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Principles and Practice of Insurance: C11 Exam
"Principles and Practice of Insurance", also known as C11 exam, is a IIC Certification. With the complete collection of questions and answers, BraindumpsPass has assembled to take you through 103 Q&As to your C11 Exam preparation. In the C11 exam resources, you will cover every field and category in Chartered Insurance Professional (CIP) Certification helping to ready you for your successful IIC Certification.
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- Exam Code: C11
- Exam Name: Principles and Practice of Insurance
- Certification Provider: IIC
- Corresponding Certification: Chartered Insurance Professional (CIP)
- Updated: Oct 12, 2026
- No. of Questions: 103 Questions & Answers with Testing Engine
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C11 Practice Q&A's
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IIC C11 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Legal Principles of Insurance | - Insurable Interest and Indemnity
|
| Insurance Practice | - Underwriting and Pricing
|
| Insurance Principles | - Fundamentals of Insurance
|
IIC Principles and Practice of Insurance Sample Questions:
Which role is directly employed by the Canadian property and casualty insurance industry?
- A. Lawyer
- B. Health professional
- C. Mechanic
- D. Travel agent
Correct Answer: A 🗳️
Explanation: Only visible for BraindumpsPass members. You can sign-up / login (it's free).
Insurer A and Insurer B cover the same building and the policies are NOT subject to contribution. The building sustains a loss of $450,000. How can the insured claim for their loss?
- A. Claim the full amount from insurer A
- B. Claim the full amount from Insurer B and request them to subrogate against Insurer A
- C. Claim the full amount from Insurer A and have Insurer B pay the loss deductible
- D. Claim 50% of the loss from each insurer
Correct Answer: A 🗳️
Explanation: Only visible for BraindumpsPass members. You can sign-up / login (it's free).
How would a moving and storage company benefit from purchasing insurance to cover customers' goods while in transit?
- A. Provides a feeling of security
- B. Greater acquisition potential
- C. More capital for business ventures
- D. Opportunity for more subscription policies
Correct Answer: B 🗳️
Explanation: Only visible for BraindumpsPass members. You can sign-up / login (it's free).
Which factor could explain poorer performance of renewal clients as opposed to new business clients?
- A. Reinsurance only being available on renewal policies
- B. New business clients limit claims in order to keep premiums low
- C. An automated renewal process
- D. More strict underwriting criteria for renewal risks
Correct Answer: B 🗳️
Explanation: Only visible for BraindumpsPass members. You can sign-up / login (it's free).
Which financial outcome would be expected when engaging in a speculative risk?
- A. Possibility of gain only
- B. No possibility of gain
- C. Possibility of either gain or loss
- D. No possibility of loss
Correct Answer: C 🗳️
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