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CII LM3 · London Market underwriting principles
Practice questions built for the LM3 exam — learning outcome by learning outcome
LM3-style multiple choice questions across all 5 syllabus learning outcomes. Scenario-based questions on the London Market framework, policy wording, business planning and capital, pricing, and distribution — with instant feedback and progress tracking so you revise the way the exam actually tests you.
10 free questions · No account required.
Built for LM3 candidates
Whether you are building on LM1 and LM2, returning to study, or consolidating underwriting disciplines, this resource helps you practise the way LM3 is assessed.
Exam-format questions
Standard multiple choice with four options (a–d) — the same core format as the LM3 paper.
Syllabus aligned
All 5 learning outcomes from the CII LM3 specification — framework, policy wording, planning and capital, pricing, and distribution.
Learn from every answer
See whether you were right or wrong immediately, with a short explanation after each question.
Full syllabus coverage
Every LM3 learning outcome is available as its own practice test. Work through topics as you study, or sit the full 75-question exam when you are ready. Browse all learning outcomes to see which are free or locked.
Full LM3 practice exam
75 questions across all learning outcomes — the same length as the real exam
- All 5 learning outcomes
- Weighted to the syllabus
- Exam conditions
LO 1 — Framework of business
Syllabus outcomes 1.1–1.2 · ~5 exam questions
- Global & domestic markets
- Sources of capital
- Regulation & intermediaries
LO 2 — Policy wording
Syllabus outcomes 2.1–2.4 · ~16 exam questions
- Contracting parties
- Constructing wordings
- Contract interpretation
LO 3 — Planning & capital
Syllabus outcomes 3.1–3.4 · ~18 exam questions
- Business planning
- Monitoring & reporting
- Capital & technical account
LO 4 — Pricing
Syllabus outcomes 4.1–4.3 · ~12 exam questions
- Statistical theory
- Constructing a rate
- RDS & catastrophe models
LO 5 — Distribution
Syllabus outcomes 5.1–5.6 · ~24 exam questions
- Types of placement
- Delegated underwriting
- Controls & stakeholders
How it works
Three steps — no complicated setup.
Step 1
Unlock full access
Begin a monthly plan, then continue at £19.99/month if you keep the plan. Set your password when you return.
Step 2
Choose a topic
Select a learning outcome, sub-topic, or the full 75-question exam.
Step 3
Practise and review
Answer LM3-style questions, read explanations, and track your scores over time.
What other LM3 candidates say
Early feedback from people using the site to prepare for their exam.
“Distribution alone is nearly a third of the paper. Being able to drill placement types, delegated authority, and controls separately — then sit a full 75-question exam — has made my revision much more focused.”
“The scenario questions feel closer to the real paper than generic market quizzes I tried elsewhere. I use the progress screen to see which learning outcomes I keep getting wrong.”
“Pricing and capital used to blur together for me. The learning-outcome tests helped me learn the syllabus structure, and the explanations after each answer are what make it useful — not just a score.”
Try free samples
10 free LM3-style questions with explanations — no account required. The weekly plan unlocks every learning outcome and the full 75-question exam.
Try free samples
10 free questions · No account required.