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Following are some reference material for actual IIC C11 exam test
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Introduction to Insurance | 10–15% | - Purpose and function of insurance - Basic concepts: risk, peril, hazard - Role of insurance in economy and society |
| Topic 2: Risk Management and Application | 15–20% | - Risk identification, assessment, treatment - Ethics and professional conduct - Application of principles to personal and commercial contexts |
| Topic 3: Legal Principles of Insurance | 20–25% | - Contract law fundamentals - Insurable interest, utmost good faith - Subrogation and contribution - Principle of indemnity |
| Topic 4: Insurance Policy Structure and Provisions | 20–25% | - Endorsements and modifications - Interpretation of policy wording - Policy components: declarations, insuring agreement, exclusions, conditions |
| Topic 5: Insurance Industry Structure and Stakeholders | 15–20% | - Roles: underwriting, claims, reinsurance - Legislation and regulation in Canada - Insurers, intermediaries, regulators |
What does the acronymPIPEDAstand for?
Correct Answer: A 🗳️
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How would a moving and storage company benefit from purchasing insurance to cover customers' goods while in transit?
Correct Answer: D 🗳️
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What does the term "subject of insurance" refer to?
Correct Answer: D 🗳️
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What is binding authority?
Correct Answer: D 🗳️
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Which factor could explain poorer performance of renewal clients as opposed to new business clients?
Correct Answer: C 🗳️
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