Principles and Practice of Insurance: C11 Exam

"Principles and Practice of Insurance", also known as C11 exam, is a IIC Certification. With the complete collection of questions and answers, PrepAwayPDF has assembled to take you through 103 Q&As to your C11 Exam preparation. In the C11 exam resources, you will cover every field and category in Chartered Insurance Professional (CIP) Certification helping to ready you for your successful IIC Certification.

Exam Code: C11
Exam Name: Principles and Practice of Insurance
Certification Provider: IIC
Corresponding Certification: Chartered Insurance Professional (CIP)
Updated: Oct 04, 2026
No. of Questions: 103 Questions & Answers with Testing Engine
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C11 Practice Q&A's

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IIC C11 Exam Syllabus Topics:

Section	Weight	Objectives
Topic 1: Legal Principles of Insurance	20–25%	- Principle of indemnity - Subrogation and contribution - Contract law fundamentals - Insurable interest, utmost good faith
Topic 2: Risk Management and Application	15–20%	- Application of principles to personal and commercial contexts - Risk identification, assessment, treatment - Ethics and professional conduct
Topic 3: Insurance Industry Structure and Stakeholders	15–20%	- Roles: underwriting, claims, reinsurance - Legislation and regulation in Canada - Insurers, intermediaries, regulators
Topic 4: Introduction to Insurance	10–15%	- Role of insurance in economy and society - Purpose and function of insurance - Basic concepts: risk, peril, hazard
Topic 5: Insurance Policy Structure and Provisions	20–25%	- Endorsements and modifications - Policy components: declarations, insuring agreement, exclusions, conditions - Interpretation of policy wording

IIC Principles and Practice of Insurance Sample Questions:

Question #1

Which legal term describes the time in which a claim may be brought by the policyholder?

A. Waiver
B. Release
C. Non-waiver
D. Prescription

Reveal Solution Discussion 0

Correct Answer: D 🗳️