IIC C130 Exam : Essential Skills for the Insurance Broker and Agent

  • Exam Code: C130
  • Exam Name: Essential Skills for the Insurance Broker and Agent
  • Updated: Oct 09, 2026
  • Q & A: 79 Questions and Answers

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IIC C130 Exam Syllabus Topics:

SectionWeightObjectives
Claims Handling8%- Claim reporting process
- Broker's role in claims
- Settlement and subrogation
From Quote to Policy10%- Policy structure and components
- Quotation and binding authority
- Policy issuance and delivery
Insurance and the Intermediary10%- Legal duties and ethics
- Licensing and regulation
- Roles of brokers and agents
Communication and Service Skills8%- Policy changes and endorsements
- Client communication
- Record keeping
Property Insurance Exposures10%- Exposures and perils
- Small commercial property risks
- Personal property risks
The Application Process10%- Duty of disclosure
- Completing applications
- Underwriting considerations
Property Insurance Wordings12%- Coverages and exclusions
- Valuation methods
- Common policy forms
Liability Insurance12%- Legal liability concepts
- Personal liability coverages
- Commercial general liability
Sales and Client Needs10%- Risk identification
- Insurance solutions
- Client consultation
Automobile Insurance10%- Mandatory and optional coverages
- Provincial variations
- Rating and policy issues

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

Question #1

Insurance is based on the existence of which factor?

  • A. Absolute liability
  • B. Tortfeasors
  • C. Risk
  • D. Premium
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

In insurance sales terminology, what is a lead?

  • A. A segment of existing clients who have similar insurance coverage needs
  • B. An insurer with an underwriting policy that most closely aligns with a broker's requirements
  • C. A member of a group of potential clients that fits the profile that has been determined as the marketing target
  • D. A broker who aims to meet their clients' needs with products
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

What information is typically included in a cover letter prepared by a broker for the insured?

  • A. An indication of the commission earned for placing the risk
  • B. A reminder to review the policy documents for accuracy
  • C. A description of the broker and insurer's relationship
  • D. An explanation of the insurer's underwriting process
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #4

Why would an insured need an advertising injury liability extension in addition to the coverage provided by the standard commercial general liability policy?

  • A. To cover the liability arising from an invasion of privacy in written publications
  • B. To protect against unauthorized use of the insured's idea
  • C. To protect against infringement of the insured's copyright, trade dress, or slogan
  • D. To cover the liability arising out of advertising the goods and services of the business
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #5

Which homeowners package policy provides all-perils coverage on the building and named-perils coverage on the contents?

  • A. Standard
  • B. Broad
  • C. Basic
  • D. Comprehensive
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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