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IIC C131 Exam Syllabus Topics:

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

Question 1

Valuable information about the principals of a prospect's company, the products and services the company sells, and other financial data could be found by reviewing which source?

A. D & B reports
B. The prospect's property appraisal
C. The prospect's website
D. Best's Underwriting Guide

Question 2

Which person would be hired by another contractor, because of her experience in a particular trade, to complete a portion of a larger project?

A. Project manager
B. Inspector
C. Subcontractor
D. Consultant

Question 3

An architect is sued by a client for having failed to account for local bylaws when designing a new home. For the insurance company to defend the architect, which coverage must he have in place?

A. Errors and omissions
B. Wrap-up liability
C. Commercial building, equipment, and stock
D. Explosion, collapse, and underpinning

Question 4

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

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

Question 5

What is insurer solvency?

A. The amount of claims an insurer has closed in the past year
B. An agreement between multiple insurance companies
C. An obligation to meet a rating company's opinion
D. The ability of an insurer to meet its financial obligations

Solutions: