IIC C131 - Advanced Skills for the Insurance Broker and Agent

IIC C131 Actual PDF
  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
  • Updated: Jul 09, 2026
  • Q & A: 79 Questions and Answers
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IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:

1. A broker recommends that their commercial client repair the sprinkler system in their factory. Which risk management technique does the broker's suggestion fall under?

A) Diversification
B) Risk reduction
C) Risk transfer
D) Avoidance


2. A broker is using their prior market knowledge to place a risk with an insurer who accepts luxury log cabins.
Which insurer aspect is the broker considering?

A) Risk tolerance
B) Risk appetite
C) Risk avoidance
D) Risk management


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. A major automotive manufacturer is launching a line of electric vehicles. It intends to outsource the production of the vehicle batteries to a new supplier. The manufacturer's risk manager has requested that the supplier provide evidence of comprehensive vendor liability insurance, before the contract can be finalized.
What is the likely reason for the request?

A) The manufacturer wants to ensure that the supplier prioritizes its work over other manufacturers.
B) The manufacturer wants to be compensated in the event of the supplier's failure to perform the contract.
C) The manufacturer does not want to be held responsible for the supplier's contractual liability claims.
D) The manufacturer does not want to be held responsible for product liability claims.


5. Which phrase will best help an intermediary close a sale, after presenting the proposal to a client?

A) "How does our proposal compare to your current coverage?"
B) "Do you have any objections?"
C) "Would you like to insure with our company?"
D) "Which day would you like the payment plan to start?"


Solutions:

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

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