IIC C131 : Advanced Skills for the Insurance Broker and Agent

C131 pass collection

Exam Code: C131

Exam Name: Advanced Skills for the Insurance Broker and Agent

Updated: Sep 02, 2026

Q & A: 79 Questions and Answers

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IIC C131 Exam Syllabus Topics:

SectionObjectives
Topic 1: Liability Insurance- Commercial and general liability concepts
Topic 2: Property Insurance Coverages- Property coverages fundamentals
Topic 3: Specialized Insurance Lines- Builders risk insurance
- Automobile insurance
- Contractors insurance
- Crime and bonds
- Manufacturers, distributors, freight forwarders
Topic 4: Risk Management- Insurance in a risk management plan
- Selecting risk techniques
- Analyzing risk exposures
- Monitoring and modifying risk management plans

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

Question 1

How is a party treated when added to a liability policy as an additional named insured?

A. Both the names of the corporation and the individual insured must be listed on the declarations page.
B. Named loss payees have more rights than the named insured.
C. Additional named insureds can be amended by the broker without the need to inform the insurer.
D. The certificate holder receives the same protections under the policy as named insureds.


Question 2

Insurance premiums on automobile fleet policies are based on which factor?

A. Original purchase price of all vehicles in the fleet
B. Overall experience of all drivers
C. Mechanical condition of a vehicle from one particular fleet
D. Driving record of the individual drivers


Question 3

After examining an organization's financial statements and accounting records, a broker decides that they would like to take the company on as a client. What did the broker determine during their examination that helped make this decision?

A. The organization is compliant with federal and provincial tax laws.
B. The organization is consistently profitable.
C. The organization has a captive company.
D. The organization has paid policy premiums on time for the last seven years.


Question 4

A company that owns several large coal mines is sent a letter of notification from its insurer, stating that policy coverage will be more restrictive going forward, particularly regarding pollution. Why would the coverage become more restrictive?

A. Decrease in remediation expenses
B. Reduction in mandatory arbitration
C. Changes in the law
D. Insurer competition


Question 5

A broker is using their prior market knowledge to place a risk with an insurer who accepts luxury log cabins.
Which insurer aspect is the broker considering?

A. Risk avoidance
B. Risk management
C. Risk tolerance
D. Risk appetite


Solutions:

Question 1
Answer: D
Question 2
Answer: B
Question 3
Answer: B
Question 4
Answer: C
Question 5
Answer: D

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