Pass the actual test with the help of C11 study guide
Last Updated: Jul 01, 2026
No. of Questions: 103 Questions & Answers with Testing Engine
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1. Which principle of insurance requires that an insured must have a financial interest in the subject matter of insurance at the time of loss?
A) Insurable interest
B) Indemnity
C) Subrogation
D) Utmost good faith
2. MacMan Inc. employs several salespersons who travel throughout Canada with samples of its products.
Which type of coverage does MacMan Inc. require to protect its samples while in the salespersons' possession?
A) Aviation Insurance
B) Personal Property Floater
C) Commercial Property Floater
D) Accident Insurance
3. Which peril of operating a business is insurable?
A) Mismanagement
B) Cybersecurity
C) Under-capitalization
D) Product obsolescence
4. Which statement best describes a valued contract?
A) The policy pays the full cost of replacing items even if this amount exceeds policy limits
B) Settlements involve periodic payments due to the nature of valuation
C) Settlements are based on a predetermined amount agreed upon at contract formation
D) The insured can reject settlement offers and force a higher payout
5. Which financial outcome would be expected when engaging in a speculative risk?
A) No possibility of gain
B) Possibility of gain only
C) No possibility of loss
D) Possibility of either gain or loss
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: D |
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