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IIC C130 Exam Overview:

IIC C130 Exam Syllabus Topics:

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

1. Michelle is a new agent who would like to protect herself against possible errors and omissions claims. What should Michelle practice in her interactions with clients and insurers?

A) Use close-ended questions with clients at all times
B) Ensure all communication with clients and insurers is done face-to-face
C) Offer advice to clients if she thinks it is beneficial, even if it is outside her area of expertise
D) Recommend that clients consult with experts outside the insurance field if a situation calls for it

2. How many years of driving experience are newly licensed drivers generally credited for if they have completed an approved driver training course?

A) Four or five years
B) Three or four years
C) Two or three years
D) One or two years

3. Katherine is employed as an adjuster and has been assigned a large liability claim. The insured had two recent claims and Katherine suspects this claim might be staged. She sends the insured a non-waiver agreement allowing her to investigate the loss without accepting liability. If the insured refuses to sign the agreement, what would Katherine send next?

A) Acceptance confirmation
B) Reservation of rights letter
C) Forfeiture agreement
D) Liability admittance notice

4. Brenda works as a property and casualty underwriter in an industry that has some staged claims. Her accounts have a poor loss ratio and she has been put on a performance plan. She recently shadowed a senior broker for training purposes. He advised her on qualifying the client to establish whether the client and the brokerage can form a mutually beneficial business relationship.
She has just been approached by a new client, who would be the largest client in her portfolio. Describe what Brenda should keep in mind for her process regarding this client. How can Brenda qualify the client? Provide two questions she could ask if she suspects a moral hazard.

5. John, a broker, has binding authority for comprehensive homeowners policies up to $200,000. On Saturday morning, a potential client calls John and advises that she is at the lawyer's office signing the purchasing documents for a $500,000 home and requires comprehensive homeowners coverage immediately. What action should John take?

A) Issue a cover note providing a comprehensive homeowners policy with a policy limit of $500,000
B) Inspect the home and, if the risk is acceptable, issue a comprehensive homeowners policy with a limit of $500,000
C) Provide coverage on a named-perils basis
D) State that he will try to arrange coverage with the insurer on Monday morning

Solutions: