Exam IF1 Topic 1 Question 9 Discussion

Actual exam question for CII's IF1 exam
Question #: 9
Topic #: 1

A Terms of Business Agreement between an insurer and an intermediary sets out the

A. framework for the commercial relationship, which defines and allocates the respective responsibilities and rights to each party.

B. criteria to apply when reporting suspicious incidents to the Money Laundering Reporting Officer.

C. disaster recovery procedures to apply if there is a major disaster affecting the insurer.

D. agreed claims procedures as stated in the Insurance: Conduct of Business sourcebook (ICOBS).

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