IIC C131 Exam : Advanced Skills for the Insurance Broker and Agent

  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
  • Updated: Aug 20, 2026
  • Q & A: 79 Questions and Answers

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IIC C131 Exam Syllabus Topics:

SectionObjectives
Topic 1: Risk and Insurance Fundamentals- Risk identification and assessment
- Insurance principles and coverage types
Topic 2: Insurance Brokerage Practice- Broker roles and responsibilities
- Client relationship management
- Professional ethics and conduct
Topic 3: Underwriting and Policy Management- Underwriting guidelines and decision-making
- Policy administration and endorsements
Topic 4: Claims and Loss Handling- Claims processes and documentation
- Loss adjustment principles
Topic 5: Regulatory and Legal Environment- Insurance regulations in Canada
- Compliance and consumer protection

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

1. By conducting online research of a risk's profile and website, and asking about supplies, machinery, and manufacturing process used, which liability exposure of the risk is being assessed?

A) Professional
B) Current
C) Premises
D) Contractual


2. A commercial insurance agent receives a request for commercial automobile insurance from a client who transports radioactive materials. When reviewing the Autoplus report, the agent notices that the client frequently changes insurance providers, but there is no gap in insurance and the client only has minor claims in their history. What will the agent likely do, and why?

A) Accept the risk, as the agent's insurer writes the business
B) Decline the risk, as the motor vehicle record should have been included with the application
C) Accept the risk with no deductible, as this will offset the risk's loss ratio
D) Decline the risk, as it will not be profitable


3. For which prospective client should a broker conduct further risk analysis?

A) A small business owner requesting an insurance package identical to the one she currently has
B) An independent adjuster, who requires errors and omissions coverage
C) A retail store owner, who only has the one potential source of profit
D) A hardware store owner, who also delivers and assembles closets himself


4. When should a broker recommend that a client amend their existing risk management plan?

A) When hiring a new staff member
B) Annually at renewal
C) After financial statements are published
D) When changing a manufacturing process


5. What type of liability policy would cover a product liability exposure arising from an error in the manufacturing design of a product?

A) Directors and officers liability (D & O)
B) Garage liability
C) Commercial general liability (CGL)
D) Architect's liability


Solutions:

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

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