About IIC Principles and Practice of Insurance : C11 Exam Questions

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IIC Principles and Practice of Insurance Sample Questions:

1. What is stated in the insuring agreements of a policy?

A) Description of the property covered
B) Lienholder
C) Premium
D) Signature clause

2. When one reinsurer cedes part of its business to another reinsurer, what is the second reinsurer called?

A) Alternate Insurer
B) Cessionaire
C) Retrocessionaire
D) Primary Insurer

3. What type of company has the authority to bind coverage for a specific line of business as outlined by an insurer?

A) Syndicate mutual
B) Factory mutual
C) Cover holder
D) Reinsurer

4. What are the four requirements of a binding contract under the Civil Code of Quebec?

A) Capacity, cause, consent, and object of contract
B) Capacity, intention, co-operation, and lesion
C) Acceptance, cause, consent, and subject of contract
D) Acceptance, agreement, capacity, and offer

5. What type of wording is written on a custom basis for a specific situation?

A) Manuscript
B) Treaty
C) Chattel
D) Standard

Solutions: