IIC C11 Dumps : Principles and Practice of Insurance

C11 real exams

Exam Code: C11

Exam Name: Principles and Practice of Insurance

Updated: Sep 18, 2026

Q & A: 103 Questions and Answers

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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: Insurance Principles- Insurance Market Structure
          • 1. Roles of insurers, brokers, and intermediaries
            • 2. Regulatory environment overview
              - Fundamentals of Insurance
              • 1. Risk concepts and risk pooling
                • 2. Nature and purpose of insurance
                  Topic 3: Legal Principles of Insurance- Contract Law Basics
                  • 1. Formation of insurance contracts
                    • 2. Utmost good faith principle
                      - Insurable Interest and Indemnity
                      • 1. Insurable interest requirements
                        • 2. Principle of indemnity and application

                          IIC Principles and Practice of Insurance Sample Questions:

                          Question #1

                          Which insurance industry impact is an example of a surety?

                          • A. A doctor providing malpractice-covered services
                          • B. A bank issuing a mortgage on an insured building
                          • C. A manufacturer accepting shipping risks that are insured
                          • D. A developer advancing funds to a building contractor for a guaranteed project
                          Reveal Solution  Discussion  0

                          Correct Answer: D  🗳️

                          Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                          Question #2

                          Dominika's house sustains a fire resulting in a $500,000 total loss to the house and contents. Some pieces of furniture are salvageable and valued at $4,000 by the insurer. Dominika chooses to keep these items for her next home. Dominika's policy has a guaranteed replacement cost clause with a limit of $500,000 and a deductible of $1,000. What settlement amount will Dominika recover from the loss?

                          • A. $499,000
                          • B. $500,000
                          • C. $495,000
                          • D. $496,000
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

                          Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                          Question #3

                          Whose signatures wouldusuallyappear on therisk's policy?

                          • A. Denis and Simone
                          • B. Alan and Cathy
                          • C. Denis and Cathy
                          • D. Simone and Alan
                          Reveal Solution  Discussion  0

                          Correct Answer: B  🗳️

                          Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                          Question #4

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

                          Correct Answer: B  🗳️

                          Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

                          Question #5

                          Kamal's home has an actual cash value (ACV) of $380,000 and is insured for $400,000. The house suffers
                          $180,000 damage. Which amount indemnifies Kamal?

                          • A. $380,000
                          • B. $200,000
                          • C. $180,000
                          • D. $400,000
                          Reveal Solution  Discussion  0

                          Correct Answer: C  🗳️

                          Explanation: Only visible for TrainingDumps members. You can sign-up / login (it's free).

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