IIC C130 Exam : Essential Skills for the Insurance Broker and Agent

  • Exam Code: C130
  • Exam Name: Essential Skills for the Insurance Broker and Agent
  • Updated: Oct 05, 2026
  • Q & A: 79 Questions and Answers

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IIC C130 Exam Syllabus Topics:

SectionWeightObjectives
Claims Handling8%- Broker's role in claims
- Settlement and subrogation
- Claim reporting process
Automobile Insurance10%- Rating and policy issues
- Provincial variations
- Mandatory and optional coverages
Sales and Client Needs10%- Client consultation
- Insurance solutions
- Risk identification
The Application Process10%- Underwriting considerations
- Duty of disclosure
- Completing applications
Property Insurance Wordings12%- Valuation methods
- Common policy forms
- Coverages and exclusions
Property Insurance Exposures10%- Small commercial property risks
- Exposures and perils
- Personal property risks
From Quote to Policy10%- Policy issuance and delivery
- Quotation and binding authority
- Policy structure and components
Liability Insurance12%- Commercial general liability
- Personal liability coverages
- Legal liability concepts
Insurance and the Intermediary10%- Roles of brokers and agents
- Legal duties and ethics
- Licensing and regulation
Communication and Service Skills8%- Policy changes and endorsements
- Record keeping
- Client communication

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

Question #1

Which homeowners package policy provides all-perils coverage on the building and named-perils coverage on the contents?

  • A. Comprehensive
  • B. Basic
  • C. Standard
  • D. Broad
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #2

Why is the precedent-setting case Fine's Flowers Ltd. et al. v. General Accident Assurance Co. of Canada et al. significant?

  • A. Outlined the intermediary's stringent duty of care owed to clients
  • B. Restructured the content of agency contracts between insurers and intermediaries
  • C. Defined special risks and the responsibility the insurer has to limit the intermediary's authority
  • D. Established that intermediaries will be held accountable if they provide legal advice
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Question #3

Regarding the duty of disclosure, what is required to comply with the principle of utmost good faith?

  • A. The intermediary is required to withhold disclosure of pertinent information if the client asks the broker to do so.
  • B. The applicant has a duty to disclose all relevant and irrelevant facts.
  • C. Full disclosure of material information is required of the applicant.
  • D. The broker or agent determines whether the information is material to the risk and discloses information accordingly, on behalf of the insured.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

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

  • A. Flowchart
  • B. Binder
  • C. Checklist
  • D. Cover note
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

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
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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