CII IF3 study guide
CII IF3 · Work through your exam, one topic at a time.
IF3, Insurance, Legal and Regulatory, is a CII qualifications-unit title. The CII is a professional body for insurance and financial planning; this page is an independent study guide and is not affiliated with, endorsed by, or acting for the CII. The CII website page for IF3 returned a 'page not found' error when retrieved on 4 November 2026, so no official specification details (question count, duration, pass mark, fee, syllabus weighting or result validity) could be verified for this guide. The domain outline used here - legal principles and regulation of insurance business; formation and terms of insurance contracts; the regulatory framework and conduct of business; and insurance practice and intermediaries - is a study structure, not a confirmed CII syllabus. Topics on this exam: Insurance law and regulation (legal principles, contract law, regulation of insurance business), Insurance contracts (proposal, disclosure, policy terms, claims), Regulatory framework and conduct of business (FCA/PRA, treating customers fairly), and Insurance practice and the role of intermediaries (agency, brokers, market practice). The CII IF3 study guide has 4 sections and about 1,780 words.
01Insurance law and regulation
IF3 tests the legal skeleton of insurance: formation of the contract, insurable interest, indemnity and its limits, subrogation, contribution, proximate cause, and the statutory regulation of insurers. You need to apply principles to short scenarios, not just define them.
463 words, about 2 min02Insurance contracts
A proposal form gathers information; it is not automatically the offer. Cover may begin on a cover note or temporary contract.
442 words, about 2 min03Regulatory framework and conduct of business
The PRA regulates prudential soundness of insurers; the FCA regulates conduct and market behaviour. Both derive powers from FSMA 2000.
420 words, about 2 min04Insurance practice and the role of intermediaries
Insurance distribution depends on agency. An agent acts for a principal with authority: actual (express or implied) or ostensible (holding out by the principal).
455 words, about 2 min