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IIC C11 Exam Syllabus Topics:

IIC Principles and Practice of Insurance Sample Questions:

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

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

2. Which type of clause grants additional protection to the entity that has a registered interest on real property?

A) Mortgage clause
B) Lienholder clause
C) Bailee clause
D) Additional Interest clause

3. Which risk could be insured bychattel coverage?

A) Trip cancellation for a honeymoon
B) A half-court shot contest at a basketball game
C) A mobile home belonging to a family
D) Errors and omissions for a lawyer's office

4. What is a post-loss objective of risk management for an organization?

A) Stable earnings
B) Peace of mind
C) Internal obligations
D) External development

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

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

Solutions: