Free CII IF1 Exam Dumps Questions & Answers

A Terms of Business Agreement between an insurer and an intermediary sets out the

• A.disaster recovery procedures to apply if there is a major disaster affecting the insurer.
• B.framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.
• C.criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.
• D.agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).

Julie has cancelled her trip to tlaly as she has broken her leg. Which type of insurance policy is specifically designed to compensate Julie for any cancellation charges she has incurred?

• A.An income protection insurance policy.
• B.A travel insurance policy.
• C.A personal accident and sickness insurance policy.
• D.A money insurance policy.

Under the provisions of the Financial Services Act 2012. what action, if any, can the regulator take against a firm that has committed money laundering offences?

• A.Criminal prosecution.
• B.No action can be taken.
• C.Arbitration.
• D.Civil proceedings.

A survey of a car repairers reveals a spray booth exists by an unguarded paraffin space beater. Also, a day's supply of paint is kept within the building and waste is removed daily from a metal bin. What will the underwriter perceive as the main physical hazard?

• A.The paint.
• B.The waste bin.
• C.The spray booth.
• D.The unguarded paraffin space heater.

Which professional body specialises in giving its members advice on the long-term management of assets and liabilities?

• A.The Chartered Institute of Loss Adjusters.
• B.The Lloyd's Market Association.
• C.The Institute and Faculty of Actuaries.
• D.The International Underwriting Association of London.