CII Insurance Business and Finance (E92) — Information & Free Practice

About CII Insurance Business and Finance (E92)

CII Insurance Business and Finance (E92) · GB

Key exam facts

Provider

The Chartered Insurance Institute (CII) owns and assesses E92, the examination element of M92. PSI supplies the examination platform.

Format

Four-option, single-answer MCQs: 25 standalone questions and five case studies with five MCQs each. Available at an exam centre or online with remote invigilation; M92 coursework is a separate component excluded here.

Exam questions

Total questions: 50.

Time limit

90 minutes of examination time; separate from preparation, tutorial and check-in.

Passing score

Standard examination pass mark: 65%. CII moderates marks to maintain the pass standard; this is distinct from M92's 60% coursework pass mark.

Exam fee

GBP £518 for CII members or £644 for non-members for the displayed M92 enrolment package, including study text, coursework and the first exam entry (18-month exam voucher). This is a bundled enrolment price, not a standalone E92 fee; additional attempts are not included. Printed material incurs postage and packaging.

Topics covered

• Understand the structure of the insurance industry. (20%)

  • Explain the different types of insurance structures.
  • Describe the global perspective of the insurance market.
  • Explain the different distribution channels for insurance business.
  • Describe the different types of stakeholder and their interests.
  • Explain business and insurance ethics.
  • Discuss the reasons for company growth, including mergers and acquisitions.
  • Discuss outsourcing to external service providers.
  • Discuss change in the UK and global insurance industry.

• Understand the management of insurance businesses. (12%)

  • Describe the role and responsibilities of the board of directors and other senior executives.
  • Describe the key roles and responsibilities of managers, supervisors and non-managerial staff.
  • Explain the importance of business planning, performance monitoring, budgetary planning and control and decision making.
  • Understand the use of management information and management reporting.

• Understand the main aspects of corporate governance. (12%)

  • Describe the corporate governance framework and the incorporation of businesses.
  • Describe the statutory reporting requirements.
  • Describe how risk can be managed within the corporate governance framework.
  • Explain the importance of the management and protection of data, including accurate record keeping and reporting.

• Understand the role of the various functions within insurance organisations (4%)

  • Explain the role and significance of the main functions within insurance organisations.

• Understand accounting principles and practices and their application (24%)

  • Explain the purpose and function of financial accounting.
  • Distinguish between financial and management accounting.
  • Describe the users of financial information and their information requirements.
  • Describe and apply the basic financial concepts and the accounting equation.
  • Describe accounting for receipts and payments.
  • Interpret companies' financial documents.
  • Explain and interpret the principles of management accounting.

• Understand accounting standards and insurance company accounts. (8%)

  • Outline the main accounting standards that affect insurance company accounts.
  • Explain insurance company reserving methods, Incurred But Not Reported (IBNR) and the importance of accurate claims reserving.

• Analyse businesses using financial ratios. (8%)

  • Interpret general accounts through the use of financial ratios.
  • Interpret insurance company accounts through the use of financial ratios.

• Understand the financial strength of insurance companies. (12%)

  • Explain the role of rating agencies and the rating process.
  • Explain the regulatory solvency requirements and how the financial strength of insurers is analysed and the associated impact on them.

How to prepare

Work through the topics, read the explanation after each answer, and revisit the areas where you miss questions. Use the official outline and reference materials below to guide your study.

These independent practice questions are not actual exam items and do not guarantee a passing result.

Frequently asked questions

Official sources and references

• CII M92 examination syllabus

  p. 1

• CII M92 examination syllabus

  p. 1, Summary of learning outcomes and both footnotes

• CII M92 supporting indicative content

  p. 1, heading

• CII M92 examination syllabus

  p. 1, Important notes, examination period

• CII E92 examination guide

  p. 5, Examination Information

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