Insurance, legal and regulatory if1 provides you with knowledge and understanding of the basic principles of insurance, including the main legal principles related to insurance contracts and insurance business and the key elements to protect consumers. Understand the key aspects of the regulatory and legal environment within which insurance brokers operate 17 2. Cii if1 insurance legal and regulatory brand financial training. It is a 2hour multiple choice question paper consisting of 100 questions, with a nominal pass mark of 70%. The fsa was originally established on july 1, 2000 as an agency of the financial reconstruction commission frc. Cii if1 exam, focussing on insurance, legal and regulatory, is part of the certificate in insurance get your study material here. Insurance business and regulatory law industries polsinelli. Based on the 2019 syllabus examined from 1 january 2019 until 31 december 2019. Read the key information overlay to the right of this page for details. This course is for you if you work in insurance or aspire for a rewarding career in insurance. It is a 2hour multiple choice question paper consisting of 100. To pass the cii certificate in insurance you must achieve 40 credits including one compulsory unit.
If2 general insurance business 15 credits if3 insurance underwriting process 15 credits if4 insurance claims handling process 15 credits accredited cii training provider bpp are accredited by the. Insurance legal and regulatory chartered insurance institute view test prep ciiif1exampapers from if 1 at university of central punjab, lahore. During the course, youll gain a grounding in a range of topics, from underwriting claims to motor insurance products, depending on which units you choose. The focus of this work was not just an appraisal of the clearly established regulatory framework as may be found in the insurance statutes and regulations but it also highlighted areas of. If1 insurance,legal and regulatory revision help youtube. If1 insurance, legal and regulatory 15 credits elective. If1 insurance, legal and regulatory chp 8 studyblue. We do recommend that all diploma entrants also sit unit ifi insurance, legal and regulatory, as this covers the workings of the market, including the legal and regulatory framework and the essentials of insurance practice. Risk management in insurance purpose to enable managers to understand the management of risk within the context of an insurance organisation. Everyday low prices and free delivery on eligible orders. It focuses on areas of critical importance to the effective performance of all employees within the sector, including key ethical, regulatory, legal and insurance.
Dec 31, 2014 the certificate in insurance offers an essential grounding to those working in the insurance industry, and is open to all, regardless of prior learning experience or qualifications. Cii if1 insurance, legal and regulatory update this update is for candidates taking the examination between 1 may 2016 and 30 september 2016 and using the bpp learning media 2015 edition study text. Assumed knowledge it is assumed that the candidate already has knowledge of the fundamental principles of insurance as covered in if1 insurance, legal and regulatory or equivalent examinations. Summary of learning outcomes number of questions in the examination 1. Read cii certificate in insurance if1 insurance, legal and regulatory. This unit covers six essential topics, including the insurance market, legal. The term insurance or any term derived from the term insurance cannot be used by a legal entity or a contractor in the name of their company or their name andor in the name of a product or service, except in cases where such words are used according to the provisions of this law or a special law. Pure risks level of risk the accepting of an unknown future potential risk by an insurer for an agreed premium.
Also available as an ebook via ciipersonal finance society members only. It is assumed that the candidate already has knowledge of the fundamental principles of insurance as covered in if1 insurance, legal and regulatory or equivalent. If1 insurance legal and regulatory online flashcards. Legal and legislative landmarks in the statebased insurance regulatory system have included supreme court decisions in 1868 paul v. Understand the role of the insurance broker in meeting client needs 7 3.
A practitioners guide to the regulation of insurance. Brand financial training cii if1 insurance, legal and regulatory mock exam questions you are either satisfied or you get your money back. The insurer does this by promising to pay for loss, damage or liability as defined by the policy terms. After sitting the compulsory unit if1, you will choose two additional optional units that fit with your interests to complete the certificate in insurance. The syllabus will be based on english law and practice. Insurance legal and regulatory chartered insurance institute. Insurance law m05 counts towards a diploma in insurance. Learning outcome 1, learning outcome 2, learning outcome 3, and more.
The insurance supervisory authority is the financial services agency fsa, a superregulator which is responsible for supervising the entire financial services sector. The level 3 certificate in insurance is a core qualification for insurance staff working across all sectors of the profession. If1 insurance legal and regulatory flashcard maker. If1 insurance, legal and regulatory objective to provide knowledge and understanding of the basic principles of insurance, including the main legal principles related to insurance contracts, the main regulatory principles related to insurance business and the key elements to protect consumers. Cii study texts insurance legal and regulatory london cii.
In the aftermath of this disaster, nicholas barbon. Insurance, legal and regulatory brand financial training. The insurer does this by promising to pay for loss, damage or. Study 17 if1 insurance, legal and regulatory chp 9 flashcards from mark s. Insurance is divided into three categories 1 insurance against property and economic losses all first party examples. Cii certificate in insurance if1 insurance, legal and. It is assumed that the candidate already has knowledge of the fundamental principles of insurance as covered in if1 insurance, legal and regulatory or equivalent examinations. Additional reading books and ebooks insurance theory and practice. Risk management in insurance personal finance society. A short video that may assist in revising for the first if1 exam. Insurance companies, unlike banks and securities firms, have been chartered and regulated solely by the states for the past 150 years. Feb 12, 20 a short video that may assist in revising for the first if1 exam.
Apply the legal and regulatory principles for motor insurance to a given set of circumstances. Insurance as we know it today can be traced to the great fire of london, which in 1666 devoured,200 houses. We look at the concept of risk, the different types of risk and how insurance acts as a. Candidates sitting the examination on or after 1 october 2016 will need to purchase the 201617 edition.
The certificate develops core knowledge and confidence of the key disciplines needed before you focus your subsequent studies and specialise according to your ambitions and career requirements. The certificate in insurance offers an essential grounding to those working in the insurance industry, and is open to all, regardless of prior learning experience or qualifications. Award for the foundation insurance test 6 credits p92 insurance business and finance compulsory unit if1 insurance, legal and regulatory compulsory unit if3 insurance underwriting process if5 motor insurance products if8 packaged commercial insurances if6 household insurance products if2 general insurance business if4. Other available units you cannot sit both if1 and lm1 are.
Insurance, legal and regulatory the ciis if1 exam lays the foundations for the certificate in insurance. Insurance, legal and regulatory if1 provides you with knowledge and understanding. With the support of our am law 100 firm that is ranked among the top 30 law firms nationwide for client service excellence, attorneys in the insurance business and regulatory law group strive to serve as a valued resource in the insurance industry and as a partner to our clients. Understand the nature and main features of risk within the insurance environment. Insurance risk transfer mechanism skills solutions components. Insurance, legal and regulatory if1 if1 15 cii credits certificate level credits insurance, legal and regulatory if1 provides you with knowledge and understanding of the basic principles of insurance, including the main legal principles related to insurance contracts and insurance business and the key elements to protect consumers. Insurance activities article 2 insurance activities include insurance, coinsurance and reinsurance, as well as activities directly related to insurance. The certificate develops core knowledge and confidence of the key disciplines needed before you focus your subsequent studies and specialise according to your. Training course introduction to insurance w01 if1 duration 45. Insurance, legal and regulatory if1 society of claims. Understand the cii code of ethics and be able to apply the principles to non complex scenarios. If1 exam questions, 1 risk and insurance, 2 the insurance market. Cert cii fast track study programme gibraltar insurance institute.
Basic provisions subject of the law article 1 this law regulates insurance conditions and methods as well as supervision of insurance activities. Third party insurance insures against legal liability for damages to third parties, and first party insurance includes everything else. Insurance regulatory development authority act, 1999 245 unit 12. To provide knowledge and understanding of the basic principles of. Lm2 london market insurance principles and practice. Assumed knowledge it is assumed that the candidate already has the knowledge gained from a study of the relevant sections of if1 insurance, legal and regulatory or equivalent examinations. Cii certificate in insurance if1 insurance, legal and regulatory study text. The april session will test the legal position as of 31st august of the preceding year. Download 2020 syllabus pdf download 2020 exam guide pdf. Pakistan insurance institute chartered insurance institute. Buy cii certificate in insurance if1 insurance, legal and regulatory. Cii certificate in insurance if1 insurance, legal and regulatory. Insurance, legal and regulatory if1 counts towards achieving the certificate in insurance. General insurance business chartered insurance institute.
Buy cii certificate in insurance if1 insurance, legal and. It focuses on areas of critical importance to the effective performance of all employees within the sector, including key ethical, regulatory, legal and insurance products. Cii certificate in insurance cii if1 if2 if3 if4 if5 if6. Dec 31, 2014 buy cii certificate in insurance if1 insurance, legal and regulatory. View test prep ciiif1exampapers from if 1 at university of central punjab, lahore. If1 insurance, legal and regulatory chp 9 studyblue. Understand risk assessment, rating and underwriting for motor.