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IIC C130 Exam Syllabus Topics:

SectionObjectives
Topic 1: Legal and Regulatory Framework- Law of agency and fiduciary duty
- Ethical standards and professional conduct
Topic 2: Insurance Products and Markets- Property and casualty insurance basics
- Commercial and personal lines overview
Topic 3: Broker and Agent Practice Skills- Policy placement and insurer interaction
- Client communication and advisory skills
Topic 4: Insurance Distribution Systems- Distribution models (independent agency, brokerage, direct writers)
- Agent vs broker roles and responsibilities
Topic 5: Insurance Fundamentals and Risk Concepts- Insurance principles and contract basics
- Nature of risk (pure vs speculative risk)

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

Michelle is a new agent who would like to protect herself against possible errors and omissions claims. What should Michelle practice in her interactions with clients and insurers?

  • A. Offer advice to clients if she thinks it is beneficial, even if it is outside her area of expertise
  • B. Ensure all communication with clients and insurers is done face-to-face
  • C. Recommend that clients consult with experts outside the insurance field if a situation calls for it
  • D. Use close-ended questions with clients at all times
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

Which occupancy would be most attractive to an insurer reviewing a property's exposure?

  • A. Restaurant
  • B. Clothing store
  • C. Auto body shop
  • D. Scrap yard
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

Priya, a broker, receives a call from a prospective client, Umberto. Priya handles Umberto's inquiry and at the end of the call asks how he heard about her brokerage. He states that his manager at work has their home and auto coverage placed with Priya's brokerage. Which prospecting method would Priya check off on her questionnaire?

  • A. Marketing
  • B. Upselling
  • C. Cross-selling
  • D. Cold calling
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

W & A Insurers Inc. has a capacity of $30 million for any single property risk. It also has a reinsurance agreement with Tri-insurance Inc. for an additional $40 million. A broker approaches W & A Insurers Inc.
with a request to write a low-hazard $37 million liability risk. What is the insurer's retention if it accepts and reinsures the risk?

  • A. $40 million
  • B. $30 million
  • C. $37 million
  • D. $27 million
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

Which type of adjuster processes a large volume of claims that do not require inspecting property damage or visiting the loss location?

  • A. Telephone adjuster
  • B. Account adjuster
  • C. Service adjuster
  • D. Remote adjuster
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

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