CII Introduction to Risk Management (I11) — Information & Free Practice

About CII Introduction to Risk Management (I11)

CII Introduction to Risk Management (I11) · GB

Key exam facts

Provider

The Chartered Insurance Institute (CII) owns and assesses I11; its Qualifications and Assessment Department publishes the examination guide.

Format

75 single-response multiple-choice questions with four options (A–D), delivered at online exam centres or by remote invigilation; availability is subject to booking capacity.

Exam questions

Total questions: 75.

Time limit

2 hours of examination answering time; this is not an enrolment, tutorial or check-in duration.

Passing score

Standard pass mark: 70%. CII adjusts MCQ marks where necessary for the demand of the exam version and reports adjusted marks relative to the standard; 70% is not an unconditional raw-score threshold.

Exam fee

UK/GBP online Enrolment only price checked 30 October 2026: £274.00 for members; £359.00 for non-members. This is an enrolment bundle including study material and assessment entry (exam voucher valid 18 months), not a separately verified exam-only or resit fee. Digital study access lasts 12 months. Printed material incurs postage and packaging at checkout.

Topics covered

• Understand the concept of risk (28%)

  • Describe risk and its main components.
  • Describe the role of risk in society.
  • Describe risk perception.
  • Describe the effects of risk upon organisations.
  • Describe the main types of risk.
  • Describe the main categories of risk faced by an organisation.
  • Describe the main risks specific to insurance companies.
  • What is meant by the term 'risk'.
  • The differences between risk and uncertainty.
  • The differences between peril and hazard, including physical and moral hazard.
  • What is meant by the term 'risk management'.
  • The main steps in the risk management process.
  • Risk at the individual and corporate level.
  • Catastrophic risks; their frequency and severity, origin and impact.
  • The role of government, including the use of legislation.
  • Society's attitude to risks, including risk aversion and compensation culture.
  • Changing nature of risk in modern society, including the emergence of new risks and their causes
  • The effect of risk on an individual's decision-making.
  • The main behaviours and biases.
  • External factors that can affect risk perception, including political, corporate and group.
  • The effect of risk on an organisation's decision-making.
  • Risk appetite and risk tolerance, including the differences between them and their respective applications.
  • Corporate culture, including the effects of weak and strong culture.
  • Pure.
  • Particular.
  • Speculative.
  • Fundamental.
  • Strategic.
  • Business/market.
  • Reputational.
  • Financial, including liquidity.
  • Credit, including default.
  • Legal, including regulatory and compliance.
  • Operational.
  • Other main categories.
  • Underwriting.
  • Pricing, including forecasting and objective/subjective risks.
  • Accumulation.
  • Reserving.
  • Emerging risks.

• Understand how risk can be identified and analysed (16%)

  • Describe risk information.
  • Describe the main techniques of risk identification.
  • Describe the main methods of collecting risk information.
  • Describe the main factors in risk analysis.
  • Risk information, its purpose and why it is needed.
  • The importance of trusted and relevant information.
  • The main techniques.
  • Internal and external sources of information.
  • Breaking down risk complexity.
  • Risk classification.
  • The purpose of risk registers.
  • Frequency.
  • Severity, including methods of quantifying severity.
  • Inherent and residual risk.
  • Methods of presentation.

• Understand how risk can be evaluated (13.33%)

  • Describe how risk can be evaluated.
  • Describe the main evaluation factors.
  • Describe the use of risk registers.
  • The evaluation process.
  • Risk appetite and risk tolerance.
  • Financial, legal and moral issues.
  • Content and use of risk registers.
  • Incorporation of risk decisions.
  • Risk owners.
  • Reasons for regular reviews.

• Understand how risk can be treated (21.33%)

  • Describe the main ways in which risk can be treated.
  • Describe the main types of risk control.
  • Describe how and why risk may be spread.
  • Describe the use of insurance in risk transfer.
  • Describe the other main types of risk transfer mechanism.
  • Describe how and why risk may be retained.
  • Elimination.
  • Control.
  • Transfer.
  • Retention.
  • Factors in deciding to use risk controls.
  • Directive.
  • Preventive.
  • Corrective.
  • Detective.
  • Use of multiple controls.
  • Monitoring and review of risk controls.
  • Diversification, main benefits and drawbacks.
  • Hedging through derivatives.
  • Benefits and drawbacks of using insurance, including mandatory insurance.
  • Commercial contracts.
  • Catastrophe bonds.
  • Leasing and hiring.
  • Surety agreements.
  • Guarantees.
  • Waivers.
  • Indemnities.
  • Disclaimers.
  • Voluntary and involuntary.
  • Self-insurance and captives.
  • Methods of financing risk retention.

• Understand how risk is managed in practice (16%)

  • Describe the main risk management roles and responsibilities.
  • Describe the generic risk management process and the role of enterprise risk management (ERM).
  • Describe the risk management factors unique to insurance brokers.
  • Describe the function of the main risk management service providers.
  • Directors and non-executive directors, board of directors, sub committees, corporate governance, duty to shareholders.
  • Chief Risk Officer, risk managers and teams.
  • Internal audit.
  • Generic risk management process.
  • ERM, including benefits and drawbacks.
  • Errors and omissions.
  • Insurer financial strength.
  • Loss adjusters.
  • Loss assessors.
  • Forensic specialists.
  • Legal services.
  • Governance, risk and compliance (GRC) consultants.
  • Appraisal specialists.
  • Other service providers.

• Understand business continuity management (5.33%)

  • Describe the role of and standard approach to business continuity management (BCM).
  • Describe the main elements of the BCM process.
  • Reasons for BCM, including benefits and drawbacks.
  • Standard approach for BCM.
  • Crisis management.
  • Continuity planning.
  • Recovery planning.

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 I11 examination syllabus 2027

  p. 1, Important notes, syllabus applicability (start)

• CII I11 examination syllabus 2027

  p. 2, Additional resources

• CII I11 examination syllabus 2027

  p. 1, Objective

• CII I11 examination syllabus 2027

  p. 1, Important notes, English law and practice bullet

• CII I11 examination syllabus 2027

  p. 1, Summary of learning outcomes

• CII I11 Supporting information for the 2027 syllabus

  p. 1, document heading

• CII I11 examination syllabus 2027

  p. 1, Important notes, syllabus applicability (end)

• CII I11 Examination Guide 2027

  p. 5, Examination Information

• CII I11 Examination Guide 2027

  p. 5, Examination Information, paragraph 5 (MCQ structure)

• CII Important exam deadlines

  Opening paragraph, MCQ availability

• CII Introduction to Risk Management (I11) unit page

  Key product information, Assessment

• CII Understanding your exam result

  p. 1, Awarding process – MCQ exams

• CII Introduction to Risk Management (I11) unit page

  Product purchase options, Enrolment only

• CII Introduction to Risk Management (I11) unit page

  Enrolment only, included assessment

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