Exam 6C Practice Question 2
Study guide: Exam 6C
Every Canadian P&C insurer files the same quarterly and annual P&C returns, whether its primary regulator is OSFI or a province. Comments on the returns' forms go to the Forms Committee of the Canadian Council of Insurance Regulators (CCIR).
Which description of the CCIR is most accurate?
- A) The industry association of P&C insurers that lobbies governments on insurers' behalf
- B) The federal regulator responsible for the solvency of every insurer licensed in Canada
- C) The fund that pays the claims of policyholders when a P&C insurer becomes insolvent
- D) The body that licenses insurance agents and brokers in every province and territory
- E) An association of federal, provincial and territorial regulators that works to harmonize regulation
Answer this question and see the worked solution
Concepts tested
- Canadian Council of Insurance Regulators
- Federal-Provincial Jurisdiction
- Insurance Regulation
- Canadian Annual Return