C11 study materials - IIC C11 dumps VCE

IIC C11 : Principles and Practice of Insurance

Exam Code: C11

Exam Name: Principles and Practice of Insurance

Updated: Oct 07, 2026

Q & A: 103 Questions and Answers

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IIC C11 Exam Syllabus Topics:

SectionWeightObjectives
Property Insurance15-20%- Valuation and Coinsurance
- Property Coverage Forms
- Policy Conditions and Exclusions
Risk and Insurance15-20%- Risk Identification and Measurement
- Risk Management Process
- Nature of Risk
- Insurable Risk
Insurance Industry Overview10-15%- Insurance Market Structure
- Claims Handling
- Regulation and Legislation
Automobile Insurance15-20%- Commercial Automobile Coverage
- Personal Automobile Coverage
- Mandatory Coverage Requirements
Liability Insurance15-20%- Professional Liability
- Commercial General Liability (CGL)
- General Liability Concepts
Insurance Operations and Contracts20-25%- Insurance Contract Basics
- Underwriting Process
- Policy Structure and Interpretation
- Fundamental Principles of Insurance

IIC Principles and Practice of Insurance Sample Questions:

Question #1

Why would a policyholder use an intermediary?

  • A. They represent all insurers
  • B. They make reinsurance arrangements for clients
  • C. They have unlimited liability
  • D. They help to identify clients' insurance needs
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

What type of cancellation occurs if theinsuredcancels the policy before expiry?

  • A. Pro rata
  • B. Short rate
  • C. Half-term
  • D. Partial-term
Reveal Solution  Discussion  0

Correct Answer: A,B  🗳️

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Question #3

What are many of the statutory conditions designed to accomplish?

  • A. Outline the steps to take to cancel the policy
  • B. Provide clarity on the intent of the policy
  • C. Shift the onus of proof from the insured to the insurer
  • D. State how PIPEDA applies to the insured and insurer
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

If one in every five houses suffers a $50,000 loss each year, and all houses have the same value, what would the pure premium be for each homeowner?

  • A. $100,000
  • B. $2,500
  • C. $5,000
  • D. $10,000
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

What is a cover note?

  • A. File notes confirming insurance discussions between the intermediary and the insured
  • B. Document issued by intermediaries to inform the insured that coverage has been arranged
  • C. Purchase agreement between the agent or broker and the insurer
  • D. An amendment added to a written document that alters its provisions
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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