IIC Essential Skills for the Insurance Broker and Agent : C130

  • 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
Topic 1: Property Insurance Wordings12%- Common policy forms
- Coverages and exclusions
- Valuation methods
Topic 2: Property Insurance Exposures10%- Personal property risks
- Small commercial property risks
- Exposures and perils
Topic 3: The Application Process10%- Completing applications
- Duty of disclosure
- Underwriting considerations
Topic 4: Sales and Client Needs10%- Client consultation
- Risk identification
- Insurance solutions
Topic 5: Liability Insurance12%- Personal liability coverages
- Commercial general liability
- Legal liability concepts
Topic 6: Insurance and the Intermediary10%- Legal duties and ethics
- Roles of brokers and agents
- Licensing and regulation
Topic 7: Claims Handling8%- Settlement and subrogation
- Claim reporting process
- Broker's role in claims
Topic 8: Communication and Service Skills8%- Client communication
- Policy changes and endorsements
- Record keeping
Topic 9: Automobile Insurance10%- Provincial variations
- Rating and policy issues
- Mandatory and optional coverages
Topic 10: From Quote to Policy10%- Policy issuance and delivery
- Quotation and binding authority
- Policy structure and components

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

Question #1

Which item would be insured under a personal articles floater?

  • A. Antique table
  • B. Leather sofa
  • C. Stamp collection
  • D. Coffee machine
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #2

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

  • A. Reservation of rights letter
  • B. Non-waiver agreement
  • C. Proof of loss
  • D. Sworn statement
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

What is included in an experience letter from an insurer or broker?

  • A. List of all vehicles owned by the insured over the past six years
  • B. Amount of the last insurance premium paid
  • C. Name of each driver and applicable licence class
  • D. Period during which the individual was insured
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

What type of automobile insurance endorsement provides coverage for physical damage to a rented vehicle for which the insured has assumed responsibility under contract?

  • A. Loss of use
  • B. Non-owned automobile
  • C. Loss of or damage to insured automobile
  • D. Agreed value of automobiles
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #5

Miro's vehicle and Stephanie's vehicle collide with each other in New Brunswick. Neither of them has loss or damage coverage, also known as collision coverage. The chart shows the physical damage and assigned fault.
How would the payment be apportioned?
Driver | Physical Damage | Fault Percent
Miro | $4,000 | 50%
Stephanie | $2,000 | 50%

  • A. Miro can collect $2,000 from his insurer and $1,000 from Stephanie's insurer; Stephanie can collect
    $1,000 from her insurer and $500 from Miro's insurer.
  • B. Miro can collect $2,000 from his insurer; Stephanie can collect $1,000 from her insurer.
  • C. Miro can collect $4,000 from his insurer; Stephanie can collect $2,000 from her insurer. Miro's insurer will subrogate against Stephanie's insurer for $2,000 and Stephanie's insurer will subrogate against Miro's insurer for $1,000.
  • D. Miro can collect $2,000 from his insurer and $2,000 from Stephanie's insurer; Stephanie can collect
    $1,000 from her insurer and $1,000 from Miro's insurer.
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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