Free CII LM1 Exam Prep

Learning Outcome 1 (6 of 50 official questions). Good faith and fair presentation, proximate cause, indemnity and modifications, contribution and subrogation.

Learning Outcome 2 (10 of 50). Risk concepts and categories, pooling, peril vs hazard, moral/physical hazard, insurable risks, purpose and functions of insurance, claims handling importance.

Learning Outcome 3 (4 of 50). Marine, non-marine specialty and aviation classes and their main features.

Learning Outcome 4 (1 of 50). Supply, demand and external factors that harden or soften the market.

Learning Outcome 5 (3 of 50). Purpose of reinsurance and core terminology (facultative/treaty, proportional/non-proportional).

Learning Outcome 6 (5 of 50). Lloyd's and company market participants, why clients use London, market associations and how business is transacted.

Learning Outcome 7 (10 of 50). FCA/PRA, Consumer Duty, SM&CR, overseas licensing, Lloyd's governance, FOS/FSCS, insurer and intermediary regulation, contract essentials.

Learning Outcome 8 (2 of 50). Sanctions purpose and systems to comply with UK, US and EU legislation including bribery and solvency frameworks.

Learning Outcome 9 (2 of 50). Data protection principles affecting transactions and AML due diligence when dealing with clients.

Learning Outcome 10 (4 of 50). Agency duties, broking process, premium handling, claims support, schemes and contract certainty.

Learning Outcome 11 (3 of 50). Underwriting functions, lead and following underwriters, risk changes and the General Underwriters' Agreement.