IIC C130

In recent years, many people choose to take IIC C130 certification exam which can make you get the IIC certificate that is the passport to get a better job and get promotions.

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

1. During the renewal process, which tool keeps the broker on track and protects against lawsuits by requiring the insured's signature?

A) Checklist
B) Flowchart
C) Binder
D) Cover note

2. When brokers are self-regulated, which body enacts the licensing laws?

A) Brokerage or agency in which the intermediary is employed
B) Federal government only
C) Provincial or territorial government
D) Insurance company with which the intermediary places the majority of business

3. What do statutory conditions and general conditions have in common?

A) Designed to protect the insured
B) Are countersigned by an executive of the insured
C) Apply to all types of insurance
D) Considered fine print wordings

4. In which Canadian province is compulsory automobile insurance purchased from a private insurer?

A) Manitoba
B) British Columbia
C) Saskatchewan
D) Newfoundland and Labrador

5. The insurance industry is entering a hard market as a result of losses arising from extreme weather. Megan, a broker, has been advised by the North American Fire and Casualty Company that it will be increasing its homeowner policy rates by 25 percent, effective immediately.
How should Megan deliver the bad news to her client Mr. Robertson, a widower living on a fixed pension?
How will she communicate with her client and what outcomes will Megan work towards?

Solutions: