CII LM3 Practice Questions - CII LM3 London Market Underwriting Principles Exam

What is the primary prudential role of the Prudential Regulation Authority (PRA) in relation to UK insurers?

Setting the retail price of every insurance product sold in the UK Authorising, regulating and supervising insurers to promote their safety and soundness and the protection of policyholders Acting as the sole conduct regulator for insurance intermediaries Replacing Lloyd's as the managing agent for every syndicate

Correct Answer:

Authorising, regulating and supervising insurers to promote their safety and soundness and the protection of policyholders

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