IIC Essential Skills for the Insurance Broker and Agent : C130

C130 Exam Simulator
  • Exam Code: C130
  • Exam Name: Essential Skills for the Insurance Broker and Agent
  • Updated: Sep 21, 2026
  • Q & A: 79 Questions and Answers

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IIC C130 exam simulator

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IIC C130 Exam Syllabus Topics:

SectionObjectives
Legal and Regulatory Framework- Ethical standards and professional conduct
- Law of agency and fiduciary duty
Insurance Products and Markets- Property and casualty insurance basics
- Commercial and personal lines overview
Broker and Agent Practice Skills- Policy placement and insurer interaction
- Client communication and advisory skills
Insurance Distribution Systems- Agent vs broker roles and responsibilities
- Distribution models (independent agency, brokerage, direct writers)
Insurance Fundamentals and Risk Concepts- Nature of risk (pure vs speculative risk)
- Insurance principles and contract basics

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

Question #1

What should the intermediary do if the person reporting the claim is not named on the insurance policy?

  • A. Ask the insurer to add the interested party as an additional insured
  • B. Attempt to discuss the matter with the client
  • C. Contact the police
  • D. Send the client a statement of claim
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

A tenant's negligence causes a fire in the dwelling they rent. Typically, who is initially responsible for paying the damage?

  • A. The insurer that issued the tenant's legal liability policy
  • B. The dwelling's owner who is responsible for the tenant's actions
  • C. The insurer that issued the homeowners policy
  • D. The tenant who negligently caused the fire
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #3

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 $2,000 from Stephanie's insurer; Stephanie can collect
    $1,000 from her insurer and $1,000 from Miro's insurer.
  • B. 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.
  • C. Miro can collect $2,000 from his insurer; Stephanie can collect $1,000 from her insurer.
  • D. 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.
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #4

Chandeep, a broker with binding authority, sold property and liability coverage to his new client, Multiplex Movies. Three days into the policy term, there was a slip-and-fall incident. The liability loss was denied by the insurer. Multiplex Movies sues Chandeep for E & O. Which allegation will most likely be successful for the insured?

  • A. Failure to issue a tangible policy
  • B. Failure to provide cover in time
  • C. Failure to provide cover for exposures
  • D. Failure to explain the steps to take in the event of a claim
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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Question #5

What does the term contra proferentem mean?

  • A. The policy can be affirmed at the option of the insured.
  • B. Any insured listed on the policy must comply with all obligations under the policy.
  • C. The policy will be treated as if it never existed.
  • D. Any uncertainty in the policy wording will be construed in the insured's favour.
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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