IIC Essential Skills for the Insurance Broker and Agent : C130

C130 real exams

Exam Code: C130

Exam Name: Essential Skills for the Insurance Broker and Agent

Updated: Aug 11, 2026

Q & A: 79 Questions and Answers

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IIC C130 Exam Syllabus Topics:

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

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

1. Which article is not insured for off-premises coverage unless it is scheduled?

A) Business computer
B) Musical instrument
C) Firearm
D) Silverware


2. 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) $30 million
B) $37 million
C) $27 million
D) $40 million


3. Which item would be insured under a personal articles floater?

A) Stamp collection
B) Coffee machine
C) Leather sofa
D) Antique table


4. 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) Damages attestation
C) Statement of defence
D) Statement of claim


5. A client who wants coverage for a risk, independent from the risk a broker previously arranged coverage for, is usually required to submit which document?

A) Statement of change request
B) Formal written application
C) Insured's authorization application
D) Broker of record letter


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: A
Question # 4
Answer: D
Question # 5
Answer: B

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