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| Section | Weight | Objectives |
|---|---|---|
| Risk Management and Application | 15–20% | - Risk identification, assessment, treatment - Application of principles to personal and commercial contexts - Ethics and professional conduct |
| Legal Principles of Insurance | 20–25% | - Subrogation and contribution - Contract law fundamentals - Principle of indemnity - Insurable interest, utmost good faith |
| Introduction to Insurance | 10–15% | - Purpose and function of insurance - Basic concepts: risk, peril, hazard - Role of insurance in economy and society |
| Insurance Policy Structure and Provisions | 20–25% | - Endorsements and modifications - Interpretation of policy wording - Policy components: declarations, insuring agreement, exclusions, conditions |
| Insurance Industry Structure and Stakeholders | 15–20% | - Insurers, intermediaries, regulators - Roles: underwriting, claims, reinsurance - Legislation and regulation in Canada |
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?
Correct Answer: C 🗳️
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Which clause paysreplacement costeven if the lossexceeds the amount of insuranceon the dwelling?
Correct Answer: A,B,D 🗳️
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A large commercial brokerage is approached by a new client who owns a spacecraft and wants liability insurance. What solution should the brokerage recommend?
Correct Answer: A 🗳️
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Rashida claims she told her broker about the swimming pool when binding coverage. The adjuster disputes coverage because the insurer was not informed. What should have been done to prevent this dispute?
Correct Answer: C 🗳️
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What are the four requirements of a binding contract under the Civil Code of Quebec?
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