IIC C11 Q&A - in .pdf

  • Exam Code: C11
  • Exam Name: Principles and Practice of Insurance
  • Updated: Aug 09, 2026
  • Q & A: 103 Questions and Answers
  • PDF Price: $59.99
  • Printable IIC C11 PDF Format. It is an electronic file format regardless of the operating system platform.
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IIC C11 Q&A - Testing Engine

  • Exam Code: C11
  • Exam Name: Principles and Practice of Insurance
  • Updated: Aug 09, 2026
  • Q & A: 103 Questions and Answers
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IIC C11 Exam Syllabus Topics:

SectionObjectives
Topic 1: Insurance Principles- Insurance Market Structure
  • 1. Regulatory environment overview
    • 2. Roles of insurers, brokers, and intermediaries
      - Fundamentals of Insurance
      • 1. Risk concepts and risk pooling
        • 2. Nature and purpose of insurance
          Topic 2: Insurance Practice- Underwriting and Pricing
          • 1. Premium calculation principles
            • 2. Risk assessment methods
              - Claims Handling
              • 1. Claims process stages
                • 2. Fraud detection and prevention
                  Topic 3: Legal Principles of Insurance- Insurable Interest and Indemnity
                  • 1. Principle of indemnity and application
                    • 2. Insurable interest requirements
                      - Contract Law Basics
                      • 1. Formation of insurance contracts
                        • 2. Utmost good faith principle

                          IIC Principles and Practice of Insurance Sample Questions:

                          1. With respect to an insurance contract, what is the best example ofconsideration?

                          A) Jennifer agrees to sell a $20,000 painting for $10,000 to her friend Shania
                          B) Martin is returning a shirt he purchased online for $35 because he found it cheaper elsewhere
                          C) Calvin wants to start a tutoring business and may charge $40 per hour
                          D) Yasmin offers to sell her dog for $500 but Paula refuses


                          2. Which insurance term is defined as providing compensation for losses or expenses that have been incurred?

                          A) Pure captive
                          B) Salvage
                          C) Utmost good faith
                          D) Indemnify


                          3. Which statement reflects how an insurer invests their capital?

                          A) There are no restrictions as to how an insurer can invest their capital
                          B) Insurers are compelled by regulations to invest in non-liquid assets
                          C) Provincial regulations allow insurers to invest in foreign bond markets
                          D) Government regulations specify the types of investmentsnot permittedto insurers


                          4. Antonio lights a firecracker and throws it to Brett. Brett tosses it to Sandra. Sandra catches it and throws it to Celina. It explodes in Celina's hands, injuring her. Who is the immediate cause of the loss?

                          A) Sandra
                          B) Brett
                          C) Celina and Antonio
                          D) Antonio and Brett


                          5. Which principle of insurance requires that an insured must have a financial interest in the subject matter of insurance at the time of loss?

                          A) Insurable interest
                          B) Subrogation
                          C) Utmost good faith
                          D) Indemnity


                          Solutions:

                          Question # 1
                          Answer: A
                          Question # 2
                          Answer: C,D
                          Question # 3
                          Answer: D
                          Question # 4
                          Answer: A
                          Question # 5
                          Answer: A

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