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Following are some reference material for actual IIC C130 exam test
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Liability Insurance | 12% | - Personal liability coverages - Commercial general liability - Legal liability concepts |
| Topic 2: Property Insurance Wordings | 12% | - Valuation methods - Coverages and exclusions - Common policy forms |
| Topic 3: Claims Handling | 8% | - Settlement and subrogation - Claim reporting process - Broker's role in claims |
| Topic 4: Automobile Insurance | 10% | - Rating and policy issues - Provincial variations - Mandatory and optional coverages |
| Topic 5: The Application Process | 10% | - Completing applications - Underwriting considerations - Duty of disclosure |
| Topic 6: Sales and Client Needs | 10% | - Risk identification - Client consultation - Insurance solutions |
| Topic 7: Property Insurance Exposures | 10% | - Personal property risks - Small commercial property risks - Exposures and perils |
| Topic 8: Insurance and the Intermediary | 10% | - Roles of brokers and agents - Licensing and regulation - Legal duties and ethics |
| Topic 9: Communication and Service Skills | 8% | - Record keeping - Client communication - Policy changes and endorsements |
| Topic 10: From Quote to Policy | 10% | - Quotation and binding authority - Policy issuance and delivery - Policy structure and components |
What type of automobile insurance endorsement provides coverage for physical damage to a rented vehicle for which the insured has assumed responsibility under contract?
Correct Answer: B 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
When closing a sale, what makes it easier for the intermediary to counter any objections raised by the client?
Correct Answer: A 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
An insured reports a loss to their broker and is subsequently contacted by an adjuster to discuss the claim. A few days later, the insured calls their broker to ask a question about their claim settlement. What is the best course of action for the broker to take?
Correct Answer: A 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
What should a broker do when selecting coverage for a client?
Correct Answer: D 🗳️
Explanation: Only visible for Pass4guide members. You can sign-up / login (it's free).
What is an agent's consideration when assessing a potential client and the client's attitude towards risk?
Correct Answer: C 🗳️
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