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IIC C11 Exam Syllabus Topics:

IIC Principles and Practice of Insurance Sample Questions:

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

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

2. Why does the Office of the Superintendent of Financial Institutions (OSFI) control the types of investments insurers are allowed to make?

A) To maximize industry profits
B) To maximize insurers' returns on investments
C) To minimize industry indemnifications
D) To minimize insurers' investment loss exposures

3. What is generally thethirdstep in responding to a privacy breach?

A) Evaluate the risks associated with the breach
B) Investigate how the breach happened and prevent recurrence
C) Determine who needs to be notified and send notices
D) Contain the breach and assess ways to reduce harm

4. Which clause paysreplacement costeven if the lossexceeds the amount of insuranceon the dwelling?

A) Total replacement cost clause
B) Outright replacement clause
C) Pure restitution replacement clause
D) Guaranteed replacement cost clause

5. Whose signatures wouldusuallyappear on therisk's policy?

A) Alan and Cathy
B) Denis and Simone
C) Denis and Cathy
D) Simone and Alan

Solutions: