IIC C131 Q&A - in .pdf

  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
  • Updated: Jul 11, 2026
  • Q & A: 79 Questions and Answers
  • PDF Price: $59.99
  • Printable IIC C131 PDF Format. It is an electronic file format regardless of the operating system platform.
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IIC C131 Q&A - Testing Engine

  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
  • Updated: Jul 11, 2026
  • Q & A: 79 Questions and Answers
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  • PC Test Engine Price: $59.99
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IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:

1. A broker is preparing to meet with a prospective client, Queen Ice Cream, who manufactures and distributes ice cream to five different provinces. What can the broker ask to ensure a smooth transition for the client?

A) How many flavours of ice cream does the client sell?
B) How many competitors are in the market?
C) Do all existing policies expire at the same time?
D) How long has the client been in business?


2. How is the premium for a garage policy computed on a monthly average basis?

A) Allows the insured to file quarterly reports detailing the actual monthly exposure
B) Requires that the insurer refund the insured if the total adjusted premium is greater than the advance premium
C) Permits the charging of an advance premium that is 75 percent of the annual premium
D) Provides an adjustment at year end after charging a 100 percent advance premium


3. A real estate investment trust is a long-term client of Best Brokerage. The REIT intends to tear down one unused warehouse and build an apartment in its place. The risk manager requests insurance coverage for the project, wants to avoid a significant increase in premium, and does not want to include cost overruns.
a) Briefly discuss how the limits of insurance of this project will be determined, and what type of costs are included in the limit.
b) Should the risk manager exclude cost overruns from the limit of insurance? Explain your answer.


4. Annette, a new broker, is completing a wrap-up liability insurance application for a condominium development. Before finalizing the application, she asks a coworker to review it. Her coworker advises Annette that she has missed an important detail. What detail did Annette likely miss?

A) The project owner must provide evidence of separate liability coverage to qualify for the policy.
B) The architect needs to be named as the primary insured on the policy.
C) The application must include information about the construction of the parking garage.
D) The application needs to list all condominium developments currently under construction by the general contractor.


5. A broker is reviewing a quote against a submission for a client. The client owns several older rental housing units. Underwriting has agreed to the submission, with a roof exclusion on the older buildings. The client is happy with the premium cost, but not the exclusion. What should the broker do next?

A) Debate the underwriting department to prove the roofs are in good condition
B) Recommend the client find insurance elsewhere
C) Counsel the client to take the offer as is, since they like the price
D) Suggest the client replace the roofs in exchange for removal of the exclusion


Solutions:

Question # 1
Answer: C
Question # 2
Answer: D
Question # 3
Answer: Only visible for members
Question # 4
Answer: C
Question # 5
Answer: D

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