IIC C11 : Principles and Practice of Insurance

  • Exam Code: C11
  • Exam Name: Principles and Practice of Insurance
  • Updated: Oct 12, 2026
  • Q & A: 103 Questions and Answers

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About IIC C11 Exam

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IIC C11 Exam Syllabus Topics:

SectionObjectives
Topic 1: Insurance Practice- Underwriting and Pricing
  • 1. Premium calculation principles
    • 2. Risk assessment methods
      - Claims Handling
      • 1. Claims process stages
        • 2. Fraud detection and prevention
          Topic 2: Legal Principles of Insurance- Insurable Interest and Indemnity
          • 1. Principle of indemnity and application
            • 2. Insurable interest requirements
              - Contract Law Basics
              • 1. Formation of insurance contracts
                • 2. Utmost good faith principle
                  Topic 3: Insurance Principles- Fundamentals of Insurance
                  • 1. Nature and purpose of insurance
                    • 2. Risk concepts and risk pooling
                      - Insurance Market Structure
                      • 1. Regulatory environment overview
                        • 2. Roles of insurers, brokers, and intermediaries

                          C11 Study Material Questions

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                          Chartered Insurance Institute Exam Registration: register for C11

                          No formal prerequisites required; recommended for entry-level insurance learners.

                          • Legal Principles of Insurance ()
                          • Insurance Principles ()
                          • Insurance Practice ()

                          Spend more time on the topics that carry the most weight.

                          IIC Principles and Practice of Insurance Sample Questions:

                          Question #1

                          Orianna is an insurance professional who acts on behalf of the insurerandthe insured. She owns her client list and is paid commission once policies are arranged. What is her profession?

                          • A. Independent adjuster
                          • B. Broker
                          • C. Exclusive agent
                          • D. Underwriter
                          Reveal Solution  Discussion  0

                          Correct Answer: B  🗳️

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                          Question #2

                          What does the acronymPIPEDAstand for?

                          • A. Private Information Protected from Email Decoding Attacks
                          • B. Personal Insurance Products Electronically Delivered Act
                          • C. Personal Information Protection and Electronic Documents Act
                          • D. Protect Insurance Products by Electronic Decoding Algorithms
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

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                          Question #3

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

                          • A. Mortgage clause
                          • B. Additional Interest clause
                          • C. Bailee clause
                          • D. Lienholder clause
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

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                          Question #4

                          What best describes a direct loss?

                          • A. Damage to property by direct action of a peril insured against
                          • B. A loss not covered on the policy but covered by an endorsement
                          • C. Damage to property caused directly by the insured
                          • D. A loss covered by an insured peril, but not caused directly by the peril
                          Reveal Solution  Discussion  0

                          Correct Answer: A  🗳️

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                          Question #5

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

                          • A. Original Insurance Company provided quotes on all broker applications
                          • B. Original Insurance Company did not set service standards
                          • C. TOY Insurance Brokers did not keep premiums in a trust account and used them to pay expenses
                          • D. TOY Insurance Brokers did not remit commissions owed to the insurer
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

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