M92のCII試験問題の高い合格率は98％〜100％であるため、正確かつ最新のM92試験トレントで市場に並ぶものがないと誇らしげに主張できます。 成功をもたらす当社の強みと、取得する意図のある認定を疑うことはありません。 M92実践教材を使用して、候補者の勝利をますます証明しています。CertJuken あなたは彼らのような勝者の一人になると信じています。 Insurance Business and Finance (IBF)のM92学習教材を購入するだけで、より明るい未来を手にすることができます。
| Section | Weight | Objectives |
|---|---|---|
| Understand accounting principles and application | 18% | - Income, expenditure and profit measurement - Basic accounting concepts and standards - Asset and liability recognition |
| Understand corporate governance principles | 12% | - Governance structures and responsibilities - Risk management frameworks - Compliance and ethical requirements |
| Understand insurance business management | 12% | - Operational activities and controls - Business objectives and strategy - Underwriting and claims processes |
| Understand the structure of the insurance industry | 10% | - Market distribution channels - Main sectors and participants - Regulatory framework and bodies |
| Understand roles and functions within insurance organisations | 8% | - Professional roles and responsibilities - Key departments and their interactions |
| Understand insurance company accounts and standards | 10% | - Specific accounting rules for insurers - Statutory and regulatory reporting - Solvency and capital reporting |
| Understand financial strength of insurance companies | 10% | - Reserving and risk capital - Rating agencies and financial assessments - Capital adequacy requirements |
| Case studies integrating all learning outcomes | 10% | |
| Analyse business performance using financial ratios | 10% | - Profitability and efficiency ratios - Interpretation and limitations of ratios - Solvency and liquidity measures |
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質問 # 76
What is the consequence of using some of the reserves to fund a new project?
正解：C
解説：
Reserves, in this context, refer to distributable profits or capital reserves, not the technical claims reserves (which are a liability for policyholders). If a company redeploys some of these free reserves to fund a new project, it is choosing to reinvest its capital rather than holding it as a liquid buffer or distributing it. The direct consequence, as confirmed by the source, is that any subsequent increase in profits generated from this new project will increase the overall pool of profits from which shareholder dividends are paid. This is a strategic capital management decision, balancing the reinvestment of retained earnings for growth against the immediate return of capital to shareholders. While using reserves reduces the immediate liquid net asset position, it is done with the expectation of generating a return on equity that exceeds the cost of capital. This action links directly to the Risk Management topic, where a strategic decision to invest in a project with a viable internal rate of return must be squared with the need to maintain the solvency coverage ratio above the Individual Capital Guidance provided by the PRA.
質問 # 77
What information is used to calculate the return on equity?
正解：B
解説：
Return on Equity (ROE) is the quintessential measure of profitability from the shareholders' perspective. The exact components, as verified by the source, are "Profit after tax and capital." The formula is Net Profit After Tax / Average Shareholders' Equity. The numerator represents the "bottom line" earnings available to common stockholders after all expenses, interest, and tax are paid. The denominator is the equity capital invested, which is the net financial position from the balance sheet representing the shareholders' stake. This ratio is a key topic under Financial Performance Ratios. It measures how efficiently management uses the company's equity base to generate profits. It is a fundamentally different metric than the combined ratio (which measures underwriting profit before investment returns) or the liquidity ratio (which shows the relationship of liabilities to cash and net liquid assets). A company can have a good combined ratio but a lower ROE than competitors, which would most likely be explained by poor investment returns, linking asset management directly to shareholder value.
質問 # 78
The company secretary has responsibility for keeping the statutory registers. Which is NOT an example of a statutory register?
正解：B
解説：
The Companies Act 2006 mandates that every registered company must maintain specific statutory registers that record key details of its governance and share ownership as they occur. These include, among others, the register of members (shareholders), the register of directors, and the register of directors' interests in company shares. A register of assets is not a statutory register required by company law; it is an internal management or accounting record. While meticulously tracking fixed assets (like machinery classified as non-current assets) is essential for financial accounting and insurance capital adequacy tests, it is not kept in a statutory register in the same legal sense. The source confirms this exclusion. The company secretary's duty to maintain statutory registers is a core element of corporate compliance discussed in The Insurance Company Environment main topic, ensuring that legal ownership and governance structures are transparent and accurate for both the firm and any regulatory review, and these records must be kept at the company's registered office.
質問 # 79
An international composite insurer is drafting its annual report. In accordance with the Companies Act 2006, what is the position regarding the inclusion of a chairman's statement in this report?
正解：D
解説：
Under the Companies Act 2006, there is no statutory mandate requiring a chairman's statement to be included in the annual report. The legally required components are the strategic report, the directors' report, and the financial statements, along with the auditor's report. A chairman's statement is a voluntary but customary piece of corporate communication. It typically provides a personal, non-audited overview of the business's performance and strategy. This principle holds true for all companies, whether a composite insurer, a specialist retail group, or any other public or private entity. As highlighted in the source material, where it was noted that a statement from a London-based chairman is "not required" and is "optional in all circumstances," this underscores that its inclusion is a matter of best practice in governance and investor relations, not a legal compulsion. This falls under the understanding of the financial reporting environment within the Insurance Company Environment and Financial Accounting Principles topics.
質問 # 80
An insurer's Articles of Association must include
正解：B
解説：
The Articles of Association are one of the two foundational constitutional documents for every company registered with Companies House (the other being the Memorandum/Certificate of Incorporation). Their legal purpose is to set out the regulations for the company's internal management and administration. This includes, for example, the rules for appointing directors, issuing shares, conducting general meetings, and the voting rights attached to different classes of shares. They are a binding contract between the company and its shareholders. The Articles do not contain operational documents like premium rates or board minutes, nor do they contain the year-end statutory financial reports. The source material explicitly states they "must include the regulations for the running of the insurer's internal affairs." This governance framework, explored in the Insurance Company Environment topic, is critical because any major strategic shift, such as a takeover plan needing shareholder agreement at a general meeting, must be executed in strict compliance with the procedures defined in these Articles.
質問 # 81
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