Free Practice Questions for Romania ISF Insurance Intermediary Initial Certification

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Sample Romania ISF Insurance Intermediary Initial Certification Practice Questions

Try these sample questions to review concepts for the Romania ISF Insurance Intermediary Initial Certification exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 60+ question experience with AI tutoring.

1Which EU directive is transposed by Romania's Law no. 236/2018 privind distribuția de asigurări?

A.Solvency II

B.Insurance Distribution Directive (IDD)

C.Markets in Financial Instruments Directive II (MiFID II)

D.Payment Services Directive II (PSD2)

Explanation: Law no. 236/2018 transposes Directive (EU) 2016/97, the IDD. It governs insurance distribution, including information and conduct duties toward customers.

2Which group includes all three categories in the legal definition of an insurance distributor?

A.Insurance undertakings, insurance intermediaries, and ancillary insurance intermediaries

B.Agents, brokers, and external financial auditors

C.Insurers, reinsurers, and independent claims adjusters

D.Insurance intermediaries, pension administrators, and loss assessors

Explanation: The definition includes insurers that distribute directly as well as insurance intermediaries and ancillary insurance intermediaries. Distribution is therefore broader than brokerage alone.

3Which Romanian authority supervises insurance distribution and private pension markets?

A.Banca Națională a României (BNR)

B.Autoritatea Națională pentru Protecția Consumatorilor (ANPC)

C.Ministerul Finanțelor

D.Autoritatea de Supraveghere Financiară (ASF)

Explanation: ASF is the sector supervisor for insurance, capital markets, and private pensions. A distributor must distinguish sector supervision from banking supervision and general consumer protection.

4Which distinction between an agent and a brokerage company best describes their distribution roles in Romania?

A.Both act as branches of ASF

B.An agent acts for clients; a brokerage company acts only for an insurer

C.An agent acts for an insurer; a brokerage company intermediates for clients

D.Both must underwrite the insurance risks they distribute

Explanation: An agent distributes for and in the name of the insurer or insurers represented. A brokerage company intermediates for its clients; neither role makes the intermediary the insurer underwriting the risk.

5Which minimum training structure does ASF Norm no. 23/2021 prescribe for the standard initial professional training program?

A.30 hours of theory and 15 hours of practical training

B.15 hours of theory and no practical training

C.15 hours of theory and 30 hours of practical training

D.45 hours of theory with practical training optional

Explanation: The program requires at least 45 hours: 30 theoretical and 15 practical. The practical part includes case studies and other training methods for applying distribution knowledge.

6What is the standard annual minimum for continuing professional training under ASF Norm no. 23/2021?

A.15 credits in total over each three-year cycle

B.30 credits every second year

C.15 credits, equivalent to 15 hours, in each calendar year

D.45 credits in the year the initial exam is passed, with no further requirement

Explanation: Continuing professional training requires at least 15 credits per calendar year, each equivalent to an hour. The three-year certification cycle does not convert this into a single 15-hour requirement for the whole cycle.

7Under the IDD amounts applicable since 9 October 2024, what minimum professional indemnity cover applies where an intermediary must provide its own insurance or comparable guarantee?

A.EUR 1,250,000 per claim and EUR 1,850,000 per year

B.EUR 1,300,380 per claim and EUR 1,924,560 per year

C.EUR 2,315,610 per claim and EUR 1,564,610 per year

D.EUR 1,564,610 per claim and EUR 2,315,610 per year

Explanation: Delegated Regulation (EU) 2024/896 sets these minimums for cover across the Union. The IDD also permits specified alternatives, including an undertaking providing the guarantee or assuming full responsibility for the intermediary's actions.

8Which activity most clearly illustrates ancillary insurance distribution, assuming the other statutory conditions are met?

A.An insurer sells its own motor policies directly

B.An electronics retailer offers cover complementary to the devices it sells

C.A brokerage company makes insurance distribution its principal business

D.A reinsurer accepts risks ceded by insurance undertakings

Explanation: Ancillary distribution complements the supplier's principal goods or services. It is a distinct category with additional statutory conditions, rather than an automatic exemption from distribution duties.

9An asistent works through a Romanian brokerage company. Which description of that relationship is correct?

A.The assistant becomes the insurer for every policy sold

B.The assistant distributes for and in the name of the intermediary principal, under its responsibility

C.The assistant's course certificate independently authorizes a brokerage company

D.The assistant replaces the brokerage company's obligation to supervise its distribution channel

Explanation: ASF Norm no. 22/2021 defines an asistent as a secondary intermediary acting for and in the name of an intermediary principal. The principal remains responsible for its distribution channel; completing training does not itself authorize a brokerage company.

10A registered Romanian intermediary plans to serve clients in another EU Member State. What should it address before relying on its home registration abroad?

A.The applicable notification procedure through ASF for services or establishment

B.Only obtaining the client's consent to Romanian supervision

C.Only translating its marketing website

D.Replacing registration with a private agreement with a foreign broker

Explanation: The IDD provides notification procedures for cross-border services and establishment. A Romanian registration is the starting point, but the intermediary must follow the relevant procedure and applicable host-state rules.

About the Romania ISF Insurance Intermediary Initial Certification Exam

Independent practice by OpenExamPrep for Romania's ISF Examen Pregătire profesională inițială_Intermediar în asigurări. These 60 questions review distribution law, customer needs, contracts, products, and calculations. This is an English-language MCQ study adaptation, not an official translation or a simulation of the Romanian examination. It does not replace mandatory training, practical case studies, or preparation with Romanian terminology and official materials.

Exam sponsor: Institutul de Studii Financiare (ISF), using the ASF-approved certification methodology. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

The ISF initial-certification test is offered online or at scheduled examination venues: 40 Romanian-language MCQs in 40 minutes, with one correct answer among three options. The current ISF-linked methodology and syllabus require 28/40 points. Standard prerequisite training includes 30 theoretical and 15 practical hours with case studies. The cited methodology specifies no additional oral, essay, portfolio, or separately scored practical certification examination for this intermediary category.

Time Limit

40 minutes

Passing Score

28/40 points (70%) under the current ISF-linked methodology and syllabus

Exam / Certification Fees

RON 325 examination fee, verified on a September 2026 ISF sitting; training fees separate

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

ISF certification methodology and annexes · Source checked 2026-10-10Official certification identity and links to the governing methodology, syllabus, and occupational profile.
ISF certification methodology, July 2022 amendments · Source checked 2026-10-10Current certification page links this methodology: 40-minute test, 40 questions, and 28-point pass mark; training and dossier requirements.
ISF initial-training syllabus, individual distributors · Source checked 2026-10-10Nine competency areas; Romanian assessment with three options per item; practical case-study training; 28/40 pass mark. No exam percentage weights are specified.
ISF September 2026 initial-training examination · Source checked 2026-10-10Confirms an active 2026 sitting, RON 325 fee, and 40-minute duration. The website's English navigation does not establish an English assessment option.
ISF current FAQ · Source checked 2026-10-10Confirms Romanian examination and high-school completion without BAC. Its exam process section also states 28 points; another isfin.ro FAQ gives the conflicting 32-point figure.
Legea nr. 236/2018 privind distribuția de asigurări · Source checked 2026-10-10Distribution identity, information duties, customer needs, remuneration, and IBIP conduct; consolidated text includes January 2026 changes.
Norma ASF nr. 22/2021 privind distribuția de asigurări · Source checked 2026-10-10Agent and assistant roles and registration rules; consolidated through January 2026.
Norma ASF nr. 23/2021 privind pregătirea profesională · Source checked 2026-10-10Initial training, annual continuing credits, and certification validity.
Romanian Civil Code, insurance chapter · Source checked 2026-10-10Insurance contract principles, indemnity, proportional underinsurance, subrogation, co-insurance, and reinsurance.
Delegated Regulation (EU) 2024/896 · Source checked 2026-10-10Updated IDD professional indemnity amounts applicable since October 2024.
Legea nr. 132/2017, consolidated RCA rules · Source checked 2026-10-10RCA limits amended in November 2025, direct settlement, and BAAR functions.
BAAR high-risk insured procedure · Source checked 2026-10-10Current August 2026 procedure and threshold formula including the bonus-malus coefficient.
Legea nr. 260/2008, consolidated PAD rules · Source checked 2026-10-10Dwelling categories, insured perils, RON sums insured, and annual premiums.
Insurance Distribution Directive, consolidated · Source checked 2026-10-10Cross-border notification, conflicts, suitability, and appropriateness.
PRIIPs Regulation (EU) No 1286/2014 · Source checked 2026-10-10Key Information Document purpose and length.
Norma ASF nr. 18/2017, petitions · Source checked 2026-10-10Petition registration, investigation, and response duties.
Law no. 129/2019, AML framework · Source checked 2026-10-10Customer due diligence and restrictions on tipping off; current search-indexed consolidated text checked alongside the readable statutory text.
ASF voluntary pension participant guide · Source checked 2026-10-10Basic distinctions between public, mandatory private, and voluntary private pensions; no current tax allowance is asserted here.
European Commission data protection legal grounds · Source checked 2026-10-10General lawful bases and additional conditions for sensitive data such as health information.
CJEU judgment C-667/21 · Source checked 2026-10-10Explains that health-data processing needs both an Article 6 lawful basis and the applicable Article 9 condition.
FGA legal framework · Source checked 2026-10-10Current guarantee framework, including Law no. 213/2015 as effective in 2026.
SAL-FIN annual report · Source checked 2026-10-10Confirms the entity's dispute-resolution role and procedures for proposing or imposing solutions.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

11 practice questions

Distribution law and professional requirements

IDD, distributor roles, training rules, current indemnity requirements, and cross-border activity. Counts are editorial practice allocations, not official exam percentages.

12 practice questions

Conduct, consumer protection, and post-sale duties

Needs analysis, customer disclosures, GDPR, AML, conflicts, petitions, and SAL-FIN.

12 practice questions

Contracts and insurance fundamentals

Contract parties, indemnity, underinsurance, franchises, subrogation, co-insurance, and reinsurance.

14 practice questions

Non-life and health products

RCA, CASCO, PAD, BAAR, FGA, health waiting periods, and business interruption.

10 practice questions

Life, investment, accident, and pension concepts

Term life, endowment, surrender, paid-up cover, unit-linked risk, KID, investor assessments, accident benefits, and pension pillars.

1 practice question

Client communication

Explain coverage gaps and check understanding. Client-needs scenarios also appear throughout the other practice sections.

Preparing for the Romania ISF Insurance Intermediary Initial Certification Exam

What You Need to Know

Passing score: 28/40 points (70%) under the current ISF-linked methodology and syllabus
Assessment: The ISF initial-certification test is offered online or at scheduled examination venues: 40 Romanian-language MCQs in 40 minutes, with one correct answer among three options. The current ISF-linked methodology and syllabus require 28/40 points. Standard prerequisite training includes 30 theoretical and 15 practical hours with case studies. The cited methodology specifies no additional oral, essay, portfolio, or separately scored practical certification examination for this intermediary category.
Time limit: 40 minutes
Exam / certification fees: RON 325 examination fee, verified on a September 2026 ISF sitting; training fees separate Official sources

Using Our Practice Resources

Work through all 60 available questions
Review every answer and explanation
Track weak areas and revisit them
Use our AI tutor for tough concepts

Romania ISF Insurance Intermediary Initial Certification: Suggested Study Strategy

1Use the ISF syllabus and Romanian terminology to review all nine competency areas, including communication, ethics, post-sale support, and products not sampled in this focused bank.

2Distinguish the insurer, agent, intermediary principal, and assistant, and explain to clients whose interests and mandate each role represents.

3Read the contract's valuation, underinsurance, franchise threshold, and calculation order before calculating any claim; the examples supply their own contractual assumptions.

4Practice explaining protection needs, exclusions, costs, and investment risks in plain language and checking the client's understanding.

5Check current Romanian statutes for RCA and PAD amounts and BAAR procedures; do not treat old euro amounts or example premiums as current universal rules.

6Complete the required practical training and rehearse case studies with official Romanian materials; MCQs alone cannot demonstrate client-service performance.

Frequently Asked Questions

Which examination does this bank cover?

Independent study for ISF's Examen Pregătire profesională inițială_Intermediar în asigurări, in the professional category Intermediar în asigurări și/sau reasigurări. This is initial certification, rather than the continuing-training or definitivat examination.

What are the format, pass mark, and fee?

The official test has 40 Romanian-language MCQs with three options each, lasts 40 minutes, and requires 28/40 points under the current ISF-linked methodology and syllabus. A September 2026 sitting lists an examination fee of RON 325. Another ISF FAQ gives 32 points; use the linked governing methodology and check your sitting instructions.

Is this an official translation or a format simulation?

No. This is independent English-language MCQ study adaptation with four answer options. The official examination is in Romanian and has three options. Prepare with Romanian official materials as well as the required theoretical and practical training.

Is the baccalaureate required for this intermediary exam?

ISF's current FAQ specifies high-school completion without requiring BAC. The intermediary exam dossier includes identification, the relevant educational evidence, and the initial-training record or recognized equivalent. Do not confuse this with the higher-education requirements for executive categories or separate registration requirements for practicing.

Are there practical or oral components?

The standard training route includes at least 15 practical hours using case studies and other practical instruction, alongside 30 theoretical hours. The certification assessment described for this category is the MCQ test; no additional oral or separately scored practical certification examination is specified in the cited methodology.

How long is the initial certificate valid?

It is valid for three years from passing, subject to annual continuing-training requirements of at least 15 credits. Further examination requirements depend on the applicable continuing-training cycle and definitivat provisions.

Do the practice sections reproduce official topic percentages?

No. The official syllabus identifies nine competency areas without fixed exam percentage weights. The six practice sections are editorial groupings; this focused bank is not a complete replacement for the syllabus or practical training.