Prepare with IIC : C11 exam braindumps as your best preparation materials

Updated: Aug 28, 2026

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IIC C11 Exam Overview:

Certification Vendor:Insurance Institute of Canada (IIC)
Exam Name:Principles and Practice of Insurance
Exam Number:C11
Exam Price:CAD 418
Related Certifications:C12 Insurance on Property
C13 Insurance Against Liability – Part 1
C14 Automobile Insurance – Part 1
Exam Format:Multiple-choice questions, Knowledge-based questions, Scenario-based questions
Real Exam Qty:100
Available Languages:English, French
Certificate Validity Period:Valid while CIP program requirements are met; no fixed expiry
Passing Score:60% (120/200 points)
Exam Duration:120 minutes
Recommended Training:C11 Official Course Materials
Exam Registration:Official Registration
Sample Questions:IIC C11 Sample Questions
Exam Way:Online proctored or in-person at authorized centres
Pre Condition:None; recommended as first course in CIP program
Official Syllabus URL:https://www.insuranceinstitute.ca/en/Courses/CIP/C11

IIC C11 Exam Syllabus Topics:

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

IIC Principles and Practice of Insurance Sample Questions:

1. What is the definition of subrogation?

A) The right of the insurer to take action against the insured in cases of fraud
B) The full payout an insurer makes before receiving the deductible
C) The process allowing an insurer that paid a claim to recover the amount from the legally responsible party
D) A promise by one party to release another from responsibility in exchange for money


2. The risk manager of an oil refinery is seeking ways to transfer the pollution risk of a new drilling method.
What is the best option?

A) Transfer the risk using a surety bond
B) Use a non-insurance loss-financing transfer agreement to insure the risk
C) Retain the risk
D) Add the risk to the company's standard commercial property and liability policies


3. 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) Mistake about assumptions
B) Innocent misrepresentation
C) Fraudulent misrepresentation
D) Undue influence


4. What is needed to change older statutes that tend to be all-inclusive statements of law on a particular subject?

A) Vote by the populace
B) Approval from the Supreme Court of Canada
C) Act of legislature
D) Bill presented by a member of the congress


5. An insurer writes a $60,000,000 risk for a premium of $30,000. Using pro rata reinsurance, it transfers 25% of the risk to the reinsurer. The risk then suffers a $100,000 loss. How much does the reinsurer contribute to this loss?

A) $60,000
B) $25,000
C) $75,000
D) $100,000


Solutions:

Question # 1
Answer: C
Question # 2
Answer: B
Question # 3
Answer: C
Question # 4
Answer: C
Question # 5
Answer: B

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