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IIC C131 Questions & Answers - in .pdf

C131 pdf
  • Total Q&A: 79
  • Update: Aug 18, 2026
  • Price: $59.99
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  • Vendor: IIC
  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
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IIC C131 Q&A - Testing Engine

C131 Study Guide
  • Total Q&A: 79
  • Update: Aug 18, 2026
  • Price: $59.99
Testing Engine
  • Vendor: IIC
  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
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IIC C131 Exam Syllabus Topics:

SectionObjectives
Risk and Insurance Fundamentals- Insurance principles and coverage types
- Risk identification and assessment
Regulatory and Legal Environment- Insurance regulations in Canada
- Compliance and consumer protection
Claims and Loss Handling- Loss adjustment principles
- Claims processes and documentation
Underwriting and Policy Management- Underwriting guidelines and decision-making
- Policy administration and endorsements
Insurance Brokerage Practice- Broker roles and responsibilities
- Professional ethics and conduct
- Client relationship management

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

1. What does the permissions clause in a building insurance policy allow the insured to do?

A) Proceed with additions, alterations, or repairs, without having to inform the insurer in advance
B) Clean up debris from a loss prior to advising the insurer
C) Move undamaged property to a secure site to prevent further damage after a loss
D) Use the property for purposes other than those stated on the policy


2. What does pure risk entail?

A) Chance of profit without loss
B) Only gain
C) Either gain or loss
D) Chance of loss without gain


3. Davies Architect has opened two new offices in the last quarter. Its recent claims history includes a break-in at its head office a month ago and legal action against the firm due to a structural mistake made by the architect and engineer six months ago. The firm's insurance broker is reviewing its current insurance program, and the renewal date is in two months. Due to stable market conditions, there have been no recent changes made by insurers to policy wordings or pricing. The firm has been very cooperative with providing information. Briefly discuss how the broker would review the renewal for this architectural firm.


4. An architect is sued by a client for having failed to account for local bylaws when designing a new home. For the insurance company to defend the architect, which coverage must he have in place?

A) Errors and omissions
B) Wrap-up liability
C) Explosion, collapse, and underpinning
D) Commercial building, equipment, and stock


5. Why is bylaws insurance used?

A) To cover projects that can take years to complete
B) To cover vacant lots
C) To protect wooded lots in the country
D) To protect new buildings that comply with the latest building codes


Solutions:

Question # 1
Answer: A
Question # 2
Answer: D
Question # 3
Answer: Only visible for members
Question # 4
Answer: A
Question # 5
Answer: A

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C131 Related Exams
C11 - Principles and Practice of Insurance
C130 - Essential Skills for the Insurance Broker and Agent
C131 - Advanced Skills for the Insurance Broker and Agent
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RIBO Insurance Broker
Chartered Insurance Professional (CIP)