Free IIC C11 Exam Dumps Questions & Answers

Why does the need for liability insurance arise?

• A.  Fulfill legal obligations to others
• B.  Uphold ethical feelings of responsibility
• C.  Reduce personal risk to oneself
• D.  Meet societal obligations and norms

What is the Canadian Insurance Claims Managers Association (CICMA) responsible for?

• A.  Promoting a high standard of ethics in the handling of claims
• B.  Analyzing the damageability of vehicles and property
• C.  Assessing automobile personal injury claims
• D.  Monitoring claims to detect fraudulent valuations

Which factor could explain poorer performance of renewal clients as opposed to new business clients?

• A.  Reinsurance only being available on renewal policies
• B.  More strict underwriting criteria for renewal risks
• C.  An automated renewal process
• D.  New business clients limit claims in order to keep premiums low

A company suffers a $100,000 property loss at its commercial location. If Insurer X and Insurer Y have policies subject to the same terms and conditions, and there is no deductible, what will each insurer pay based on the information below?

Insurer X insured amount: $400,000
Insurer Y insured amount: $100,000

• A.  Insurer X pays $80,000; Insurer Y pays $20,000
• B.  Insurer X pays $0; Insurer Y pays $100,000
• C.  Insurer X pays $100,000; Insurer Y pays $0
• D.  Insurer X pays $50,000; Insurer Y pays $50,000

Why would a policyholder use an intermediary?

• A.  They represent all insurers
• B.  They help to identify clients' insurance needs
• C.  They make reinsurance arrangements for clients
• D.  They have unlimited liability