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IIC C130 Exam Syllabus Topics:

SectionObjectives
Ethics, Legal Principles, and Professional Standards- Ethical conduct and regulatory expectations
- Duty of care and fiduciary responsibility
Insurance Intermediaries and Distribution- Agency relationships and authority
- Distribution systems (direct writer, independent brokerage, etc.)
- Role of agents and brokers
Insurance Products and Policy Basics- Property and liability insurance fundamentals
- Policy structure and coverage concepts
Insurance Fundamentals and Core Concepts- Principles of insurance (risk, insurability, contracts)
- Types of risk and risk management
Client Needs and Risk Assessment- Information gathering and client interviewing
- Identifying client exposures and loss potential

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. $1,600
  • B. $1,900
  • C. $1,300
  • D. $1,750
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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When closing a sale, what makes it easier for the intermediary to counter any objections raised by the client?

  • A. Using unusual and extremely serious claims examples
  • B. Adopting assertive body language
  • C. Employing passive listening
  • D. Being aware of what is happening in the industry
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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What must an intermediary remember when using a valuation guide to calculate the replacement cost for a dwelling?

  • A. The mortgage value may be less than the cost of replacing the building.
  • B. There will be increased costs to repair or replace luxury or custom dwellings.
  • C. There is no substitute for an on-site inspection by the intermediary.
  • D. The tool used by each insurer would provide the exact same calculation.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Mikayla is an independent contractor who uses her own vehicle to deliver pizza. She is compensated by the number of pizzas she can deliver. If she is involved in an accident where she injures a third party, which coverage could respond?

  • A. The pizza company's non-owned automobile policy
  • B. The pizza company's professional liability policy
  • C. Mikayla's homeowners policy
  • D. Mikayla's employer's liability coverage from its tenant's legal liability
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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An insured reports a loss to their broker and is subsequently contacted by an adjuster to discuss the claim. A few days later, the insured calls their broker to ask a question about their claim settlement. What is the best course of action for the broker to take?

  • A. Connect the insured with their loss adjuster to discuss the claim
  • B. Advise the insured to contact the ombudsperson
  • C. Review the policy wordings with the insured
  • D. Provide expected settlement values to the insured
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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