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IIC Principles and Practice of Insurance : C11

C11

Exam Code: C11

Exam Name: Principles and Practice of Insurance

Updated: Aug 26, 2026

Q & A: 103 Questions and Answers

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IIC C11 Exam Syllabus Topics:

SectionWeightObjectives
Property Insurance15-20%- Valuation and Coinsurance
- Property Coverage Forms
- Policy Conditions and Exclusions
Liability Insurance15-20%- Professional Liability
- Commercial General Liability (CGL)
- General Liability Concepts
Automobile Insurance15-20%- Commercial Automobile Coverage
- Mandatory Coverage Requirements
- Personal Automobile Coverage
Insurance Operations and Contracts20-25%- Fundamental Principles of Insurance
- Underwriting Process
- Policy Structure and Interpretation
- Insurance Contract Basics
Risk and Insurance15-20%- Insurable Risk
- Risk Management Process
- Nature of Risk
- Risk Identification and Measurement
Insurance Industry Overview10-15%- Insurance Market Structure
- Claims Handling
- Regulation and Legislation

IIC Principles and Practice of Insurance Sample Questions:

Question 1

A person applies for fire insurance on their house but fails to mention that in winter they leave the house unoccupied for two months while vacationing. What is this an example of?

A. Negligence
B. Discharge of contract
C. Breach of warranty
D. Non-disclosure


Question 2

If a dispute arises between the insurer and insured over a claim, which party is responsible for satisfying the courts that a concealment of material facts has occurred?

A. Insurer
B. Broker
C. Insured
D. Third party


Question 3

What is stated in the insuring agreements of a policy?

A. Signature clause
B. Premium
C. Description of the property covered
D. Lienholder


Question 4

Orianna is an insurance professional who acts on behalf of the insurerandthe insured. She owns her client list and is paid commission once policies are arranged. What is her profession?

A. Underwriter
B. Exclusive agent
C. Independent adjuster
D. Broker


Question 5

What does the Institute for Catastrophic Loss Reduction (ICLR) encourage?

A. The development of mandatory evacuation procedures in the event of any moderate weather changes
B. The understanding of weather patterns to aid all citizens in predicting weather
C. The building of resilient communities through cost-effective techniques that enable structures to withstand severe weather or earthquakes
D. The pooling of funds by all members of society to deal with the predicted cost of a large-scale natural disaster


Solutions:

Question 1
Answer: D
Question 2
Answer: A
Question 3
Answer: C
Question 4
Answer: D
Question 5
Answer: C

C11 Related Exams
C131 - Advanced Skills for the Insurance Broker and Agent
C130 - Essential Skills for the Insurance Broker and Agent
Related Certifications
RIBO Insurance Broker
Chartered Insurance Professional (CIP)
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