IIC C131 : Advanced Skills for the Insurance Broker and Agent

  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
  • Updated: Aug 16, 2026
  • Q & A: 79 Questions and Answers

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IIC C131 Exam Syllabus Topics:

SectionObjectives
Topic 1: Underwriting and Policy Management- Policy administration and endorsements
- Underwriting guidelines and decision-making
Topic 2: Claims and Loss Handling- Claims processes and documentation
- Loss adjustment principles
Topic 3: Insurance Brokerage Practice- Broker roles and responsibilities
- Professional ethics and conduct
- Client relationship management
Topic 4: Risk and Insurance Fundamentals- Insurance principles and coverage types
- Risk identification and assessment
Topic 5: Regulatory and Legal Environment- Compliance and consumer protection
- Insurance regulations in Canada

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

1. Helen, an agent for a marine insurer, is reviewing the renewal policy of her freight forwarding account. The firm has just expanded its operations to include United States exposure. Helen advises that a modification will be needed on both the current policy term and the renewal policy term. What is her reasoning to perform changes on both terms?

A) As the firm has expanded its area of exposure, a new policy will be required, and the renewal policy must be rescinded.
B) If the firm has a claim in the United States, the insurer may deny coverage.
C) If the firm is importing and exporting American goods, the brokerage must attach a tariff disclaimer document to the policies.
D) As the firm did not advise the insurer in advance, the insurer can void coverage for misrepresentation.


2. What does the permissions clause in a building insurance policy allow the insured to do?

A) Move undamaged property to a secure site to prevent further damage after a loss
B) Clean up debris from a loss prior to advising the insurer
C) Use the property for purposes other than those stated on the policy
D) Proceed with additions, alterations, or repairs, without having to inform the insurer in advance


3. An employee of a self-storage facility is careless and causes a fire resulting in damages to the contents in three rental storage units. The renters of the units could seek reimbursement under which policy?

A) Commercial property floater policy
B) Contingent business interruption policy
C) Warehouseman's legal liability policy
D) Rental insurance policy


4. 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) Whether the prospect is a morale hazard
C) How large the facility is
D) How many expenses the facility has


5. Charlotte, a broker, is meeting a potential client in person, and hopes to close the new business account. The potential client is a contractor, a line of work which Charlotte also has past experience in.
a) Explain how Charlotte can present herself professionally in the meeting to establish credibility with the client.
b) Explain the value of establishing credibility with the client and the value Charlotte brings to the interaction.


Solutions:

Question # 1
Answer: B
Question # 2
Answer: D
Question # 3
Answer: C
Question # 4
Answer: B
Question # 5
Answer: Only visible for members

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