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London market underwriting principles

LM3 (15 CII credits – Certificate level)

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.

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

Download 2020 syllabus (PDF)

Download 2020 exam guide (PDF)

Assessment 

  • 2 hour exam
  • 75 multiple choice questions
  • 70% nominal pass mark

Recommended study hours: 60

Prepare for success with Enrolment plus

Improve your chances of exam success with Enrolment plus and receive extra LM3 revision aids with your enrolment.

Save while you study: Members save £49 purchasing extra revision aids with Enrolment plus. Non-members save £46.

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Enrolment plus – 2020 edition (applicable to exams sat 01 Jan 20 to 31 Dec 20)

Information Study text, exam entry and additional revision aids

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Enrolment – 2020 edition (applicable to exams sat 01 Jan 20 to 31 Dec 20)

Information Study text and exam entry

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Information Unit LM3 exam

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Revision aids – 2020 edition (applicable to exams sat 01 Jan 20 to 31 Dec 20)

Information Key facts booklet (Digital only)

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Information Key facts booklet (Printed and digital)

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Information Question pack

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Information Update your study text to the next edition (Printed and digital)

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