100+ Free CIIG Advanced Diploma Practice Questions

Pass your CIIG Advanced Diploma in Insurance / Associateship exam on the first try — instant access, no signup required.

✓ No registration✓ No credit card✓ No hidden fees✓ Start practicing immediately

45-55% Pass Rate

100+ Questions

100% Free

Loading practice questions...

Same family resources

Explore More CIIG Ghana Insurance Exams

Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.

CIIG Diploma in Insurance

Practice Questions100 questions

2026 Statistics

Key Facts: CIIG Advanced Diploma Exam

100

Practice Questions

Full exam simulation

3 hrs

Time Limit

180 minutes total

55%

Passing Score

55 correct answers required

Act 1061

Regulatory Base

Ghana Insurance Act 2021

ACIIG

Professional Status

Leads to Associateship

Modules

Exam Structure

Modular exam seatings

The CIIG Advanced Diploma in Insurance is a senior-level credential for Ghanaian insurance professionals. It requires passing advanced modules covering underwriting, claims, reinsurance, and local laws. Completing the qualification leads to the Associateship (ACIIG) and Chartered Insurer status.

Sample CIIG Advanced Diploma Practice Questions

Try these sample questions to test your CIIG Advanced Diploma exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under the Ghana Insurance Act 2021 (Act 1061), what is the statutory Minimum Capital Requirement (MCR) for a locally incorporated direct life insurance company?

A.GHS 10 million

B.GHS 50 million

C.GHS 80 million

D.GHS 100 million

Explanation: Under the current regulatory directives issued by the National Insurance Commission (NIC) pursuant to the Insurance Act 2021, the Minimum Capital Requirement (MCR) for direct life insurance companies was raised to GHS 50 million. This capital increase was mandated to strengthen the financial capacity of insurers in the Ghanaian market. Failure to maintain this minimum capital can lead to the suspension or revocation of the insurer's license.

2What is the primary function of the Complaints Bureau established by the National Insurance Commission (NIC) of Ghana?

A.To prosecute insurance directors for financial fraud in state courts

B.To mediate and resolve disputes between policyholders and insurance companies regarding claims settlement

C.To issue new underwriting licenses to insurance brokers and agents

D.To audit the financial statements of reinsurance companies operating in the country

Explanation: The NIC Complaints Bureau serves as an administrative and alternative dispute resolution (ADR) body to handle complaints from the public regarding claims disputes and service issues with insurers. It offers policyholders a cost-effective and swift mechanism to seek redress before resorting to formal court litigation. The Bureau's decisions are binding on insurers under specific regulatory limits.

3Under the 'No Premium, No Cover' provision of the Insurance Act 2021 (Act 1061) in Ghana, what is the statutory status of an insurance policy if the premium has not been paid?

A.The policy remains valid, and the insurer must pay any claims and recover the premium later

B.The cover is legally active for a 30-day grace period from the inception date

C.The cover is not legally in force, and the insurer is not liable for any claim arising during the unpaid period

D.The policy is automatically transferred to the National Insurance Commission's guarantee fund

Explanation: The Insurance Act 2021 (retaining the core of the previous credit ban) mandates that the receipt of the full insurance premium is a condition precedent to the attachment of risk. If the premium is not paid in full to the insurer or the registered broker, the policy does not take effect and the insurer has no liability. This credit prohibition prevents accumulation of unpaid premium debts in the market.

4Which professional body in Ghana is responsible for registering student members, conducting examinations, and maintaining professional standards for individual insurers?

A.Ghana Insurance College (GIC)

B.Chartered Insurance Institute of Ghana (CIIG)

C.National Insurance Commission (NIC)

D.Ghana Insurance Association (GIA)

Explanation: The Chartered Insurance Institute of Ghana (CIIG) is the professional association that registers members, promotes professional ethics, and awards local designations (such as ACIIG). The Ghana Insurance College (GIC) acts as the educational and training institution that offers preparatory courses, whereas the NIC is the regulatory and supervisory authority.

5Under the Ghana Insurance Act 2021, which of the following properties is subject to compulsory insurance against fire and third-party liabilities?

A.All owner-occupied private residential bungalows

B.All commercial buildings and commercial buildings under construction

C.Only government-owned administrative structures

D.Agricultural crop fields and poultry farms

Explanation: Act 1061 mandates that all commercial buildings (occupied or under construction) must be insured against collapse, fire, flood, and third-party liabilities. This requirement protects the public, visitors, and workers from catastrophes. Failure to insure a commercial property can lead to severe fines or closure by the NIC.

6What is the primary compliance objective of the Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) guidelines issued by the NIC to Ghanaian insurers?

A.To ensure that insurers maximize their investment returns from overseas markets

B.To prevent the insurance sector from being used as a channel to conceal the origins of illicit funds

C.To eliminate competition among insurance brokers placing international risks

D.To regulate the tax liabilities of insurance agents operating in rural districts

Explanation: The NIC's AML/CFT guidelines require insurers and intermediaries to implement strict customer due diligence (CDD), monitor transactions, and report suspicious activities. This prevents criminals from laundering money through insurance products (like single-premium life policies or premium refunds). Compliance is audited regularly by the NIC and the Financial Intelligence Centre (FIC).

7Under the NIC Corporate Governance Directives, how often must the Risk Management Committee of a licensed insurer's Board meet?

A.At least once every calendar month

B.At least once every quarter (four times a year)

C.At least twice a year (semi-annually)

D.Only when a major catastrophe claim exceeds GHS 10 million

Explanation: The NIC Corporate Governance Directives specify that the Board Risk Management Committee must meet at least once every quarter. These meetings are essential to monitor solvency ratios, investment risks, underwriting exposures, and compliance dashboards. The minutes must be documented and made available to NIC inspectors during regulatory audits.

8What is the minimum Capital Adequacy Ratio (CAR) that a direct non-life insurer must maintain to be considered solvent under the NIC Risk-Based Capital framework?

A.100%

B.120%

C.150%

D.200%

Explanation: Under the Risk-Based Capital (RBC) framework introduced by the NIC, insurers are required to maintain a Capital Adequacy Ratio (CAR) of at least 150%. The CAR compares the insurer's qualifying capital against its risk-based capital requirements. Falling below 150% triggers regulatory interventions, ranging from corrective action plans to restrictions on new business.

9Under the Insurance Act 2021 (Act 1061), the NIC may suspend or revoke an insurer's license if its capital falls below what critical percentage of the Minimum Capital Requirement (MCR)?

A.90%

B.75%

C.50%

D.100%

Explanation: An insurer is required to maintain 100% of the Minimum Capital Requirement (MCR) at all times. If its capital drops below 100%, it is technically in breach of its licensing conditions. The NIC has the authority to suspend the license immediately or allow a short recovery period to restore capitalization.

10What is the primary regulatory directive of the NIC regarding the placement of local reinsurance risks in Ghana?

A.Insurers can place all reinsurance business abroad to get the cheapest rates

B.Insurers must first exhaust local reinsurance capacity (with locally licensed reinsurers) before seeking offshore capacity

C.All reinsurance must be placed exclusively with the West African Insurance Companies Association (WAICA) Re

D.Direct insurers are prohibited from buying reinsurance and must retain 100% of their risks

Explanation: To support the local industry and conserve foreign exchange, the NIC mandates that insurers exhaust all local reinsurance capacity first. Insurers must offer business to locally registered reinsurers (such as Ghana Re, Mainstream Re, WAICA Re) before placing any remaining portion offshore. Placing reinsurance offshore without local clearance requires written approval from the NIC.

About the CIIG Advanced Diploma Exam

The CIIG Advanced Diploma in Insurance is the premier professional qualification for insurance managers and specialists in Ghana. It covers advanced principles of underwriting management, strategic claims, reinsurance, insurance business operations, and the regulatory environment under the National Insurance Commission (NIC) and the Insurance Act 2021 (Act 1061).

Questions

100 scored questions

Time Limit

3 hours

Passing Score

55%

Exam Fee

GHS 1,200 (Chartered Insurance Institute of Ghana (CIIG) / Ghana Insurance College)

CIIG Advanced Diploma Exam Content Outline

20%

Business & Regulatory Environment

Economics, insurance business management, compliance with NIC guidelines and the Ghana Insurance Act 2021.

20%

Advanced Underwriting

Risk evaluation, policy wording construction, portfolio monitoring, and commercial underwriting strategies.

20%

Strategic Claims Management

Complex claims investigation, dispute resolution, litigation management, and catastrophe planning.

20%

Reinsurance & Risk Transfer

Designing reinsurance programs, treaty drafting, captives, and alternative risk transfer methods.

20%

Broking & Professional Ethics

Broking practices, client advisory services, market ethics, and professional standards in Ghana.

How to Pass the CIIG Advanced Diploma Exam

What You Need to Know

Passing score: 55%
Exam length: 100 questions
Time limit: 3 hours
Exam fee: GHS 1,200

Keys to Passing

Complete 500+ practice questions
Score 80%+ consistently before scheduling
Focus on highest-weighted sections
Use our AI tutor for tough concepts

CIIG Advanced Diploma Study Tips from Top Performers

1Deeply analyze the corporate governance directives and solvency requirements of the NIC under Act 1061.

2Understand reinsurance treaty structures (quota share, surplus, excess of loss) and practice calculating reinsurer vs. cedant shares.

3Study the legal doctrines of subrogation, proximate cause, and estoppel as they apply in Ghanaian courts.

4Learn how to assess complex commercial risks, including business interruption (BI) and loss of profits formulas.

5Practice outlining essay plans and summarizing case studies for GIC modules if sitting the written exams.

6Consistently practice multiple-choice questions on this platform to lock in core definitions and mechanical calculations.

Frequently Asked Questions

What is the CIIG Advanced Diploma in Insurance?

The CIIG Advanced Diploma in Insurance is a senior-level professional qualification administered by the Chartered Insurance Institute of Ghana (CIIG) and the Ghana Insurance College (GIC). It builds upon the Diploma in Insurance to provide deep expertise in management, strategic underwriting, claims, and reinsurance, leading directly to the Associateship (ACIIG) and Chartered Insurer status.

What are the entry prerequisites for the CIIG Advanced Diploma?

Candidates must have completed the CIIG Diploma in Insurance, or possess a recognized university degree in Insurance or Actuarial Science. In some cases, candidates with equivalent foreign professional insurance qualifications (such as CII UK Diploma) may apply for exemptions or direct entry.

What is the passing score and format of the exam?

The passing score for the Advanced Diploma exams is generally 55%. While the official examinations are structured module-by-module (often including written essays, case studies, or mixed format papers), this practice platform simulates a comprehensive 100-question multiple-choice exam spanning all core subject areas to test your overall knowledge.

How does the Insurance Act 2021 (Act 1061) affect the Advanced Diploma syllabus?

The Insurance Act 2021 has modernized regulatory requirements in Ghana. Candidates are expected to understand advanced compliance, such as microinsurance regulations, solvency capital requirements, corporate governance guidelines issued by the National Insurance Commission (NIC), and compulsory liability insurances for commercial and public buildings.

What career roles benefit from holding the CIIG Advanced Diploma?

Under National Insurance Commission (NIC) guidelines, senior positions such as Principal Officers, Chief Executive Officers, Underwriting Managers, and Claims Directors are required or highly expected to hold the Associateship status (ACII or ACIIG), which is achieved by completing the Advanced Diploma.

How should I study for the CIIG Advanced Diploma examinations?

Preparation requires studying GIC official textbooks, reading current NIC circulars, and reviewing legal cases involving Ghanaian insurance disputes. Practicing high-level scenario-based questions that test application of underwriting principles and reinsurance calculations is highly recommended.