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Chartered Insurance Institute
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London market insurance principles and practices

LM2 (15 Certificate credits)

(LM2) London market insurance principles and practices
This unit builds on the learning provided by unit LM1, covering additional subject areas and developing a broader understanding of insurance process and practice across the London market. Topics that you will develop knowledge and understanding of include the unique characteristics of the market and its appeal to international clients.

Completion of this unit provides 15 credits and in combination with LM1, provides a total of 25 credits in the CII qualifications framework, granting the Award in London Market Insurance.

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Members receive exclusive discounts on CII tuition, courses and exam entry


Study package

Members
£228.00
Non-members
£299.00
LM2 study text and exam package

Enrolment includes everything you need for a single fee: study text with updates, RevisionMate online study support and first exam entry.

Study text 
Available as either a printed book or ebook, the study text includes electronic updates during this period. It covers the exam syllabus in a straightforward and user-friendly format, and includes examples, key point summaries and self-test questions. Please note: ebook study text is not refundable once downloaded.

RevisionMate
Online study support includes end of chapter quiz questions, a mock exam, student discussion forum and a study planner.

Exam entry
Exams can be booked at the point of enrolment, or at a later date by calling Customer Service. Re-sits can be booked by calling Customer Service.

ebooks

ebooks are compatible with most portable electronic devices including Android and Windows tablets/smart phones, Kindles and iPads/iPhones. They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

Please note:

  • ebooks are not pdf files and cannot be printed.
  • the reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

An ebook provides the same benefits as the the printed study text, with the same enrolment period, updates to content and access to RevisionMate. The cost (incl.VAT) is the same as the equivalent printed study text.

Additional benefits include:

  • Portability - study on the move and when using a printed study text isn't practical
  • Reduced paper use - paperless study reduces your impact on the environment
  • No postage fee - ebooks are delivered electronically through RevisionMate
  • Fast delivery - we aim for same day delivery for orders before midday Monday to Friday(customers receive an email to confirm their ebook is ready to download).

Depending on the device used, ebook features can include:

  • Annotation tools - these include the ability to add notes to pages and highlight key points
  • Easy navigation - interactive contents page and search function help you pinpoint content
  • Quick web link access - related articles and resources can be accessed with a single click
  • In-built dictionary - definitions for unfamiliar words
  • Read-aloud - available on supporting devices, allowing increased accessibility.

Find out more


LM2 study text and exam package

Enrolment includes everything you need for a single fee: study text with updates, RevisionMate online study support and first exam entry.

Study text 
Available as either a printed book or ebook, the study text includes electronic updates during this period. It covers the exam syllabus in a straightforward and user-friendly format, and includes examples, key point summaries and self-test questions. Please note: ebook study text is not refundable once downloaded.

RevisionMate
Online study support includes end of chapter quiz questions, a mock exam, student discussion forum and a study planner.

Exam entry
Exams can be booked at the point of enrolment, or at a later date by calling Customer Service. Re-sits can be booked by calling Customer Service.

ebooks

ebooks are compatible with most portable electronic devices including Android and Windows tablets/smart phones, Kindles and iPads/iPhones. They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

Please note:

  • ebooks are not pdf files and cannot be printed.
  • the reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

An ebook provides the same benefits as the the printed study text, with the same enrolment period, updates to content and access to RevisionMate. The cost (incl.VAT) is the same as the equivalent printed study text.

Additional benefits include:

  • Portability - study on the move and when using a printed study text isn't practical
  • Reduced paper use - paperless study reduces your impact on the environment
  • No postage fee - ebooks are delivered electronically through RevisionMate
  • Fast delivery - we aim for same day delivery for orders before midday Monday to Friday(customers receive an email to confirm their ebook is ready to download).

Depending on the device used, ebook features can include:

  • Annotation tools - these include the ability to add notes to pages and highlight key points
  • Easy navigation - interactive contents page and search function help you pinpoint content
  • Quick web link access - related articles and resources can be accessed with a single click
  • In-built dictionary - definitions for unfamiliar words
  • Read-aloud - available on supporting devices, allowing increased accessibility.

Find out more

Study option updates

Members
£61.00
Non-members
£76.00
LM2 Update your printed study text to the next edition

We offer the option for you to extend the life of your enrolment once your course has expired and receive the next edition of the study text together with electronic updates. This option is renewable on an annual basis and you will be sent a letter inviting you to update your material.

LM2 Update your printed study text to the next edition

We offer the option for you to extend the life of your enrolment once your course has expired and receive the next edition of the study text together with electronic updates. This option is renewable on an annual basis and you will be sent a letter inviting you to update your material.

Members
£58.00
Non-members
£70.00
LM2 Update your ebook study text to the next edition (not refundable once downloaded)

We offer the option for you to extend the life of your enrolment once your course has expired and receive the next edition of the ebook study text together with electronic updates. This option is renewable on an annual basis and you will be sent a letter inviting you to update your material.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

LM2 Update your ebook study text to the next edition (not refundable once downloaded)

We offer the option for you to extend the life of your enrolment once your course has expired and receive the next edition of the ebook study text together with electronic updates. This option is renewable on an annual basis and you will be sent a letter inviting you to update your material.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Revision aids

Members
£26.00
Non-members
£31.00
Key fact booklet (applicable to exams sat from 01 May 2016 - 31 Dec 2017)

Comprehensive pocket-sized booklets summarising the key information contained in the coursebook. These are perfect for studying when travelling to and from work or in situations when reading a coursebook is impractical.

Key fact booklet (applicable to exams sat from 01 May 2016 - 31 Dec 2017)

Comprehensive pocket-sized booklets summarising the key information contained in the coursebook. These are perfect for studying when travelling to and from work or in situations when reading a coursebook is impractical.

Members
£26.00
Non-members
£31.00
e-key fact booklet (applicable to exams sat 01 May 16 to 31 Dec 17)

Summarising the key information contained in the study text (applicable to exams sat 01 May 2016 to 31 Dec 2017), e-key fact booklets are perfect for studying when travelling to and from work or in situations when reading a study text is impractical.

e-key fact booklets are delivered via RevisionMate, the CII's online study tool and are compatible with most portable electronic devices including Android tablets/smart phones, Kindles and iPads/iPhones, using appropriate ereader software.

They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

Please note:
• e-key fact booklets are not pdf files and cannot be printed.
• the reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

Sample chapter download
To check that the file formats are compatible with your device/chosen e-reader software prior to purchase, click on the link below to download a free sample.

• Free sample chapters

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

e-key fact booklet (applicable to exams sat 01 May 16 to 31 Dec 17)

Summarising the key information contained in the study text (applicable to exams sat 01 May 2016 to 31 Dec 2017), e-key fact booklets are perfect for studying when travelling to and from work or in situations when reading a study text is impractical.

e-key fact booklets are delivered via RevisionMate, the CII's online study tool and are compatible with most portable electronic devices including Android tablets/smart phones, Kindles and iPads/iPhones, using appropriate ereader software.

They can also be viewed on desktop and laptop computers using appropriate EPUB/Kindle reader software (required).

Please note:
• e-key fact booklets are not pdf files and cannot be printed.
• the reading experience will depend on the portable device used or the reading software installed, if viewed on a computer.

Sample chapter download
To check that the file formats are compatible with your device/chosen e-reader software prior to purchase, click on the link below to download a free sample.

• Free sample chapters

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

Members
£26.00
Non-members
£31.00
LM2 question pack – 2016 edition

Delivered online through RevisionMate, packs contain 225 questions and provide comprehensive, flexible and interactive self-testing of the unit syllabus.

This edition is based on the exam syllabus examined from 01 May 2016 - 31 Dec 2017. Please note, access to the questions will not be granted after this period.

Instructions on how to access the online question pack will be sent to your registered email address within two working days of your order being placed.

Please note, questions are designed to test knowledge of the unit syllabus in preparation for the exam but are not a product of the same development process as the actual CII examination question bank.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

 

LM2 question pack – 2016 edition

Delivered online through RevisionMate, packs contain 225 questions and provide comprehensive, flexible and interactive self-testing of the unit syllabus.

This edition is based on the exam syllabus examined from 01 May 2016 - 31 Dec 2017. Please note, access to the questions will not be granted after this period.

Instructions on how to access the online question pack will be sent to your registered email address within two working days of your order being placed.

Please note, questions are designed to test knowledge of the unit syllabus in preparation for the exam but are not a product of the same development process as the actual CII examination question bank.

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

 

Members
£12.00
Non-members
£13.00
LM2 Examination Guide for exams from 01 May 2016 – 31 Dec 2017

Multiple choice question Examination guides consist of a specimen examination, answers and useful hints on how to prepare for the examination. Multiple choice question Examination guides are updated annually to take into account syllabus and legislative changes.

Important note: Study option enrolees for this unit can download the latest exam guide for FREE from www.revisionmate.com

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

LM2 Examination Guide for exams from 01 May 2016 – 31 Dec 2017

Multiple choice question Examination guides consist of a specimen examination, answers and useful hints on how to prepare for the examination. Multiple choice question Examination guides are updated annually to take into account syllabus and legislative changes.

Important note: Study option enrolees for this unit can download the latest exam guide for FREE from www.revisionmate.com

Non-EU candidates should note: if buying this option from outside the EU, you will be charged a fee without VAT. The price you will see throughout the web checkout process will be inclusive of VAT, however if you are outside the EU, your card will be charged the 'ex VAT' price and this will be reflected in the receipt you receive when payment is complete.

LM2 revision course

Members
£395.00
Non-members
£470.00
Revision day (2 days)
 
Select course & date

Revision day (2 days)

Two day revision workshop

CII revision courses provide expert tutor support ahead of the exam and are designed to improve your chances of passing.

Two day workshops are structured to cover key elements of the syllabus and give suggestions for effective revision and exam technique. There is also allotted time for you to practise your exam technique and to gain insightful feedback on your answers.

In summary, two day workshops enable you to:

  • Explore the syllabus in detail
  • Clarify areas of concern in the syllabus
  • Discover what the examiner is looking for
  • Discuss common mistakes and how to avoid them
  • Learn useful revision and exam techniques
  • Practice and gain feedback on your exam technique

Learn more about CII face-to-face training venues »

Redeem exam voucher

Book here if you have not yet booked your exam and have a valid exam voucher. You will not be charged.

Members
£106.00
Non-members
£148.00
Unit LM2 exam
 

Introduction

CII qualifications involve the completion of one or more units, each covering an individually assessed topic. Assessment methods vary and depend on a unit's level and subject matter.


Assessment methods include:

  • Multiple-choice exams - the assessment method for Award, Certificate, and Diploma in Regulated Financial Planning units R01-R05 assessed in the UK. Exams are delivered on-screen at a network of over 40 public centres across the UK. Sittings are available year-round, often on a weekly basis.
  • Written exams - the assessment method for some Diploma and Advanced Diploma units and all units examined outside the UK. Sittings are typically available twice-yearly in April and October at over 50 public centres throughout the UK and over 120 public centres outside the UK.
  • Coursework assessment - available for a select number of Advanced Diploma in Insurance units, Advanced Diploma in Financial Planning unit (AF6) Senior management and supervision and financial services unit (J09) Paraplanning, coursework assessment involves the completion of three written assignments during a 12 month period.
  • Mixed assessment - available for a number of Diploma in Insurance units and all Diploma in Insurance units by April 2018 (unit codes begin with the letter M). This involves the successful completion of both a coursework assignment and a multiple-choice exam. This has an 18 month enrolment period.
  • Dissertation assessment - available for Advanced Diploma units (991) London market insurance specialisation and (994) Insurance market specialisation. This involves the submission of a dissertation proposal and an 11,000 word dissertation. This has an 18 month enrolment period. 

Find out more

It is essential that candidates familiarise themselves with the guidelines and instructions which are shown on the CII website under the relevant units. In addition candidates should familiarise themselves with the coursework and dissertation policies as well as exam policies (before the assessment) and notes to results (after the assessment).

This unit may count towards:

Exam Guide Update

The LM2 Examination Guide for exams from 1 May 2016 to 31 December 2017 was first published in February 2016. Any questions which have been amended since the examination guide was first published will appear below.

 

LM2 Questions 14, 35, 37, 38 and 73 - amended 19-09-16 »

 

Questions 17 and 73 - amended 01.06.17

Qualification update

Testing position

  • Examinations are based on the published syllabus. Syllabuses are available free of charge on the CII website www.cii.co.uk or on request.
  • Candidates will be examined on the basis of law and practice in England unless otherwise stated.
  • The LM2 examination consists of 55 multiple choice questions (MCQs) and 4 case studies, each comprising 5 MCQs. 2 hours are allowed for this examination.
  • The general rule is that legislative and industry changes will not be examined earlier than 3 months after they come into effect.
  • Candidates must keep up to date with legislative and industry changes that occur.

Solvency II Directive

Solvency II comes into effect on 1 January 2016 and examinations will be reflective of the Directive from 1 May 2016.

The Insurance Act 2015

The Insurance Act 2015 comes into effect on 12 August 2016 and examinations will be reflective of the Act from 1 October 2016.

Insurance Premium Tax

Changes to the rates of Insurance Premium Tax come into effect on 1 October 2016.  Examinations will be reflective of these changes from 1 October 2016.

EU referendum

On 23 June 2016, the UK voted to leave the European Union (EU).

The UK Government invoked 'Article 50' of the Lisbon Treaty on 29 March 2017. In doing so, the two-year negotiation period which will result in Britain leaving the EU began. This means that, at the time of publication, the UK's membership of the EU will cease on 29 March 2019.

Until this final 'withdrawal agreement' is entered into, the UK will continue to be a full member of the EU, compliant with all current rules and regulations, and firms must continue to abide by their obligations under UK law, including those derived from the EU, and continue with the implementation of all legislation that is still to come into effect.

The longer term impact of the decision to leave the EU on the UK's overall regulatory framework will depend, in part, on the relationship agreed between the UK Government and the EU to replace the UK's current membership at the end of the 'Article 50' negotiation period.

Please note: The UK decision to leave the European Union will have no impact on the 2017- 2018 CII syllabuses or exams. Changes that may affect future exam syllabuses will be announced as they arise.  

Financial Services Compensation Scheme - deposit compensation limits

Changes to the Financial Services Compensation Scheme (FSCS) deposit compensation limits come into effect on 30 January 2017.  Examinations will be reflective of these changes from 1 May 2017.

Insurance Premium Tax

Changes to the rates of Insurance Premium Tax come into effect on 1 June 2017.  Examinations will be reflective of these changes from 1 June 2017.

 

 

 

 

Learning solutions update

These updates are Learning Solutions updates for study purposes.

LM2 2016-17 edition

Please note that the 2016-17 edition of your study text will be valid for examinations to be held from 1 May 2016 until 31 December 2017.

Pdf icon small LM2 Bulletin March 2016

Pdf icon small LM2_2016-17_Web_update_01_24-03-2016

Pdf icon small LM2_2016-17_Web_update_02_15-08-2016

Pdf icon small LM2_2016-17_Web_update_03_29-11-2016

Pdf icon small LM2_2016-17_Web_update_04_07-03-2017

Pdf icon small LM2_2016-17_Web_update_05_21-07-2017

Pdf icon small To view a list of the main areas of change in the 2016-17 edition, please click here.

View the latest information on:

Pdf icon small Insurance current editions

 

Assessment information

It is important that candidates entering for a CII assessment familiarise themselves with our service, in particular the rules and procedures that are in place.