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IIC C130 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Insurance Products and Markets | - Commercial and personal lines overview - Property and casualty insurance basics |
| Insurance Distribution Systems | - Agent vs broker roles and responsibilities - Distribution models (independent agency, brokerage, direct writers) |
| Insurance Fundamentals and Risk Concepts | - Insurance principles and contract basics - Nature of risk (pure vs speculative risk) |
| Legal and Regulatory Framework | - Ethical standards and professional conduct - Law of agency and fiduciary duty |
| Broker and Agent Practice Skills | - Policy placement and insurer interaction - Client communication and advisory skills |
IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
An underwriter receives a submission for a restaurant. The base rate is $0.80 per $100. Due to the client's loss history, the underwriter decides on a $0.15 loading. What premium would the underwriter charge for a building valuation of $200,000?
- A. $1,900
- B. $1,750
- C. $1,600
- D. $1,300
Correct Answer: A 🗳️
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In provinces with a graduated licensing system for intermediaries, what must the licensee achieve in order to write the next level of examination?
- A. Regulator sponsorship
- B. Election to the council
- C. Work experience
- D. Adequate remuneration
Correct Answer: C 🗳️
Explanation: Only visible for PassLeader members. You can sign-up / login (it's free).
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 insurer that issued the tenant's legal liability policy
- D. The dwelling's owner who is responsible for the tenant's actions
Correct Answer: A 🗳️
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How many years of driving experience are newly licensed drivers generally credited for if they have completed an approved driver training course?
- A. Four or five years
- B. One or two years
- C. Two or three years
- D. Three or four years
Correct Answer: C 🗳️
Explanation: Only visible for PassLeader members. You can sign-up / login (it's free).
Which occupancy would be most attractive to an insurer reviewing a property's exposure?
- A. Clothing store
- B. Auto body shop
- C. Scrap yard
- D. Restaurant
Correct Answer: A 🗳️
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