Exam Name: Principles and Practice of Insurance
Certification Provider: IIC
Corresponding Certification: Chartered Insurance Professional (CIP)
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Instant Download IIC : C11 Questions & Answers as PDF & Test Engine
Updated: Oct 11, 2026
No. of Questions: 103 Questions & Answers with Testing Engine
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- Total Questions: 103
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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 |
| Passing Score: | 60% (120/200 points) |
| Certificate Validity Period: | Valid while CIP program requirements are met; no fixed expiry |
| Related Certifications: | C14 Automobile Insurance – Part 1 C13 Insurance Against Liability – Part 1 C12 Insurance on Property |
| Real Exam Qty: | 100 |
| Available Languages: | French, English |
| Exam Duration: | 120 minutes |
| Exam Price: | CAD 418 |
| Exam Format: | Multiple-choice questions, Scenario-based questions, Knowledge-based questions |
| Recommended Training: | C11 Official Course Materials |
| Exam Registration: | Official Registration |
| Sample Questions: | DOWNLOAD DEMO |
| 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:
| Section | Weight | Objectives |
|---|---|---|
| Insurance Industry Structure and Stakeholders | 15–20% | - Roles: underwriting, claims, reinsurance - Insurers, intermediaries, regulators - Legislation and regulation in Canada |
| Introduction to Insurance | 10–15% | - Basic concepts: risk, peril, hazard - Role of insurance in economy and society - Purpose and function of insurance |
| Legal Principles of Insurance | 20–25% | - Subrogation and contribution - Contract law fundamentals - Principle of indemnity - Insurable interest, utmost good faith |
| Risk Management and Application | 15–20% | - Application of principles to personal and commercial contexts - Risk identification, assessment, treatment - Ethics and professional conduct |
| Insurance Policy Structure and Provisions | 20–25% | - Policy components: declarations, insuring agreement, exclusions, conditions - Interpretation of policy wording - Endorsements and modifications |
C11 Exam FAQ — Convenience, Quality, Policy
The official IIC Principles and Practice of Insurance outline defines 5 domains. The leading three are Legal Principles of Insurance (20–25%), Insurance Industry Structure and Stakeholders (15–20%), and Introduction to Insurance (10–15%). The full list is in the topics section above, and Prep4away's 103 practice questions cover each one.
None; recommended as first course in CIP program Since requirements change over time, confirm the latest on the official IIC exam page before scheduling.
The IIC Principles and Practice of Insurance exam contains 100 to complete within 120 minutes. Timed simulation in the Prep4away Desktop Test Engine teaches that rhythm before exam day does.
IIC recommends these training resources for the IIC Principles and Practice of Insurance exam:
Follow the training with steady self-testing — the 103 practice questions from Prep4away help you apply theory and fill any gaps the training leaves.
Prep4away issues a full refund if you take the IIC Principles and Practice of Insurance exam within 60 days of purchase and do not pass. The policy does not apply if the exam is taken within 3 days of purchase, if the exam was never actually taken, or to free materials or expired orders, and the candidate name must match the payer name. Submit a scan of your enrollment slip and the official Score Report PDF within 2 days of the exam; claims are processed within 7 days. Alternatively, exchange for two free exam products of equal value and keep your original update service. Orders arrive by email within 1 minute — contact support if nothing arrives within 2 hours.
Three versions of the same study materials: a printable, expert-prepared PDF with free demo download and instant access; a Desktop Test Engine for Windows with customizable simulation and timed modes that works offline; and an Online Test Engine for any browser on Windows, Mac, Android, and iOS with test history and performance review — not limited to any equipment, and friendly even without a network. All 103 practice questions are identical across versions. Every purchase includes 365 days of free updates, a 50% renewal discount afterward, and unlimited computer installations.
The C11 exam is a IIC certification exam validating the IIC Principles and Practice of Insurance syllabus shown above. It belongs to these credential paths: C12 Insurance on Property, C13 Insurance Against Liability – Part 1, C14 Automobile Insurance – Part 1. Candidates in 2026 start with Prep4away's 103 practice questions, available as a printable PDF, a Windows Desktop Test Engine, and an Online Test Engine — three versions of the same materials.
The IIC Principles and Practice of Insurance exam requires 60% (120/200 points) to pass, and registration costs CAD 418. A failed attempt means paying the same fee again — a readiness check with the Prep4away engines before booking is the cheaper option.
Online proctored or in-person at authorized centres Register for the IIC Principles and Practice of Insurance exam through these official channels:
After booking, Prep4away delivers your practice questions within 1 minute — preparation starts the same day.
IIC Principles and Practice of Insurance Sample Questions:
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. $75,000
- C. $100,000
- D. $25,000
Correct Answer: D 🗳️
Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).
What is stated in the insuring agreements of a policy?
- A. Signature clause
- B. Description of the property covered
- C. Lienholder
- D. Premium
Correct Answer: B 🗳️
Insurer A and Insurer B cover the same building and the policies are NOT subject to contribution. The building sustains a loss of $450,000. How can the insured claim for their loss?
- A. Claim the full amount from Insurer A and have Insurer B pay the loss deductible
- B. Claim the full amount from insurer A
- C. Claim the full amount from Insurer B and request them to subrogate against Insurer A
- D. Claim 50% of the loss from each insurer
Correct Answer: B 🗳️
Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).
What is a disadvantage of loss retention through borrowing?
- A. It requires significant commitment from senior management
- B. It reduces the company's line of credit
- C. Special accounting is always required
- D. It is difficult even if the company has assets to cover the loan
Correct Answer: B 🗳️
Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).
Which factor could explain poorer performance of renewal clients as opposed to new business clients?
- A. An automated renewal process
- B. New business clients limit claims in order to keep premiums low
- C. Reinsurance only being available on renewal policies
- D. More strict underwriting criteria for renewal risks
Correct Answer: B 🗳️
Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).
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