Study and Prepare with IIC C131 study material, That's Easy to pass With PracticeMaterial!
Updated: Aug 15, 2026
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| Certification Vendor: | Insurance Institute of Canada (IIC) / Chartered Insurance Institute (related CIP framework) |
| Exam Name: | Advanced Skills for the Insurance Broker and Agent |
| Exam Number: | C131 |
| Exam Format: | Final Exam (MCQ or mixed assessment depending on course delivery), Coursework / assignment component (in some delivery modes) |
| Related Certifications: | CIP (Chartered Insurance Professional) Program C130 Essential Skills for the Insurance Broker and Agent |
| Available Languages: | English |
| Sample Questions: | IIC C131 Sample Questions |
| Exam Way: | Online or in-person proctored exam depending on program delivery (CIP course structure) |
| Pre Condition: | Recommended prerequisite: C130 Essential Skills for the Insurance Broker and Agent (recommended, not always mandatory depending on pathway) |
| Official Syllabus URL: | https://www.insuranceinstitute.ca/en/Courses/CIP/C131 |
| Section | Objectives |
|---|---|
| Property Insurance Coverages | - Property coverages fundamentals |
| Specialized Insurance Lines | - Automobile insurance - Contractors insurance - Crime and bonds - Manufacturers, distributors, freight forwarders - Builders risk insurance |
| Risk Management | - Selecting risk techniques - Analyzing risk exposures - Insurance in a risk management plan - Monitoring and modifying risk management plans |
| Liability Insurance | - Commercial and general liability concepts |
1. Insurance premiums on automobile fleet policies are based on which factor?
A) Mechanical condition of a vehicle from one particular fleet
B) Original purchase price of all vehicles in the fleet
C) Overall experience of all drivers
D) Driving record of the individual drivers
2. What is a disadvantage of a broker using one-way communication with clients?
A) Time consuming
B) Too costly
C) Lack of generalization for clients
D) Client may not read the communication
3. Which party is the beneficiary under a surety bond?
A) Obligee
B) Surety
C) Principal
D) Insurer
4. The owner of a successful chain of spas wants to ensure her liability coverage is adequate. She has read about several lawsuits regarding slip and falls within spas, and she has been fielding questions via social media about health and safety practices from her clients. Her broker advises she has a broad umbrella policy over and above her primary policy. What coverage does the umbrella policy include?
A) Accidental death and dismemberment
B) Workers' compensation
C) Advertising liability
D) Money and securities
5. What is the purpose of a letter of authorization?
A) Acts as express written permission for the broker to bind any policies on behalf of the insurer
B) Permits an insured to nominate a legal representative to speak and transact business on her behalf
C) Directs the underwriter to deal with the broker named in the letter on the particular client's account
D) Confirms the exclusive business agreement between the intermediary and the insurance company
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: C | Question # 5 Answer: C |
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