CII M92 Valid Dump : Insurance Business and Finance (IBF)

M92 real exams

Exam Code: M92

Exam Name: Insurance Business and Finance (IBF)

Updated: Jul 26, 2026

Q & A: 84 Questions and Answers

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CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Understand insurance business management12%- Operational activities and controls
- Business objectives and strategy
- Underwriting and claims processes
Understand corporate governance principles12%- Risk management frameworks
- Governance structures and responsibilities
- Compliance and ethical requirements
Understand accounting principles and application18%- Income, expenditure and profit measurement
- Basic accounting concepts and standards
- Asset and liability recognition
Understand roles and functions within insurance organisations8%- Professional roles and responsibilities
- Key departments and their interactions
Analyse business performance using financial ratios10%- Interpretation and limitations of ratios
- Solvency and liquidity measures
- Profitability and efficiency ratios
Understand the structure of the insurance industry10%- Market distribution channels
- Regulatory framework and bodies
- Main sectors and participants
Understand financial strength of insurance companies10%- Reserving and risk capital
- Capital adequacy requirements
- Rating agencies and financial assessments
Understand insurance company accounts and standards10%- Solvency and capital reporting
- Statutory and regulatory reporting
- Specific accounting rules for insurers
Case studies integrating all learning outcomes10%

CII Insurance Business and Finance (IBF) Sample Questions:

1. What are an individual's rights Under the Data Protection Act concerning the right to have a copy of all records held on computer and paper concerning his motor insurance policy and its associated claims files.

A) He has a right to a copy of computerised records only.
B) He has no right to have a copy of any of the records held on him.
C) He has a right to a copy of all records on payment of a fee.
D) He has a right to a copy of all paper records only.


2. The internal rate of return is most commonly used to measure the...?

A) claims settlement time.
B) solvency coverage ratio.
C) viability of undertaking future projects.
D) current return on equity.


3. Which UK companies must have Articles of Association?

A) Only public limited companies.
B) Only companies with over 50 shareholders.
C) All those which are registered with Companies House.
D) Only those operating in the London Market.


4. The process by which a small business is set up as a registered company is known as..?

A) Horizontal diversification.
B) Incorporation.
C) Vertical integration.
D) Codification.


5. In what principal way has the UK's legal system influenced the growth of the international insurance market?

A) Many international insurance case precedents have been developed under English law.
B) Through the mandatory use of the London Market Group.
C) By requiring all international claims to be settled in London courts.
D) By providing tax incentives for foreign insurers.


Solutions:

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

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