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IIC C11 Exam Syllabus Topics:

IIC Principles and Practice of Insurance Sample Questions:

1. Which legal term describes the time in which a claim may be brought by the policyholder?

A) Prescription
B) Release
C) Non-waiver
D) Waiver

2. Which type of clause grants additional protection to the entity that has a registered interest on real property?

A) Bailee clause
B) Lienholder clause
C) Additional Interest clause
D) Mortgage clause

3. Which role is directly employed by the Canadian property and casualty insurance industry?

A) Lawyer
B) Health professional
C) Mechanic
D) Travel agent

4. Which type of policy must be signed by a member of each participating insurer?

A) Prescription
B) Subscription
C) All-inclusive
D) Subrogation

5. Original Insurance Company terminated its broker agreement with TOY Insurance Brokers. Which situation likely resulted in this termination?

A) Original Insurance Company did not set service standards
B) Original Insurance Company provided quotes on all broker applications
C) TOY Insurance Brokers did not remit commissions owed to the insurer
D) TOY Insurance Brokers did not keep premiums in a trust account and used them to pay expenses

Solutions: