Expert Answers to IIC Exam C11 Questions

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Chartered Insurance Professional (CIP) Principles and Practice of Insurance

Principles and Practice of Insurance

Last Update Mar 25, 2026
Total Questions : 100

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Questions 2

[Insurance Companies]

Which role is directly employed by the Canadian property and casualty insurance industry?

Options:

Lawyer

Mechanic

Travel agent

Health professional

Discussion 0

Questions 3

[Regulatory Framework]

Huronial Insurance Company submitted incorporation documents and received approval to sell personal-lines property and automobile policies. Which document will the Office of the Superintendent of Financial Institutions (OSFI) issue?

Options:

Insurer of record

Order of commencement

National insurance notice

Insurer establishment document

Discussion 0

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Questions 4

[Regulatory Framework]

What is needed to change older statutes that tend to be all-inclusive statements of law on a particular subject?

Options:

Act of legislature

Vote by the populace

Bill presented by a member of the congress

Approval from the Supreme Court of Canada

Discussion 0

Questions 5

[Insurance Companies / Broker Agreements]

Original Insurance Company terminated its broker agreement with TOY Insurance Brokers. Which situation likely resulted in this termination?