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M92 PDF Practice Q&A's

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  • Total Questions: 84
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CII M92 Exam Syllabus Topics:

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

CII Insurance Business and Finance (IBF) Sample Questions:

Guidance given to a specific insurer by the PRA relating to the amount and quality of financial resources which it should hold in terms of capital requirements is termed

  • A. The Combined Operating Ratio.
  • B. A Key Risk Indicator.
  • C. The Solvency Coverage Ratio.
  • D. Individual Capital Guidance.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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What would NOT typically be regarded as a part or component of all businesses?

  • A. Physical resources.
  • B. Human resources.
  • C. Intellectual resources.
  • D. Financial resources.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for PrepAwayExam members. You can sign-up / login (it's free).

Which organisation's goal is to improve the long term profitability of all capital providers and monitor and guide managing agents?

  • A. The Financial Conduct Authority.
  • B. The Franchise Board.
  • C. Lloyd's Market Association.
  • D. The Prudential Regulation Authority.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for PrepAwayExam members. You can sign-up / login (it's free).

An insurer intends to assess its position via a use test. This forms part of the rules relating to...?

  • A. capital adequacy.
  • B. double-entry bookkeeping.
  • C. data protection.
  • D. financial accounting.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for PrepAwayExam members. You can sign-up / login (it's free).

Joe should advise the Board that if the IT department is to fulfil its role within the company, it must do what?

  • A. Maintain legacy systems without replacement
  • B. Focus exclusively on reducing IT costs
  • C. Make a proactive contribution to the development of business strategy
  • D. Operate independently from business units
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Explanation: Only visible for PrepAwayExam members. You can sign-up / login (it's free).

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