CII M92 Exam : Insurance Business and Finance (IBF)

CII M92 exam
  • Exam Code: M92
  • Exam Name: Insurance Business and Finance (IBF)
  • Updated: Sep 05, 2026
  • Q & A: 84 Questions and Answers
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CII M92 Exam Syllabus Topics:
SectionObjectives
Insurance Operations- Underwriting principles
- Claims handling process
Insurance and Business Environment- Role of insurers, intermediaries, and regulators
- Structure of the insurance market
Insurance Principles and Practice- Risk and insurance principles
- Policy structure and contract fundamentals
Financial Services and Markets- Financial system overview
- Insurance and capital markets interaction
Accounting and Financial Statements- Basic accounting concepts
- Interpreting financial statements
Risk Management and Regulation- Risk identification and control
- Regulatory framework in insurance
CII Insurance Business and Finance (IBF) Sample Questions:

Question 1

Which document best gives an indication of a company's liquidity?

A. The income statement.
B. The balance sheet.
C. A cash flow statement.
D. The directors' report.


Question 2

Standard & Poor's has placed its rating for the insurer under Creditwatch with a developing flag. what does this mean for the current rating?

A. The rating is withdrawn completely.
B. It will definitely be upgraded.
C. It will definitely be downgraded.
D. it may be raised, lowered or affirmed.


Question 3

What scope of risks within risk management is likely to be affected by the London office's financial issues and the need to sell off the New York office?

A. Operational
B. Group
C. Market
D. Strategic


Question 4

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. earned an amount of income which is balanced by an increase in cash.
C. created a new liability that reduces equity.
D. revalued its fixed assets.


Question 5

What is the minimum period of notice which must be given by a company to its shareholders of the annual general meeting?

A. 60 days.
B. 21 days.
C. 14 days.
D. 30 days.


Solutions:

Question 1
Answer: C
Question 2
Answer: D
Question 3
Answer: B
Question 4
Answer: B
Question 5
Answer: B

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