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[General] Valid C11 Exam Tutorial | C11 Valid Test Format

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【General】 Valid C11 Exam Tutorial | C11 Valid Test Format

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IIC Principles and Practice of Insurance Sample Questions (Q27-Q32):NEW QUESTION # 27
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 $50,000; Insurer Y pays $50,000
  • D. Insurer X pays $100,000; Insurer Y pays $0
Answer: A
Explanation:
When more than one insurer covers the same property under policies with identical terms, the loss is often shared according to the proportion of insurance each company provides. This is commonly referred to as contribution "pro rata by limits." First, determine the total amount of insurance:
Insurer X: $400,000
Insurer Y: $100,000
Total insurance: $500,000
Next, determine each insurer's percentage of the total:
Insurer X: 400,000 ÷ 500,000 = 80%
Insurer Y: 100,000 ÷ 500,000 = 20%
The total loss is $100,000, so each insurer pays its proportion of the loss:
Insurer X: 80% × $100,000 = $80,000
Insurer Y: 20% × $100,000 = $20,000
There is no deductible to adjust these amounts. Thus, Insurer X pays $80,000 and Insurer Y pays $20,000, making Option C correct.

NEW QUESTION # 28
John convinces Louise to sign a contract for room and board at his house in Montreal in exchange for $1,000.
When Louise prepares to move in, John informs her that she will be staying in a room at a run-down hotel he owns. Which cause of nullity is Louise MOST LIKELY to employ to cause the contract to be of no effect?
  • A. Error
  • B. Lesion
  • C. Fraud
  • D. Violence
Answer: C
Explanation:
Under contract law principles referenced inPrinciples and Practice of Insurance, a contract is only valid when both parties givefree, informed, and genuine consent. Fraud occurs when one party intentionally misleads another through deception, false representation, or concealment to induce consent. In this scenario, John intentionally misrepresented the nature of the accommodation-promising his private residence while intending to place Louise in a different, inferior property.
Because Louise agreed based on amaterial misrepresentation, the contract is voidable due tofraud, meaning she can invoke nullity and have the contract deemed without effect. Fraud differs from error in that the misinformation wasdeliberatelycreated by John. It is not lesion (which relates to unfair disadvantage in value) nor violence (which involves physical or psychological coercion). Therefore, the correct answer isB. Fraud.

NEW QUESTION # 29
A company suffers an $80,000 theft loss from its commercial property.
Insurer A covers the property for $300,000.
Insurer B covers the same property for $100,000.
Assuming both policies have identical terms, how is the $80,000 loss shared?
  • A. Insurer A pays $60,000; Insurer B pays $20,000
  • B. Insurer A pays $80,000; Insurer B pays $0
  • C. Insurer A pays $0; Insurer B pays $60,000
  • D. Insurer A pays $40,000; Insurer B pays $40,000
Answer: A
Explanation:
When two insurers cover the same property, theprinciple of contributionapplies. Each insurer pays a proportion of the loss based on its share of the total insurance in force. Here:
Total insurance = $300,000 + $100,000 = $400,000
Insurer A's share = 300,000 / 400,000 =75%
Insurer B's share = 100,000 / 400,000 =25%
Loss = $80,000
Insurer A pays 75% × 80,000 =$60,000
Insurer B pays 25% × 80,000 =$20,000
Thus,Cis correct.

NEW QUESTION # 30
Which statement describes a primary function of a telephone adjuster?
  • A. Process a large volume of claims
  • B. Process all paperwork for independent examiners
  • C. Act as a liaison between the intermediary and the insurer
  • D. Authorize repairs suggested by the staff adjuster
Answer: A
Explanation:
A telephone adjuster (often called an inside adjuster) handles claims that can be resolved quickly without requiring in-person investigation. Their main role is to efficiently process a high volume of straightforward claims, such as small auto physical-damage losses, minor property losses, and simple theft claims.
Because these claims do not require field investigations, telephone adjusters focus on gathering information by phone, confirming coverage, arranging payments, and closing files promptly.
Option B is incorrect-telephone adjusters do not take instructions from staff adjusters; they operate independently within their own authority levels.
Option C is incorrect-they do not process paperwork for independent adjusters.
Option D is incorrect-they are not intermediaries; they serve the insurer directly.
The correct function is A: processing a large volume of claims.

NEW QUESTION # 31
If thenet premiumis $4,000 and thebroker's commissionis 20%, what is thepolicy premium?
  • A. $3,200
  • B. $5,000
  • C. $4,500
  • D. $6,500
Answer: B
Explanation:
Anet premiumis the amount remainingafter commission is deducted. Therefore, the policy premium must behigherthan the net premium, because the insurer must pay the broker their commission out of the gross premium.
Formula:
Net Premium=Policy Premium×(1#Commission Rate)        ext{Net Premium} =         ext{Policy Premium}         imes (1
-         ext{Commission Rate})Net Premium=Policy Premium×(1#Commission Rate)4,000=P×0.804,000 = P
        imes 0.804,000=P×0.80P=4,0000.80=5,000P = rac{4,000}{0.80} = 5,000P=0.804,000=5,000 Thus, the policyholder must be charged$5,000, so that:
$1,000 (20%) goes to the broker, and
$4,000 remains as the net premium for the insurer.
Correct answer:C: $5,000.

NEW QUESTION # 32
......
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