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Chartered Insurance Institute
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London market underwriting principles

LM3 (15 Certificate credits)

This unit develops knowledge and understanding of the underwriting disciplines within the London Market, key elements of the cycle, and explores the opportunities and challenges posed by using different distribution channels such as delegated underwriting. Building on previous knowledge and understanding gained from completion of units LM1 and LM2, unit LM3 also considers the implications of policy wording in practice, and the importance of business planning and capital setting in the London Market.

Completion of this unit provides 15 credits in the CII qualifications framework.

Please note: If you hold IF3 and subsequently gain LM3 you will gain no additional credits.

Download a free specimen exam guide for examinations from 01 May 2017 to 30 Apr 2018 »

Study material testing period

Please note that the 2017 edition of the LM3 study text is applicable to exams sat from 01 May 2017 to 31 December 2018. Study text enrolments are, therefore, valid until 31 December 2018.

 

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Study package

Members
£228.00
Non-members
£299.00
LM3 study text (printed and ebook) and exam package - 2017/18 edition

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


LM3 study text (printed and ebook) and exam package - 2017/18 edition

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

Revision aids - 2017/18 edition

Members
£26.00
Non-members
£31.00
Key fact booklet (Printed and ebook) - 2017/18 edition

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 (Printed and ebook) - 2017/18 edition

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.

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 LM3 exam

| Fees for 2017 exams are shown. If booking for 2018 the correct fee will be shown post login during checkout.

 

Certificate in London Market Insurance units

This unit may count towards:

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 LM3 examination consists of 75 multiple choice questions (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.

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.  

 

Assessment information

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