IIC C11 Questions & Answers - in .pdf
- Vendor: IIC
- Exam Code: C11
- Exam Name: Principles and Practice of Insurance
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- Exam Code: C11
- Exam Name: Principles and Practice of Insurance
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IIC C11 Exam Overview:
| Certification Vendor: | Insurance Institute of Canada (IIC) |
|---|---|
| Exam Name: | Principles and Practice of Insurance |
| Exam Number: | C11 |
| Certificate Validity Period: | Valid while CIP program requirements are met; no fixed expiry |
| Exam Format: | Scenario-based questions, Multiple-choice questions, Knowledge-based questions |
| Real Exam Qty: | 100 |
| Related Certifications: | C13 Insurance Against Liability – Part 1 C14 Automobile Insurance – Part 1 C12 Insurance on Property |
| Exam Price: | CAD 418 |
| Passing Score: | 60% (120/200 points) |
| Exam Duration: | 120 minutes |
| Available Languages: | English, French |
| Recommended Training: | C11 Official Course Materials |
| Exam Registration: | Official Registration |
| Sample Questions: | IIC C11 Sample Questions |
| Exam Way: | Online proctored or in-person at authorized centres |
| Pre Condition: | None; recommended as first course in CIP program |
| Official Syllabus URL: | https://www.insuranceinstitute.ca/en/Courses/CIP/C11 |
IIC C11 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Introduction to Insurance | 10–15% | - Basic concepts: risk, peril, hazard - Role of insurance in economy and society - Purpose and function of insurance |
| Insurance Policy Structure and Provisions | 20–25% | - Endorsements and modifications - Policy components: declarations, insuring agreement, exclusions, conditions - Interpretation of policy wording |
| Insurance Industry Structure and Stakeholders | 15–20% | - Insurers, intermediaries, regulators - Roles: underwriting, claims, reinsurance - Legislation and regulation in Canada |
| Legal Principles of Insurance | 20–25% | - Insurable interest, utmost good faith - Subrogation and contribution - Contract law fundamentals - Principle of indemnity |
| Risk Management and Application | 15–20% | - Risk identification, assessment, treatment - Ethics and professional conduct - Application of principles to personal and commercial contexts |
IIC Principles and Practice of Insurance Sample Questions:
Question #1
What type of cancellation occurs if theinsuredcancels the policy before expiry?
A. Half-term
B. Pro rata
C. Short rate
D. Partial-term
Question #2
Why does the need for liability insurance arise?
A. Meet societal obligations and norms
B. Uphold ethical feelings of responsibility
C. Fulfill legal obligations to others
D. Reduce personal risk to oneself
Question #3
Which statement describes a primary function of a telephone adjuster?
A. Authorize repairs suggested by the staff adjuster
B. Act as a liaison between the intermediary and the insurer
C. Process a large volume of claims
D. Process all paperwork for independent examiners
Question #4
How are staff adjusters and independent adjusters similar?
A. Neither has any limitation on their authority to settle claims
B. Both work on behalf of, and are paid by, the insurer
C. Both are licensed only in Quebec and New Brunswick
D. Neither is allowed to perform an investigation
Question #5
Which statement reflects the concept that the premium for each risk should be commensurate with that risk?
A. Proper settlement of losses should be paid out of the pool of funds
B. Risks can happen to anyone, so each individual should purchase insurance
C. One or more persons should provide protection to another person against loss
D. Risks more likely to have losses should pay higher premiums
Solutions:
| Question #1 Answer: B,C | Question #2 Answer: C | Question #3 Answer: C | Question #4 Answer: B | Question #5 Answer: D |
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