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C11 Practice Questions
Principles and Practice of Insurance
Last Update 2 days ago
Total Questions : 100
Dive into our fully updated and stable C11 practice test platform, featuring all the latest Chartered Insurance Professional (CIP) exam questions added this week. Our preparation tool is more than just a IIC study aid; it's a strategic advantage.
Our free Chartered Insurance Professional (CIP) practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about C11. Use this test to pinpoint which areas you need to focus your study on.
[Insurance Companies]
Ace Brokerage Inc., a liability insurer, has been in business for three years. It is suffering financial difficulties despite writing a significant amount of new business. What is the most likely reason?
Which type of clause grants additional protection to the entity that has a registered interest on real property?
[Regulatory Framework]
Maritime Insurance has met all requirements to be incorporated as an insurance company in Canada. Why would it prefer to incorporate under the Nova Scotia provincial statute rather than the federal statute?
[Insurance Categories and Functions]
Which risk could be insured bychattel coverage?
[Insurance Documents and Processes]
Which problem could arise with an oral binder?
[Claims]
Samuel is a broker who does NOT have claims-handling authority. He received a call from an insured at the scene of an auto accident. The insured was upset, and Samuel reassured her that everything would be fine because she had coverage. Later, the insurer denied the claim due to impaired driving. What should Samuel have done differently?
[Claims]
Mark was involved in an at-fault accident one year ago. As there was minimal vehicle damage and no apparent injuries, Mark settled with the third party and did NOT report the accident to his insurer. Today, Mark has been served a statement of claim alleging long-term injuries. Which action will Mark's insurer MOST LIKELY take, and why?
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?
[Insurance Companies / Reinsurance]
In a non-proportional (excess of loss) reinsurance contract, the reinsurer agrees to pay the portion of any loss thatexceeds $80,000, up to an additional$100,000.
How much would the primary insurer pay for an insured loss of$60,000?
[Underwriting and Rating: Setting Insurance Rates]
Which statement best describes unearned premium?
