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IIC C11 Exam Syllabus Topics:

IIC Principles and Practice of Insurance Sample Questions:

1. Jack is a first-time homeowner. How can he mitigate his risk?

A) Purchase many different kinds of goods
B) Purchase insurance
C) Increase his volume of risk
D) Decrease his volume of risk

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

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

3. Which type of policy must be signed by a member of each participating insurer?

A) Prescription
B) All-inclusive
C) Subscription
D) Subrogation

4. Which type of insurance company has the same capital structure as any other capital enterprise?

A) Captive company
B) Stock company
C) Factory mutual company
D) Co-operative company

5. What does the term "subject of insurance" refer to?

A) The type of wording applicable to the policy
B) The company providing the coverage
C) The perils associated with the risk
D) The thing being insured

Solutions: