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CII Insurance Business and Finance (IBF) Sample Questions:

1. What is the minimum period of notice which must be given by a company to its shareholders of the annual general meeting?

A) 60 days.
B) 21 days.
C) 14 days.
D) 30 days.

2. Which organisation's goal is to improve the long term profitability of all capital providers and monitor and guide managing agents?

A) The Franchise Board.
B) The Prudential Regulation Authority.
C) Lloyd's Market Association.
D) The Financial Conduct Authority.

3. Which distribution channel for insurance most commonly offers white-labelled products?

A) Retailers
B) Merchant Wholesalers
C) Investors
D) Consumers

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

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

5. Which document sets out a company's name and registered office?

A) The Chairman's Statement.
B) The Articles of Association.
C) The registration document / Certificate of Incorporation.
D) The Memorandum of Association.

Solutions: