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IIC C130 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Insurance Products and Markets | - Commercial and personal lines overview - Property and casualty insurance basics |
| Insurance Fundamentals and Risk Concepts | - Nature of risk (pure vs speculative risk) - Insurance principles and contract basics |
| Insurance Distribution Systems | - Agent vs broker roles and responsibilities - Distribution models (independent agency, brokerage, direct writers) |
| Legal and Regulatory Framework | - Ethical standards and professional conduct - Law of agency and fiduciary duty |
| Broker and Agent Practice Skills | - Client communication and advisory skills - Policy placement and insurer interaction |
IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
1. Which homeowners package policy provides all-perils coverage on the building and named-perils coverage on the contents?
A) Comprehensive
B) Standard
C) Basic
D) Broad
2. Insurance is based on the existence of which factor?
A) Tortfeasors
B) Absolute liability
C) Risk
D) Premium
3. Chandeep, a broker with binding authority, sold property and liability coverage to his new client, Multiplex Movies. Three days into the policy term, there was a slip-and-fall incident. The liability loss was denied by the insurer. Multiplex Movies sues Chandeep for E & O. Which allegation will most likely be successful for the insured?
A) Failure to explain the steps to take in the event of a claim
B) Failure to provide cover for exposures
C) Failure to provide cover in time
D) Failure to issue a tangible policy
4. What type of automobile insurance endorsement provides coverage for physical damage to a rented vehicle for which the insured has assumed responsibility under contract?
A) Loss of use
B) Non-owned automobile
C) Loss of or damage to insured automobile
D) Agreed value of automobiles
5. Why is the precedent-setting case Fine's Flowers Ltd. et al. v. General Accident Assurance Co. of Canada et al. significant?
A) Established that intermediaries will be held accountable if they provide legal advice
B) Restructured the content of agency contracts between insurers and intermediaries
C) Outlined the intermediary's stringent duty of care owed to clients
D) Defined special risks and the responsibility the insurer has to limit the intermediary's authority
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: C | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: C |




