2023 Valid CII IF1: Related Insurance Legal and Regulatory (IF1) Exam Certifications

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CII IF1 certification exam is a valuable credential for professionals working in the insurance industry, including underwriters, claims handlers, brokers, and insurance agents. IF1 exam provides a comprehensive overview of the legal and regulatory environment in which the industry operates, helping candidates to develop a deeper understanding of the risks and opportunities facing the sector.

The IF1 exam is an essential qualification for anyone who works in the insurance industry, as it provides a solid foundation of knowledge and understanding of the legal and regulatory framework that underpins the industry. This qualification is highly respected by employers and is recognised as evidence of a candidate's commitment to professionalism and high standards of practice. By passing the IF1 exam, candidates demonstrate that they have the knowledge and skills necessary to succeed in their chosen career path within the insurance industry.

CII IF1 (Insurance Legal and Regulatory) exam is an important qualification for professionals working in the insurance industry. IF1 exam focuses on the legal and regulatory framework that governs the insurance industry in the UK. It covers topics such as the legal principles of insurance contracts, the regulatory requirements for insurance businesses, and the key legislation that impacts the industry.

Related IF1 Certifications

IF1 Valid Vce Dumps & IF1 Mock Exam

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CII Insurance Legal and Regulatory (IF1) Exam Sample Questions (Q79-Q84):

NEW QUESTION # 79
When should a direct insurer advise a policyholder in writing of its complaints-handling procedure, to comply with regulatory requirements?

A. Within 30 days of cover being incepted.
B. At the lime of a claim.
C. At the time of the sale or immediately afterwards.
D. Within 7 days of a complaint being made.

Answer: C

NEW QUESTION # 80
When an insurer is aware that the total value of stock is more than the sum insured and issues a policy on this basis, this is known as

A. a first loss policy.
B. a real statement.
C. a new for old policy.
D. an indemnity policy.

Answer: A

NEW QUESTION # 81
How is Insurance Premium Tax collected within the UK?

A. By the insurer on individual insurance contracts.
B. By HM Revenue Customs on the whole general account.
C. By the insurer on the whole general and life accounts.
D. By HM Revenue Customs on individual insurance contracts.

Answer: C

NEW QUESTION # 82
When motor insurance is purchased directly with an insurer, what is usually the main disadvantage to the policyholder in the event of a claim compared to purchasing indirectly through a different marketing channel?

A. The risk of losing a no claims discount is greater.
B. The policy excess is higher.
C. There is no intermediary to provide assistance.
D. A courtesy car is not available.

Answer: C

NEW QUESTION # 83
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. Coinsurance.
B. Self-insurance.
C. Dual insurance.
D. Reinsurance.

Answer: A

NEW QUESTION # 84
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