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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Communication and Service Skills | 8% | - Client communication - Policy changes and endorsements - Record keeping |
| Topic 2: The Application Process | 10% | - Duty of disclosure - Underwriting considerations - Completing applications |
| Topic 3: Liability Insurance | 12% | - Legal liability concepts - Personal liability coverages - Commercial general liability |
| Topic 4: Property Insurance Wordings | 12% | - Coverages and exclusions - Valuation methods - Common policy forms |
| Topic 5: Insurance and the Intermediary | 10% | - Legal duties and ethics - Roles of brokers and agents - Licensing and regulation |
| Topic 6: Property Insurance Exposures | 10% | - Exposures and perils - Small commercial property risks - Personal property risks |
| Topic 7: Claims Handling | 8% | - Broker's role in claims - Settlement and subrogation - Claim reporting process |
| Topic 8: Automobile Insurance | 10% | - Rating and policy issues - Provincial variations - Mandatory and optional coverages |
| Topic 9: From Quote to Policy | 10% | - Policy issuance and delivery - Policy structure and components - Quotation and binding authority |
| Topic 10: Sales and Client Needs | 10% | - Insurance solutions - Client consultation - Risk identification |
1. Jim owns a metal factory. Which question should Jim's broker ask to best understand the commercial occupancy of the company?
A) Is your factory left unattended for long periods of time?
B) What does a typical day look like in your factory?
C) How is your factory protected against fire?
D) What is the total number of your staff?
2. A tenant's negligence causes a fire in the dwelling they rent. Typically, who is initially responsible for paying the damage?
A) The tenant who negligently caused the fire
B) The insurer that issued the tenant's legal liability policy
C) The dwelling's owner who is responsible for the tenant's actions
D) The insurer that issued the homeowners policy
3. Which statement describes the reimbursement of voluntary medical payments under a personal liability policy?
A) The insured is required to provide written proof and medical documentation.
B) The insured and the third party must live in the same household for there to be payment.
C) The injured party is required to prove that their injuries occurred as a result of negligence.
D) The third party will be reimbursed solely for direct damage to their property.
4. What aspect of communication involves parties interpreting verbal and non-verbal cues?
A) Passive exchange
B) Building rapport
C) Active listening
D) Matching
5. Which is an example of an indirect loss?
A) Arson at a retail store, initiated by an employee
B) Loss of income following a fire claim that closes a factory
C) Liability claim resulting from a slip and fall at a cinema
D) Water damage to an apartment when a frustrated tenant intentionally fails to turn off a tap
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: B |
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