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IIC C11 Exam Syllabus Topics:

IIC Principles and Practice of Insurance Sample Questions:

1. Which insurance term is defined as providing compensation for losses or expenses that have been incurred?

A) Indemnify
B) Salvage
C) Pure captive
D) Utmost good faith

2. Which statement best explains the concept of utmost good faith?

A) Is a requirement of all legal contracts
B) Implies the ability to void an insurance policy
C) Is a lack of conduct that exceeds mere negligence
D) Requires a high standard of honesty

3. What does the acronymPIPEDAstand for?

A) Personal Insurance Products Electronically Delivered Act
B) Personal Information Protection and Electronic Documents Act
C) Private Information Protected from Email Decoding Attacks
D) Protect Insurance Products by Electronic Decoding Algorithms

4. Which is a pre-loss objective of risk management for an organization?

A) External obligations
B) Sustained growth
C) Business development
D) Operational continuity

5. John convinces Louise to sign a contract for room and board at his house in Montreal in exchange for $1,000.
When Louise prepares to move in, John informs her that she will be staying in a room at a run-down hotel he owns. Which cause of nullity is Louise MOST LIKELY to employ to cause the contract to be of no effect?

A) Error
B) Lesion
C) Violence
D) Fraud

Solutions: