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CII IF1 real answers - Insurance Legal and Regulatory (IF1) Exam

IF1
  • Exam Code: IF1
  • Exam Name: Insurance Legal and Regulatory (IF1) Exam
  • Updated: May 30, 2026
  • Q & A: 100 Questions and Answers
  • PDF Version

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  • PDF Price: $59.98
  • CII IF1 Value Pack

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  • PDF Version + PC Test Engine + Online Test Engine (free)
  • Value Pack Total: $79.98

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CII Insurance Legal and Regulatory (IF1) Sample Questions:

1. Harry owns a sports car valued at £1.000 and agrees to sell it to Ben for £500. Ben discusses this with his solicitor who states the contract is

A) enforceable as consideration does not need to be adequate.
B) unenforceable unless Harry signs a disclaimer acknowledging the consideration as acceptable.
C) enforceable but only if Harry does not refute the contract within six months of the contract date.
D) unenforceable as the consideration is inadequate.


2. From April 2019. a small company with nine employees is in dispute with its insurer and wishes to refer the matter to the Financial Ombudsman Service (FOS). The FOS is only permitted lo deal with the dispute if the insured's turnover does NOT exceed

A) £3,500,000
B) £1,000,000
C) £6,500,000
D) £6,000,000


3. In order for a contract to be legally enforceable, what further action is required after offer and acceptance?

A) Delivery of goods or services concerned.
B) Provision of written terms and conditions.
C) Witnessing by a third party.
D) Exchange of consideration between the two parties.


4. Joel buys a house in a flood plain, but it has NOT flooded for 10 years. In purchasing insurance, Joel is managing what element of risk?

A) Statutory requirements.
B) Frequency.
C) Certainty.
D) Uncertainty.


5. Under the Consumer Rights Act 2015. a clause in a household insurance policy may be considered unfair if it

A) imposes unreasonable obligations on the insurer in terms of costs or expenses that must be paid in addition to the amount of any loss.
B) allows any party other than the insured to enforce the insurer's obligations under the policy.
C) discriminates against one of the persons insured on the grounds of nationality, gender or sexual orientation only.
D) causes a significant imbalance in the parties' rights and obligations arising under the contract, to the disadvantage of the insured.


Solutions:

Question # 1
Answer: A
Question # 2
Answer: B
Question # 3
Answer: D
Question # 4
Answer: D
Question # 5
Answer: D

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