Free IIC C11 Exam Dumps Questions & Answers

Why would a policyholder use an intermediary?

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

If one in every five houses suffers a $50,000 loss each year, and all houses have the same value, what would the pure premium be for each homeowner?

• A.  $5,000
• B.  $10,000
• C.  $2,500
• D.  $100,000

Which statement best explains the concept of utmost good faith?

• A.  Is a requirement of all legal contracts
• B.  Implies the ability to void an insurance policy
• C.  Requires a high standard of honesty
• D.  Is a lack of conduct that exceeds mere negligence

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

• A.  Treaty
• B.  Standard
• C.  Manuscript
• D.  Chattel

A large commercial brokerage is approached by a new client who owns a spacecraft and wants liability insurance. What solution should the brokerage recommend?

• A.  Health and life insurer
• B.  Government insurance company
• C.  Lloyd's Insurance Market
• D.  Specialized captive insurer