IIC Principles and Practice of Insurance : C11 Exam

  • 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
Legal Principles of Insurance20–25%- Contract law fundamentals
- Principle of indemnity
- Insurable interest, utmost good faith
- Subrogation and contribution
Introduction to Insurance10–15%- Basic concepts: risk, peril, hazard
- Role of insurance in economy and society
- Purpose and function of insurance
Risk Management and Application15–20%- Risk identification, assessment, treatment
- Ethics and professional conduct
- Application of principles to personal and commercial contexts
Insurance Policy Structure and Provisions20–25%- Policy components: declarations, insuring agreement, exclusions, conditions
- Interpretation of policy wording
- Endorsements and modifications
Insurance Industry Structure and Stakeholders15–20%- Roles: underwriting, claims, reinsurance
- Insurers, intermediaries, regulators
- Legislation and regulation in Canada

IIC Principles and Practice of Insurance Sample Questions:

Question #1

Why does the need for liability insurance arise?

  • A. Reduce personal risk to oneself
  • B. Fulfill legal obligations to others
  • C. Uphold ethical feelings of responsibility
  • D. Meet societal obligations and norms
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

Patrice works as a broker meeting a new client. He is building rapport by performing similar actions to those of his client. Which form of in-person communication is he engaging in?

  • A. Copycatting
  • B. Mirroring
  • C. Open listening
  • D. Transparency
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

What does the term "subject of insurance" refer to?

  • A. The perils associated with the risk
  • B. The type of wording applicable to the policy
  • C. The company providing the coverage
  • D. The thing being insured
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

What is the Canadian Insurance Claims Managers Association (CICMA) responsible for?

  • A. Analyzing the damageability of vehicles and property
  • B. Monitoring claims to detect fraudulent valuations
  • C. Assessing automobile personal injury claims
  • D. Promoting a high standard of ethics in the handling of claims
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #5

Which action reduces a hazard?

  • A. Using high beams at night on a busy highway
  • B. Installing anti-slip floor tile in the hallway
  • C. Removing protective packaging around items being moved
  • D. Shutting off sprinkler systems during renovations
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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