CII IF1 : Insurance Legal and Regulatory (IF1) Exam

  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: Aug 06, 2026
  • Q & A: 100 Questions and Answers

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CII IF1 Exam Syllabus Topics:

SectionObjectives
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
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
Professional and Ethical Standards- Understand the CII Code of Ethics and apply principles to non-complex scenarios
Principles of Contract and Agency- Understand contract and agency
- Understand the principle of insurable interest
Key Insurance Principles- Understand the principle of good faith
- Understand the principles of contribution and subrogation
- Understand the principle of indemnity
- Understand the doctrine of proximate cause
Insurance Fundamentals- Understand the main features of insurance
- Know the structure and main features of the insurance market

CII Insurance Legal and Regulatory (IF1) Sample Questions:

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

A) The policy cover details.
B) The premises.
C) The insured perils.
D) The policyholder.


2. From April 2019. a small company with nine employees is in dispute with its insurer and wishes to refer the matter to the Financial Ombudsman Service (FOS). The FOS is only permitted lo deal with the dispute if the insured's turnover does NOT exceed

A) £3,500,000
B) £6,000,000
C) £1,000,000
D) £6,500,000


3. What type of risk is a widespread natural disaster?

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


4. A house slatls to have subsidence problems due to the negligence of a cable-laying company. The owner of the house claims under his household buildings insurance policy. Which principle allows the insurer to recover from the cable-laying company?

A) Contribution.
B) Assignment.
C) Salvage.
D) Subrogation.


5. If an insurer invokes the cancellation clause to cancel a policy mid-year due to a change in the risk, how much of the premium, if anything, is normally returned to the policyholder?

A) The full year's premium.
B) The full year's premium less a fixed nominal charge.
C) None of the premium.
D) A pro rata amount.


Solutions:

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

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