Insurance Legal and Regulatory (IF1) Exam: IF1 Exam

"Insurance Legal and Regulatory (IF1) Exam", also known as IF1 exam, is a CII Certification. With the complete collection of questions and answers, PrepPDF has assembled to take you through 100 Q&As to your IF1 Exam preparation. In the IF1 exam resources, you will cover every field and category in Certificate in Insurance Certification helping to ready you for your successful CII Certification.

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  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Certification Provider: CII
  • Corresponding Certification: Certificate in Insurance
  • Updated: Jul 19, 2026
  • No. of Questions: 100 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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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
Principles of Contract and Agency- Understand the principle of insurable interest
- Understand contract and agency
Professional and Ethical Standards- Understand the CII Code of Ethics and apply principles to non-complex scenarios
Key Insurance Principles- Understand the principle of indemnity
- Understand the principles of contribution and subrogation
- Understand the doctrine of proximate cause
- Understand the principle of good faith
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. The Financial Ombudsman Service will make a ruling on a dispute between

A) an insurance broker and an insurer.
B) an insurer and a reinsurer.
C) a private individual and an insurer.
D) a third party and the insurer against whom he is making a liability claim.


2. A Terms of Business Agreement between an insurer and an intermediary sets out the

A) framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.
B) criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.
C) disaster recovery procedures to apply if there is a major disaster affecting the insurer.
D) agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).


3. Reinsurance is usually purchased by the

A) regulator.
B) intermediary.
C) insured.
D) insurer.


4. Under common law. when does the insured's duly of fair presentation cease with regard to declarations that do NOT affect policy cover?

A) When a claim is submitted.
B) When a claim is paid.
C) At renewal.
D) When the policy contract lakes effect.


5. An intermediary needs to place a large properly risk, however the insurance company can only write 25% of the risk. What type of insurance arrangement would the intermediary require to complete the risk?

A) Self-insurance.
B) Coinsurance.
C) Dual insurance.
D) Reinsurance.


Solutions:

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

584 Customer ReviewsCustomers Feedback (* Some similar or old comments have been hidden.)

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