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Exam Code: IF1

Exam Name: Insurance Legal and Regulatory (IF1) Exam

Updated: Jun 30, 2026

Number: 100 Q&As with Testing Engine

IF1 Free Demo download

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CII Insurance Legal and Regulatory (IF1) Sample Questions:

1. Lloyd's is known as a subscription market because

A) the underwriter assigns his signature individually to each risk.
B) a fee must be paid.
C) a number of syndicates accept a share of the same risk.
D) if an insurer writes a particular class, he is expected to subscribe to the majority of these risks.

2. Which key test for money laundering is defined under the Proceeds of Crime Act 2002?

A) Criminal record.
B) Criminal intelligence.
C) Criminal lifestyle.
D) Criminal possession.

3. What is the current rate of Insurance Premium Tax for a motor insurance policy?

A) 9.5%
B) 10%
C) 12%
D) 20%

4. Which general rule does the Contracts (Rights of Third Parties) Act 1999 seek to modify?

A) Good faith.
B) Contra proferentem.
C) Subrogation.
D) Privity of contract.

5. Julie has cancelled her trip to tlaly as she has broken her leg. Which type of insurance policy is specifically designed to compensate Julie for any cancellation charges she has incurred?

A) An income protection insurance policy.
B) A travel insurance policy.
C) A personal accident and sickness insurance policy.
D) A money insurance policy.

Solutions:

Question # 1
Answer: C

Question # 2
Answer: C

Question # 3
Answer: C

Question # 4
Answer: D

Question # 5
Answer: B

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100% CII IF1 Guaranteed Success With Testing Engine

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