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IIC C130 Exam Syllabus Topics:

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

1. Briefly describe an exclusive agency company as a distribution channel that delivers insurance products to consumers.

2. A client who wants coverage for a risk, independent from the risk a broker previously arranged coverage for, is usually required to submit which document?

A) Formal written application
B) Insured's authorization application
C) Broker of record letter
D) Statement of change request

3. During the renewal process, which tool keeps the broker on track and protects against lawsuits by requiring the insured's signature?

A) Checklist
B) Flowchart
C) Binder
D) Cover note

4. In which Canadian province is compulsory automobile insurance purchased from a private insurer?

A) Newfoundland and Labrador
B) Manitoba
C) British Columbia
D) Saskatchewan

5. A tenant's negligence causes a fire in the dwelling they rent. Typically, who is initially responsible for paying the damage?

A) The insurer that issued the homeowners policy
B) The tenant who negligently caused the fire
C) The dwelling's owner who is responsible for the tenant's actions
D) The insurer that issued the tenant's legal liability policy

Solutions: