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CII Insurance Business and Finance (IBF) Sample Questions:

1. A public limited company which has a year end of 31 December must file their accounts by the following:

A) 31 December.
B) 30 September.
C) 30 June.
D) 31 March.

2. An insurer has committed a breach, under the General Data Protection Regulation (GDPR). Within what maximum period must the breach be reported to the Information Commissioner's office?

A) 7 calendar days.
B) 24 hours.
C) 30 calendar days.
D) 72 hours.

3. The plan to takeover NTU by ABC would need to be discussed and agreed by a majority of the ABC shareholders at

A) A board meeting without shareholder involvement.
B) The next annual general meeting.
C) A meeting of the Franchise Board.
D) An extraordinary meeting.

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

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

5. Joe should advise the Board that the underwriting administration services information currently in use is most commonly known as a?

A) Accounting Information System
B) Codified Management System
C) Management Information System
D) Transaction Processing System

Solutions: