IIC : C11 Questions & Answers

Last Updated: Sep 11, 2026

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IIC C11 Practice Q&A's

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IIC C11 Exam Syllabus Topics:

SectionObjectives
Insurance Principles- Insurance Market Structure
  • 1. Roles of insurers, brokers, and intermediaries
    • 2. Regulatory environment overview
      - Fundamentals of Insurance
      • 1. Nature and purpose of insurance
        • 2. Risk concepts and risk pooling
          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
                  Insurance Practice- Underwriting and Pricing
                  • 1. Premium calculation principles
                    • 2. Risk assessment methods
                      - Claims Handling
                      • 1. Fraud detection and prevention
                        • 2. Claims process stages

                          IIC Principles and Practice of Insurance Sample Questions:

                          Question #1

                          How would a moving and storage company benefit from purchasing insurance to cover customers' goods while in transit?

                          • A. More capital for business ventures
                          • B. Provides a feeling of security
                          • C. Greater acquisition potential
                          • D. Opportunity for more subscription policies
                          Answer: C

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                          Question #2

                          An insurer's agency or production department is the equivalent of which department in other businesses?

                          • A. Sales and marketing
                          • B. Information technology and business services
                          • C. Finance and production
                          • D. Administration and human resources
                          Answer: A

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                          Question #3

                          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. Antonio and Brett
                          • B. Brett
                          • C. Sandra
                          • D. Celina and Antonio
                          Answer: C

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                          Question #4

                          Which role is directly employed by the Canadian property and casualty insurance industry?

                          • A. Health professional
                          • B. Lawyer
                          • C. Travel agent
                          • D. Mechanic
                          Answer: B

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                          Question #5

                          Which is a pre-loss objective of risk management for an organization?

                          • A. External obligations
                          • B. Sustained growth
                          • C. Operational continuity
                          • D. Business development
                          Answer: C

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