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IIC C11 exam : Principles and Practice of Insurance

C11 Exam Simulator
  • Exam Code: C11
  • Exam Name: Principles and Practice of Insurance
  • Updated: Oct 06, 2026
  • Q & A: 103 Questions and Answers
  • IIC C11 Q&A - in .pdf

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IIC C11 exam simulator

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IIC C11 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Property Insurance15-20%- Policy Conditions and Exclusions
- Property Coverage Forms
- Valuation and Coinsurance
Topic 2: Insurance Industry Overview10-15%- Claims Handling
- Regulation and Legislation
- Insurance Market Structure
Topic 3: Risk and Insurance15-20%- Nature of Risk
- Risk Management Process
- Risk Identification and Measurement
- Insurable Risk
Topic 4: Automobile Insurance15-20%- Commercial Automobile Coverage
- Personal Automobile Coverage
- Mandatory Coverage Requirements
Topic 5: Liability Insurance15-20%- Commercial General Liability (CGL)
- Professional Liability
- General Liability Concepts
Topic 6: Insurance Operations and Contracts20-25%- Underwriting Process
- Policy Structure and Interpretation
- Fundamental Principles of Insurance
- Insurance Contract Basics

IIC Principles and Practice of Insurance Sample Questions:

Question #1

Which statement reflects the concept that the premium for each risk should be commensurate with that risk?

  • A. Risks more likely to have losses should pay higher premiums
  • B. Risks can happen to anyone, so each individual should purchase insurance
  • C. Proper settlement of losses should be paid out of the pool of funds
  • D. One or more persons should provide protection to another person against loss
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #2

What is a cover note?

  • A. Purchase agreement between the agent or broker and the insurer
  • B. An amendment added to a written document that alters its provisions
  • C. Document issued by intermediaries to inform the insured that coverage has been arranged
  • D. File notes confirming insurance discussions between the intermediary and the insured
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

Whose signatures wouldusuallyappear on therisk's policy?

  • A. Alan and Cathy
  • B. Denis and Simone
  • C. Simone and Alan
  • D. Denis and Cathy
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #4

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. Brett
  • B. Celina and Antonio
  • C. Antonio and Brett
  • D. Sandra
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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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 building of resilient communities through cost-effective techniques that enable structures to withstand severe weather or earthquakes
  • C. The understanding of weather patterns to aid all citizens in predicting weather
  • D. The pooling of funds by all members of society to deal with the predicted cost of a large-scale natural disaster
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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