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IIC C130 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Property Insurance Exposures | 10% | - Small commercial property risks - Exposures and perils - Personal property risks |
| Topic 2: Insurance and the Intermediary | 10% | - Roles of brokers and agents - Legal duties and ethics - Licensing and regulation |
| Topic 3: The Application Process | 10% | - Duty of disclosure - Underwriting considerations - Completing applications |
| Topic 4: Liability Insurance | 12% | - Legal liability concepts - Personal liability coverages - Commercial general liability |
| Topic 5: Sales and Client Needs | 10% | - Client consultation - Insurance solutions - Risk identification |
| Topic 6: Automobile Insurance | 10% | - Mandatory and optional coverages - Rating and policy issues - Provincial variations |
| Topic 7: Property Insurance Wordings | 12% | - Coverages and exclusions - Common policy forms - Valuation methods |
| Topic 8: From Quote to Policy | 10% | - Policy issuance and delivery - Policy structure and components - Quotation and binding authority |
| Topic 9: Claims Handling | 8% | - Claim reporting process - Settlement and subrogation - Broker's role in claims |
| Topic 10: Communication and Service Skills | 8% | - Policy changes and endorsements - Client communication - Record keeping |
IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
1. What is an agent's primary duty to the insurer?
A) Quote the client with maximum amounts of liability coverage
B) Provide the insurer with all relevant material facts
C) Bind the policy with the insurer they have the best relationship with
D) Provide the insurer with the insured's finances upon request
2. Katherine is employed as an adjuster and has been assigned a large liability claim. The insured had two recent claims and Katherine suspects this claim might be staged. She sends the insured a non-waiver agreement allowing her to investigate the loss without accepting liability. If the insured refuses to sign the agreement, what would Katherine send next?
A) Reservation of rights letter
B) Acceptance confirmation
C) Forfeiture agreement
D) Liability admittance notice
3. What is an agent's consideration when assessing a potential client and the client's attitude towards risk?
A) People have the same acceptance of risk.
B) Clients who lead riskier lives are good sources of profit for insurance brokers.
C) Availability of insurance coverage may be affected by the client's lifestyle.
D) People's habits are unrelated to their level of risk.
4. When qualifying a new client, how might an intermediary best differentiate their services from those of the current broker or agent?
A) Understand the financial motives of the client
B) Counter the incumbent's marketing and advertising strategies
C) Compete based on premium cost and commissions
D) Know the products the incumbent intermediary offers
5. Trevor is cutting down a tree in his backyard. The tree accidentally falls onto his neighbour's shed, destroying the roof. Two weeks later, Trevor receives a document from his neighbour suing him for the damages to the shed and its contents. Which document has Trevor received?
A) Judgment notice
B) Statement of claim
C) Damages attestation
D) Statement of defence
Solutions:
| Question # 1 Answer: B | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: D | Question # 5 Answer: B |

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