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IIC C11 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Legal Principles of Insurance20–25%- Contract law fundamentals
- Insurable interest, utmost good faith
- Principle of indemnity
- Subrogation and contribution
Topic 2: Insurance Industry Structure and Stakeholders15–20%- Insurers, intermediaries, regulators
- Roles: underwriting, claims, reinsurance
- Legislation and regulation in Canada
Topic 3: Risk Management and Application15–20%- Ethics and professional conduct
- Risk identification, assessment, treatment
- Application of principles to personal and commercial contexts
Topic 4: Introduction to Insurance10–15%- Basic concepts: risk, peril, hazard
- Role of insurance in economy and society
- Purpose and function of insurance
Topic 5: Insurance Policy Structure and Provisions20–25%- Endorsements and modifications
- Interpretation of policy wording
- Policy components: declarations, insuring agreement, exclusions, conditions

IIC Principles and Practice of Insurance Sample Questions:

Karl recently purchased a house in Winnipeg. Prior to the purchase he asked if the house had termites. The house was infested, but the seller falsely stated there were none. After signing the contract, Karl discovered the infestation. Which element makes the purchase contract voidable?

  • A. Undue influence
  • B. Mistake about assumptions
  • C. Fraudulent misrepresentation
  • D. Innocent misrepresentation
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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If thenet premiumis $4,000 and thebroker's commissionis 20%, what is thepolicy premium?

  • A. $6,500
  • B. $3,200
  • C. $4,500
  • D. $5,000
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Robin is employed as a loss adjuster handling a large residential fire claim. Which is NOT one of their responsibilities?

  • A. Assess the claim with integrity
  • B. Explain relevant insurance coverage
  • C. Provide legal advice even if the claimant has legal counsel
  • D. Uphold the law with respect to its interpretation
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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What is his responsibility?

  • A. Advise the insured the policy covers the loss, if he confirms it
  • B. Verify the independent adjuster's report has no errors
  • C. Advise an underwriter the policy requires a premium increase at renewal
  • D. Record preliminary information and ask further details
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Correct Answer: D  🗳️

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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. Violence
  • B. Fraud
  • C. Lesion
  • D. Error
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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