CII M92 : Insurance Business and Finance (IBF)

M92 real exams

Exam Code: M92

Exam Name: Insurance Business and Finance (IBF)

Updated: Oct 23, 2026

Q & A: 84 Questions and Answers

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CII M92 Exam Syllabus Topics:

SectionWeightObjectives
Understand insurance business management12%- Business objectives and strategy
- Underwriting and claims processes
- Operational activities and controls
Understand insurance company accounts and standards10%- Solvency and capital reporting
- Statutory and regulatory reporting
- Specific accounting rules for insurers
Understand roles and functions within insurance organisations8%- Professional roles and responsibilities
- Key departments and their interactions
Understand financial strength of insurance companies10%- Capital adequacy requirements
- Rating agencies and financial assessments
- Reserving and risk capital
Understand corporate governance principles12%- Compliance and ethical requirements
- Risk management frameworks
- Governance structures and responsibilities
Understand the structure of the insurance industry10%- Market distribution channels
- Main sectors and participants
- Regulatory framework and bodies
Understand accounting principles and application18%- Asset and liability recognition
- Basic accounting concepts and standards
- Income, expenditure and profit measurement
Analyse business performance using financial ratios10%- Solvency and liquidity measures
- Profitability and efficiency ratios
- Interpretation and limitations of ratios
Case studies integrating all learning outcomes10%

CII Insurance Business and Finance (IBF) Sample Questions:

Question #1

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

  • A. Management Information System
  • B. Transaction Processing System
  • C. Codified Management System
  • D. Accounting Information System
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Correct Answer: C  🗳️

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Question #2

What is the most likely explanation for the company's return on capital employed being lower than its competitors if they have a good combined ratio?

  • A. Higher solvency margin.
  • B. Poor investment returns.
  • C. Higher premium retention.
  • D. Lower expense ratio.
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Correct Answer: B  🗳️

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Question #3

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

  • A. The balance sheet.
  • B. A cash flow statement.
  • C. The directors' report.
  • D. The income statement.
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Correct Answer: B  🗳️

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Question #4

Under which Act would it be a civil offence if Mark were to sell his shares following information obtained in May?

  • A. The Bribery Act 2010
  • B. Companies Act 2006
  • C. Data Protection Act 2018
  • D. Financial Services and Markets Act 2000
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Correct Answer: D  🗳️

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Question #5

When an insurance company seeks to play a role in society via sponsorship and community projects, this is known as

  • A. codified management.
  • B. horizontal diversification.
  • C. a stakeholder perspective.
  • D. vertical integration.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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