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IIC C130 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: From Quote to Policy | 10% | - Policy structure and components - Policy issuance and delivery - Quotation and binding authority |
| Topic 2: The Application Process | 10% | - Underwriting considerations - Duty of disclosure - Completing applications |
| Topic 3: Property Insurance Wordings | 12% | - Valuation methods - Common policy forms - Coverages and exclusions |
| Topic 4: Claims Handling | 8% | - Claim reporting process - Settlement and subrogation - Broker's role in claims |
| Topic 5: Sales and Client Needs | 10% | - Risk identification - Client consultation - Insurance solutions |
| Topic 6: Property Insurance Exposures | 10% | - Personal property risks - Exposures and perils - Small commercial property risks |
| Topic 7: Liability Insurance | 12% | - Personal liability coverages - Commercial general liability - Legal liability concepts |
| Topic 8: Insurance and the Intermediary | 10% | - Licensing and regulation - Legal duties and ethics - Roles of brokers and agents |
| Topic 9: Automobile Insurance | 10% | - Mandatory and optional coverages - Rating and policy issues - Provincial variations |
| Topic 10: Communication and Service Skills | 8% | - Policy changes and endorsements - Record keeping - Client communication |
IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
1. 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
2. Miro's vehicle and Stephanie's vehicle collide with each other in New Brunswick. Neither of them has loss or damage coverage, also known as collision coverage. The chart shows the physical damage and assigned fault.
How would the payment be apportioned?
Driver | Physical Damage | Fault Percent
Miro | $4,000 | 50%
Stephanie | $2,000 | 50%
A) Miro can collect $2,000 from his insurer and $2,000 from Stephanie's insurer; Stephanie can collect
$1,000 from her insurer and $1,000 from Miro's insurer.
B) Miro can collect $2,000 from his insurer and $1,000 from Stephanie's insurer; Stephanie can collect
$1,000 from her insurer and $500 from Miro's insurer.
C) Miro can collect $4,000 from his insurer; Stephanie can collect $2,000 from her insurer. Miro's insurer will subrogate against Stephanie's insurer for $2,000 and Stephanie's insurer will subrogate against Miro's insurer for $1,000.
D) Miro can collect $2,000 from his insurer; Stephanie can collect $1,000 from her insurer.
3. Jim owns a metal factory. Which question should Jim's broker ask to best understand the commercial occupancy of the company?
A) How is your factory protected against fire?
B) What does a typical day look like in your factory?
C) What is the total number of your staff?
D) Is your factory left unattended for long periods of time?
4. When does a minimum retained premium apply to a policy?
A) When the insured moves the policy at renewal to another insurer
B) When the insurer cancels the policy at any time
C) When the insured cancels the policy midterm
D) When the policy has been voided for misrepresentation
5. Which document releases the insurer from further obligations for a loss after payment is made?
A) Sworn statement
B) Reservation of rights letter
C) Non-waiver agreement
D) Proof of loss
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: D | Question # 3 Answer: B | Question # 4 Answer: C | Question # 5 Answer: D |




