IIC C11

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IIC C11 Exam Syllabus Topics:

IIC Principles and Practice of Insurance Sample Questions:

1. Who has authority from a company to manage that company's business within their territory, to appoint other agents, and to settle claims?

A) General agent
B) Operating agent
C) Analyst
D) Wholesaler

2. In a non-proportional (excess of loss) reinsurance contract, the reinsurer agrees to pay the portion of any loss thatexceeds $80,000, up to an additional$100,000.
How much would the primary insurer pay for an insured loss of$60,000?

A) $0
B) $60,000
C) $20,000
D) $36,000

3. Which risk could be insured bychattel coverage?

A) A mobile home belonging to a family
B) Trip cancellation for a honeymoon
C) A half-court shot contest at a basketball game
D) Errors and omissions for a lawyer's office

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

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

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

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

Solutions: