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IIC C131 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Specialty Lines: Auto, Crime, and Surety Bonds | 10% | |
| Topic 2: Insuring Manufacturers & Distributors | 15% | |
| Topic 3: Risk Management Principles | 15% | - Selecting Risk Management Techniques - Developing Risk Management Plans - Analyzing Risk Exposures |
| Topic 4: Commercial Property Coverages | 15% | - Policy Wordings and Clauses - Business Interruption Insurance |
| Topic 5: Monitoring and Modifying Risk Plans | 5% | |
| Topic 6: Commercial Liability Coverages | 15% | - General Liability - Errors and Omissions |
| Topic 7: Introduction to Commercial Insurance | 10% | |
| Topic 8: Insuring Contractors & Construction Risks | 15% | - Contractors' Exposures - Builders Risk Insurance |
IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:
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?
Correct Answer: A 🗳️
Explanation: Only visible for PassCollection members. You can sign-up / login (it's free).
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
Correct Answer: A 🗳️
Explanation: Only visible for PassCollection members. You can sign-up / login (it's free).
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
Correct Answer: C 🗳️
Explanation: Only visible for PassCollection members. You can sign-up / login (it's free).
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
Correct Answer: C 🗳️
Explanation: Only visible for PassCollection members. You can sign-up / login (it's free).
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
Correct Answer: C 🗳️
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