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100+ Free RFP Module 2 Practice Questions

Pass your MFPC RFP Module 2 - Risk Management and Insurance Planning (Malaysia) exam on the first try — instant access, no signup required.

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Key Facts: RFP Module 2 Exam

75 Q

Exam Questions

MFPC

2.5 Hrs

Time Limit

MFPC

50%

Passing Score

MFPC

RM 200

Exam Fee

MFPC

RFP Module 2 is a 75-question, 2.5-hour exam by MFPC with a 50% passing threshold.

Sample RFP Module 2 Practice Questions

Try these sample questions to test your RFP Module 2 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which of the following best defines pure risk?
A.A risk that offers only the possibility of loss or no loss.
B.A risk that involves the possibility of a gain.
C.A risk that cannot be insured.
D.A risk caused by changes in the economy.
Explanation: Pure risk is a situation in which there are only the possibilities of loss or no loss.
2What is the primary purpose of risk management?
A.To completely eliminate all risks.
B.To maximize potential profits.
C.To minimize the adverse effects of risks at a minimum cost.
D.To transfer all risks to an insurance company.
Explanation: The goal of risk management is to minimize the adverse effects of risks at minimum cost.
3Which of the following is an example of risk retention?
A.Purchasing a comprehensive health insurance policy.
B.Choosing a high deductible on an auto insurance policy.
C.Installing a sprinkler system to reduce fire damage.
D.Avoiding flying to eliminate the risk of a plane crash.
Explanation: Choosing a high deductible means the individual retains the risk of paying that deductible amount.
4What does a hazard refer to in insurance?
A.The cause of a loss.
B.A condition that increases the frequency or severity of a loss.
C.The exact amount of financial loss incurred.
D.A risk that cannot be insured.
Explanation: A hazard is a condition that increases the chance of loss or its severity (e.g., icy roads).
5Which of the following is considered a moral hazard?
A.Leaving keys in an unlocked car.
B.Falsely claiming a higher value for stolen goods to get a larger payout.
C.Poor wiring in an old building.
D.Slippery floors in a supermarket.
Explanation: Moral hazard involves dishonesty or character defects that increase the frequency or severity of a loss.
6Which step comes first in the risk management process?
A.Evaluate potential losses.
B.Select the appropriate risk management technique.
C.Identify potential risks and loss exposures.
D.Implement and monitor the risk management program.
Explanation: Identifying potential risks and exposures is always the first step in risk management.
7What is the law of large numbers?
A.The larger the number of exposures, the closer actual losses will match expected losses.
B.Insurance companies must insure a large number of people to make a profit.
C.Risks with a large potential loss cannot be insured.
D.Only large corporations can self-insure effectively.
Explanation: The law of large numbers states that as the number of exposure units increases, the more closely actual losses will approach expected losses.
8Which type of risk involves changes in interest rates or inflation?
A.Fundamental risk.
B.Particular risk.
C.Financial risk.
D.Non-financial risk.
Explanation: Fundamental risks affect large groups or the entire economy, such as inflation or war.
9Risk avoidance is best used for which type of loss exposures?
A.High frequency, high severity.
B.Low frequency, high severity.
C.High frequency, low severity.
D.Low frequency, low severity.
Explanation: Risks that happen frequently and cause severe damage are best avoided entirely.
10What is risk transfer?
A.Eliminating the risk completely.
B.Paying for small losses out of pocket.
C.Shifting the financial burden of a loss to another party.
D.Reducing the probability of a loss occurring.
Explanation: Risk transfer moves the financial consequences to a third party, typically via an insurance contract.

About the RFP Module 2 Exam

Registered Financial Planner Module 2 covering risks, life, health, general insurance policies, legal principles, SOCSO, and consumer protection in Malaysia.

Assessment

75 questions spanning risk management, life, health, general insurance, and legal principles.

Time Limit

2.5 hours

Passing Score

50%

Exam Fee

RM 200 (Malaysian Financial Planning Council (MFPC))

RFP Module 2 Exam Content Outline

10%

understanding-risk-and-risk-management-concepts

Understanding risk, classification of risks, and the risk management process.

15%

legal-principles-and-insurance-legislation-in-malaysia

Legal principles of insurance, Financial Services Act 2013, and Islamic Financial Services Act 2013.

25%

life-insurance-policies-and-needs-analysis

Types of life insurance, riders, and human life value / needs analysis calculations.

20%

health-insurance-policies-and-annuities

Medical and health insurance, critical illness, personal accident, and annuities.

15%

general-insurance-products

Motor insurance, fire insurance, and liability insurance in Malaysia.

15%

consumer-protection-socso-and-code-of-practice

SOCSO benefits, PIDM, Ombudsman for Financial Services, and ethical code of practice.

How to Pass the RFP Module 2 Exam

What You Need to Know

  • Passing score: 50%
  • Assessment: 75 questions spanning risk management, life, health, general insurance, and legal principles.
  • Time limit: 2.5 hours
  • Exam fee: RM 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

RFP Module 2 Study Tips from Top Performers

1Master the legal principles of insurance, including insurable interest and utmost good faith.
2Practice needs analysis calculations for life insurance.
3Understand the coverage and exclusions of standard motor and fire policies in Malaysia.
4Learn the key benefits and schemes provided by SOCSO.

Frequently Asked Questions

What is the passing score for RFP Module 2?

The passing mark is 50%.

How long is the RFP Module 2 exam?

Candidates are given 2.5 hours to complete 75 questions.

What topics are covered in the RFP Module 2 exam?

It covers risk management concepts, legal principles, life/health/general insurance, needs analysis, SOCSO, and consumer protection.