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CII M92 Exam Overview:
| Certification Vendor: | CII (Chartered Insurance Institute) |
|---|---|
| Exam Name: | Insurance Business and Finance (IBF) |
| Exam Number: | M92 |
| Exam Price: | £215.00 (approx., includes first entry and materials) |
| Exam Duration: | 90 minutes |
| Exam Format: | Multiple Choice Questions, Coursework Assignment, Case Study Based Questions |
| Passing Score: | 65% (exam), 60% (coursework) |
| Available Languages: | English |
| Certificate Validity Period: | 3 years from certification |
| Real Exam Qty: | 50 (25 standalone + 25 case-based) |
| Related Certifications: | Certificate in Insurance Advanced Diploma in Insurance |
| Recommended Training: | M92 Preparation Workshop M92 Study Text & Revision Materials |
| Exam Registration: | CII Official Registration |
| Sample Questions: | CII M92 Sample Questions |
| Exam Way: | Online remote proctored or on-site at approved test centres; coursework completed online via RevisionMate |
| Pre Condition: | No mandatory prerequisites; recommended for those working in insurance or related financial services |
| Official Syllabus URL: | https://www.ciigroup.org/learning/qualifications/diploma-in-insurance-qualification/unit-insurance-business-and-finance-m92/ |
CII M92 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Understand insurance company accounts and standards | 10% | - Statutory and regulatory reporting - Solvency and capital reporting - Specific accounting rules for insurers |
| Understand roles and functions within insurance organisations | 8% | - Professional roles and responsibilities - Key departments and their interactions |
| Analyse business performance using financial ratios | 10% | - Solvency and liquidity measures - Profitability and efficiency ratios - Interpretation and limitations of ratios |
| Understand accounting principles and application | 18% | - Asset and liability recognition - Basic accounting concepts and standards - Income, expenditure and profit measurement |
| Understand the structure of the insurance industry | 10% | - Market distribution channels - Regulatory framework and bodies - Main sectors and participants |
| Understand corporate governance principles | 12% | - Compliance and ethical requirements - Governance structures and responsibilities - Risk management frameworks |
| Case studies integrating all learning outcomes | 10% | |
| Understand financial strength of insurance companies | 10% | - Capital adequacy requirements - Rating agencies and financial assessments - Reserving and risk capital |
| Understand insurance business management | 12% | - Operational activities and controls - Underwriting and claims processes - Business objectives and strategy |
CII Insurance Business and Finance (IBF) Sample Questions:
The calculation kernel is an essential element of
- A. The Solvency II internal model capital assessment.
- B. The double-entry accounting system.
- C. Activity-based costing.
- D. A management information system's control cycle.
Correct Answer: A 🗳️
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Under the principles of the Data Protection Act 1988, unless adequate protection exists, personal data should not be transferred
- A. To the policyholder.
- B. To any underwriter.
- C. To any loss adjuster.
- D. Outside the EEA.
Correct Answer: D 🗳️
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Which type of activity in the Standard and Poor's insurance ratings framework is most likely to be classified as a modifier?
- A. Operating performance.
- B. Enterprise risk management.
- C. Competitive position.
- D. Capital adequacy.
Correct Answer: B 🗳️
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An insurance company uses the double-entry accounting principle for recording insurance transactions to reflect that it has
- A. paid a claim and reduced its asset base.
- B. created a new liability that reduces equity.
- C. earned an amount of income which is balanced by an increase in cash.
- D. revalued its fixed assets.
Correct Answer: C 🗳️
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The acquisition of a specialist panel of loss adjusters by an insurer is an example of what?
- A. Horizontal Diversification
- B. Conglomerate Diversification
- C. Horizontal Integration
- D. Vertical Integration
Correct Answer: D 🗳️
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