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| Section | Weight | Objectives |
|---|---|---|
| Legal Principles of Insurance | 20–25% | - Contract law fundamentals - Principle of indemnity - Insurable interest, utmost good faith - Subrogation and contribution |
| Introduction to Insurance | 10–15% | - Basic concepts: risk, peril, hazard - Role of insurance in economy and society - Purpose and function of insurance |
| Risk Management and Application | 15–20% | - Risk identification, assessment, treatment - Ethics and professional conduct - Application of principles to personal and commercial contexts |
| Insurance Policy Structure and Provisions | 20–25% | - Policy components: declarations, insuring agreement, exclusions, conditions - Interpretation of policy wording - Endorsements and modifications |
| Insurance Industry Structure and Stakeholders | 15–20% | - Roles: underwriting, claims, reinsurance - Insurers, intermediaries, regulators - Legislation and regulation in Canada |
Why does the need for liability insurance arise?
Correct Answer: B 🗳️
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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?
Correct Answer: B 🗳️
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What does the term "subject of insurance" refer to?
Correct Answer: D 🗳️
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What is the Canadian Insurance Claims Managers Association (CICMA) responsible for?
Correct Answer: D 🗳️
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Which action reduces a hazard?
Correct Answer: B 🗳️
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