IIC Essential Skills for the Insurance Broker and Agent : C130

  • Exam Code: C130
  • Exam Name: Essential Skills for the Insurance Broker and Agent
  • Updated: Jul 11, 2026
  • Q & A: 79 Questions and Answers

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

1. What information is typically included in a cover letter prepared by a broker for the insured?

A) A reminder to review the policy documents for accuracy
B) An explanation of the insurer's underwriting process
C) A description of the broker and insurer's relationship
D) An indication of the commission earned for placing the risk


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) One or two years
D) Two or three years


3. When qualifying a new client, how might an intermediary best differentiate their services from those of the current broker or agent?

A) Understand the financial motives of the client
B) Counter the incumbent's marketing and advertising strategies
C) Know the products the incumbent intermediary offers
D) Compete based on premium cost and commissions


4. In provinces with a graduated licensing system for intermediaries, what must the licensee achieve in order to write the next level of examination?

A) Regulator sponsorship
B) Adequate remuneration
C) Election to the council
D) Work experience


5. Which document releases the insurer from further obligations for a loss after payment is made?

A) Sworn statement
B) Proof of loss
C) Reservation of rights letter
D) Non-waiver agreement


Solutions:

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

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