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[General] C11 Exam Experience - Best C11 Vce

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【General】 C11 Exam Experience - Best C11 Vce

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IIC Principles and Practice of Insurance Sample Questions (Q27-Q32):NEW QUESTION # 27
If a dispute arises between the insurer and insured over a claim, which party is responsible for satisfying the courts that a concealment of material facts has occurred?
  • A. Insured
  • B. Broker
  • C. Insurer
  • D. Third party
Answer: C
Explanation:
In insurance law, the insurer bears the burden of proving that the insured failed to disclose a material fact.
Material facts are those that would influence an underwriter's decision to accept, rate, or decline the risk. If an insurer alleges concealment or misrepresentation, the onus lies with the insurer to establish-through underwriting evidence, policy documentation, and testimony-that the fact was material and that nondisclosure affected the insurer's judgment.
Option A is incorrect because the broker is merely an intermediary. Option C is not correct because the insured's role is to answer questions truthfully, but the legal burden of proof in court rests with the insurer when making the accusation. Option D, a third party, has no role in proving concealment.
Therefore, the insurer must satisfy the court that a material concealment occurred, making B correct.

NEW QUESTION # 28
In a non-proportional (excess of loss) reinsurance contract, the reinsurer agrees to pay the portion of any loss thatexceeds $80,000, up to an additional$100,000.
How much would the primary insurer pay for an insured loss of$60,000?
  • A. $60,000
  • B. $36,000
  • C. $0
  • D. $20,000
Answer: A
Explanation:
Comprehensive Explanation (150-250 words):
In anexcess of loss (non-proportional) reinsurance contract, the reinsurer pays only when the lossexceeds the primary insurer's retention, known as thepriorityorattachment point. In this question, the priority is$80,000.
This means reinsurance doesnotrespond unless the loss exceeds $80,000.
Here, the actual loss is$60,000, which isbelowthe attachment point. Because the loss never reaches the
$80,000 threshold, the reinsurer owesnothing. Theentire lossremains the responsibility of the primary insurer.
The reinsurer's limit of $100,000 only becomes relevant if the loss exceeds $80,000, which is not the case here.
Therefore, the primary insurer pays100% of the $60,000 loss.
Correct answer.

NEW QUESTION # 29
What does the term "subject of insurance" refer to?
  • A. The thing being insured
  • B. The perils associated with the risk
  • C. The type of wording applicable to the policy
  • D. The company providing the coverage
Answer: A
Explanation:
Thesubject of insuranceis the property, person, or legal liability exposure that is being insured. This is the central object of the policy-what the insurer agrees to indemnify or protect. For example, a house in a homeowner's policy, a vehicle in an automobile policy, or a person's life in a life insurance contract.
Identifying the subject of insurance is essential because underwriting, policy wordings, rates, and coverage conditions all revolve around what is being insured.
Option B refers toperils, which are the causes of loss, not the insured item. Option C refers to the insurer itself and is unrelated to the definition. Option D refers to policy language but not the underlying exposure.
Thus, the correct meaning of the term isA: the thing being insured.

NEW QUESTION # 30
Which statement best describes a valued contract?
  • A. Settlements involve periodic payments due to the nature of valuation
  • B. The insured can reject settlement offers and force a higher payout
  • C. The policy pays the full cost of replacing items even if this amount exceeds policy limits
  • D. Settlements are based on a predetermined amount agreed upon at contract formation
Answer: D
Explanation:
Avalued contractis one in which the insurer and insured agreein advanceon the value of the insured item. If a total loss occurs, the insurer pays this predetermined amount, regardless of the item's actual cash value at the time of loss. This type of contract is common in areas such as fine arts, antiques, life insurance, or items whose value is difficult to measure after loss. The purpose is to eliminate disputes over valuation after a loss occurs.
Option A incorrectly describes replacement cost coverage.
Option B misstates contract rights; insureds cannot force payouts beyond contractual terms.
Option C describes structured settlements, not valued contracts.
Thus, the correct definition isD.

NEW QUESTION # 31
Whose signatures wouldusuallyappear on therisk's policy?

  • A. Simone and Alan
  • B. Denis and Simone
  • C. Alan and Cathy
  • D. Denis and Cathy
Answer: C
Explanation:
Apolicyis a legal contract issued by theinsurer, not the broker and not the policyholder. Therefore, the individuals who sign the policy are usually the insurer's authorized signing officers.
These are typically:
The CEO or President, and
Another authorized senior officer, such as the Administrative Manager or Underwriting Officer.
In the table:
Cathy(CEO) is an authorized signer.
Alan(Administrative Manager) is also an authorized insurer representative.
The insured (Simone) doesnotsign the actual policy document; their signature is not required for the policy to be valid. The broker (Denis) also doesnotsign policies; he facilitates placement but is not a party to the contract.
Thus, the correct pair isAlan and Cathy.

NEW QUESTION # 32
......
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