTU by ABC would need to be discussed and agreed by a majority of the ABC shareholders at

  • A. A meeting of the Franchise Board.
  • B. A board meeting without shareholder involvement.
  • C. The next annual general meeting.
  • D. An extraordinary meeting.
Answer: D

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