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IIC C131 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Liability Insurance | - Commercial and general liability concepts |
| Risk Management | - Monitoring and modifying risk management plans - Analyzing risk exposures - Selecting risk techniques - Insurance in a risk management plan |
| Property Insurance Coverages | - Property coverages fundamentals |
| Specialized Insurance Lines | - Automobile insurance - Contractors insurance - Manufacturers, distributors, freight forwarders - Builders risk insurance - Crime and bonds |
IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:
How can a broker BEST investigate a roofing contractor's operations to identify liability exposures?
- A. Read reviews on the contractor's website
- B. Speak with past customers of the contractor
- C. Ask the client what type of claims they are worried about
- D. Ask the client to detail what a typical project involves
Correct Answer: D 🗳️
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After examining an organization's financial statements and accounting records, a broker decides that they would like to take the company on as a client. What did the broker determine during their examination that helped make this decision?
- A. The organization is consistently profitable.
- B. The organization has a captive company.
- C. The organization is compliant with federal and provincial tax laws.
- D. The organization has paid policy premiums on time for the last seven years.
Correct Answer: A 🗳️
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A broker is reviewing a quote against a submission for a client. The client owns several older rental housing units. Underwriting has agreed to the submission, with a roof exclusion on the older buildings. The client is happy with the premium cost, but not the exclusion. What should the broker do next?
- A. Recommend the client find insurance elsewhere
- B. Counsel the client to take the offer as is, since they like the price
- C. Debate the underwriting department to prove the roofs are in good condition
- D. Suggest the client replace the roofs in exchange for removal of the exclusion
Correct Answer: D 🗳️
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In the absence of specific expertise in construction, which party will generally arrange a wrap-up liability policy?
- A. Party in control of the land
- B. Party in control of the project
- C. Subcontractor
- D. General contractor
Correct Answer: B 🗳️
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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. How many expenses the facility has
- B. Whether the prospect is profitable
- C. Whether the prospect is a morale hazard
- D. How large the facility is
Correct Answer: C 🗳️
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