M92 study materials & M92 exam preparation & M92 pass score

CII M92 : Insurance Business and Finance (IBF)

Exam Code: M92

Exam Name: Insurance Business and Finance (IBF)

Updated: Oct 03, 2026

Q & A: 84 Questions and Answers

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CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: The Insurance Market and Business Environment20-25- Structure of the insurance market
- Regulatory and legal framework
- Market competition and segmentation
- Insurance intermediaries and distribution channels
Topic 2: Financial Management of Insurers25-30- Financial statements and accounts
- Investment management
- Solvency II framework
- Capital management and solvency
- Premium reserves and claims reserves
Topic 3: Business Strategy and Operations10-15- Strategic planning for insurers
- Customer service and relationship management
- Technology and digital transformation
- Product development and management
Topic 4: Legal and Regulatory Requirements15-20- Consumer protection requirements
- Data protection and compliance
- Conduct of business regulation
- Prudential regulation
Topic 5: Underwriting and Pricing20-25- Risk assessment and classification
- Pricing factors and methods
- Claims handling overview
- Underwriting principles and process

CII Insurance Business and Finance (IBF) Sample Questions:

Question #1

Which management style would it be best to adopt during a period of radical change?

  • A. Democratic.
  • B. Paternalistic.
  • C. Autocratic.
  • D. Laissez-faire.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

At what level of information will the insurer's overall budget be categorised?

  • A. Transactional
  • B. Operational
  • C. Strategic
  • D. Tactical
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

What will the activities of an insurers finance director most likely include?

  • A. The technical pricing of new and existing products.
  • B. Supervising the actuarial function.
  • C. Preparation for reviews by rating agencies.
  • D. Managing the internal audit plan.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

An insurance company uses the double-entry accounting principle for recording insurance transactions to reflect that it has what?

  • A. Earned an amount of income which is balanced by an increase in cash.
  • B. Reduced its equity by paying a dividend.
  • C. Increased its liabilities without a change in assets.
  • D. Received a payment for a claim.
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #5

Which body exists to ensure that the London Market as a whole maintains and improves its position as a major worldwide insurance market?

  • A. The Franchise Board.
  • B. The Prudential Regulation Authority.
  • C. London Market Group.
  • D. The International Underwriting Association (IUA).
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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