IIC C130 : Essential Skills for the Insurance Broker and Agent

Exam Code: C130

Exam Name: Essential Skills for the Insurance Broker and Agent

Updated: Aug 18, 2026

Q & A: 79 Questions and Answers

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IIC C130 Exam Syllabus Topics:

SectionObjectives
Topic 1: Insurance Intermediaries and Distribution- Agency relationships and authority
- Role of agents and brokers
- Distribution systems (direct writer, independent brokerage, etc.)
Topic 2: Insurance Products and Policy Basics- Property and liability insurance fundamentals
- Policy structure and coverage concepts
Topic 3: Insurance Fundamentals and Core Concepts- Principles of insurance (risk, insurability, contracts)
- Types of risk and risk management
Topic 4: Ethics, Legal Principles, and Professional Standards- Ethical conduct and regulatory expectations
- Duty of care and fiduciary responsibility
Topic 5: Client Needs and Risk Assessment- Information gathering and client interviewing
- Identifying client exposures and loss potential

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

1. Prominently included on some property insurance policies is the statement "This policy contains a clause that may limit the amount payable." What clause is being referred to?

A) Deferred payment clause
B) Coinsurance clause
C) Stacked limits clause
D) Named exclusions clause


2. Which locale is an example of an attractive nuisance?

A) Public flower garden
B) Suburban street
C) Residential pool
D) Elementary school


3. 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


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

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


5. An insurer issues a special clause on a property policy for a restaurant which denies coverage unless a sprinkler system is installed and active in the kitchen at the time of a fire loss. What type of clause has the insurer issued?

A) Subscription
B) Condition
C) Exclusion
D) Requirement


Solutions:

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

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