IIC C131 : Advanced Skills for the Insurance Broker and Agent

C131 pass collection

Exam Code: C131

Exam Name: Advanced Skills for the Insurance Broker and Agent

Updated: Oct 03, 2026

Q & A: 79 Questions and Answers

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IIC C131 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Specialty Lines: Auto, Crime, and Surety Bonds10%
Topic 2: Insuring Manufacturers & Distributors15%
Topic 3: Risk Management Principles15%- Selecting Risk Management Techniques
- Developing Risk Management Plans
- Analyzing Risk Exposures
Topic 4: Commercial Property Coverages15%- Policy Wordings and Clauses
- Business Interruption Insurance
Topic 5: Monitoring and Modifying Risk Plans5%
Topic 6: Commercial Liability Coverages15%- General Liability
- Errors and Omissions
Topic 7: Introduction to Commercial Insurance10%
Topic 8: Insuring Contractors & Construction Risks15%- Contractors' Exposures
- Builders Risk Insurance

IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:

Question #1

A broker is preparing to meet with a prospective client, Queen Ice Cream, who manufactures and distributes ice cream to five different provinces. What can the broker ask to ensure a smooth transition for the client?

  • A. Do all existing policies expire at the same time?
  • B. How many flavours of ice cream does the client sell?
  • C. How long has the client been in business?
  • D. How many competitors are in the market?
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #2

What does the permissions clause in a building insurance policy allow the insured to do?

  • A. Proceed with additions, alterations, or repairs, without having to inform the insurer in advance
  • B. Use the property for purposes other than those stated on the policy
  • C. Move undamaged property to a secure site to prevent further damage after a loss
  • D. Clean up debris from a loss prior to advising the insurer
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #3

Graham works at a brokerage where responsibilities are divided among the staff. His daily work consists of analyzing quotations and creating client proposals. What is his role?

  • A. Underwriter
  • B. Adjuster
  • C. Marketer
  • D. Producer
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

How does a self-insured retention (SIR) differ from a deductible?

  • A. Does not affect the policy limit
  • B. Is a method of insuring risk
  • C. Applies to losses below a specific amount
  • D. Does not encourage loss prevention measures
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

When a broker is focusing on a manufacturing facility's housekeeping regimen and safeguards for a prospect, what is he primarily trying to establish?

  • A. Whether the prospect is profitable
  • B. How many expenses the facility has
  • C. Whether the prospect is a morale hazard
  • D. How large the facility is
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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