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Exam Code: C11
Exam Name: Principles and Practice of Insurance
Updated: Jul 04, 2026
Q & A: 103 Questions and Answers
C11 Free Demo download
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1. Ivana is in an auto accident. The agreed market value of her vehicle is$17,000.
Her policy deductible is$1,500.
A wrecking company offers$3,000for the salvage.
Ivana chooses tokeep the salvage.
What amount will Ivana receive?
A) $15,500
B) $14,000
C) $12,500
D) $17,000
2. What does the term "subject of insurance" refer to?
A) The type of wording applicable to the policy
B) The company providing the coverage
C) The thing being insured
D) The perils associated with the risk
3. What should an insurer do if it wishes to have additional terms incorporated in an interim cover?
A) Avoid releasing an interim cover prior to policy inception
B) Verbally declare its intent to the intermediary
C) Set the terms down in writing
D) Rely on Statutory Conditions / General Conditions
4. Which is NOT one of the three types of knowledge an underwriter requires to be successful in their role?
A) Industry knowledge
B) Insurance product knowledge
C) Prescription knowledge
D) Claims knowledge
5. Which risk could be insured bychattel coverage?
A) A mobile home belonging to a family
B) Trip cancellation for a honeymoon
C) Errors and omissions for a lawyer's office
D) A half-court shot contest at a basketball game
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: A |
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