Advanced Skills for the Insurance Broker and Agent: C131 Exam
"Advanced Skills for the Insurance Broker and Agent", also known as C131 exam, is a IIC Certification. With the complete collection of questions and answers, PrepAwayPDF has assembled to take you through 79 Q&As to your C131 Exam preparation. In the C131 exam resources, you will cover every field and category in Chartered Insurance Professional (CIP) Certification helping to ready you for your successful IIC Certification.
- Exam Code: C131
- Exam Name: Advanced Skills for the Insurance Broker and Agent
- Certification Provider: IIC
- Corresponding Certification: Chartered Insurance Professional (CIP)
- Updated: Oct 07, 2026
- No. of Questions: 79 Questions & Answers with Testing Engine
- Download Limit: Unlimited
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IIC C131 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Specialized Insurance Lines | - Manufacturers, distributors, freight forwarders - Crime and bonds - Builders risk insurance - Contractors insurance - Automobile insurance |
| Topic 2: Liability Insurance | - Commercial and general liability concepts |
| Topic 3: Property Insurance Coverages | - Property coverages fundamentals |
| Topic 4: Risk Management | - Selecting risk techniques - Monitoring and modifying risk management plans - Analyzing risk exposures - Insurance in a risk management plan |
IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:
For which prospective client should a broker conduct further risk analysis?
- A. An independent adjuster, who requires errors and omissions coverage
- B. A retail store owner, who only has the one potential source of profit
- C. A small business owner requesting an insurance package identical to the one she currently has
- D. A hardware store owner, who also delivers and assembles closets himself
Correct Answer: D 🗳️
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A company that owns several large coal mines is sent a letter of notification from its insurer, stating that policy coverage will be more restrictive going forward, particularly regarding pollution. Why would the coverage become more restrictive?
- A. Reduction in mandatory arbitration
- B. Changes in the law
- C. Decrease in remediation expenses
- D. Insurer competition
Correct Answer: B 🗳️
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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
Correct Answer: A 🗳️
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In risk management, how can a risk be transferred?
- A. By using contracts
- B. By eliminating the risk
- C. By self-insuring
- D. By reducing the risk through loss prevention
Correct Answer: A 🗳️
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What is governed by the Personal Information Protection and Electronic Documents Act (PIPEDA)?
- A. The consent requirement when a prospective employer is asking the candidate for a list of references and previous work history
- B. The consent requirement when the insurer requests an applicant's motor vehicle record
- C. The use of corporate governance information
- D. The types of software that can be used in data mining
Correct Answer: B 🗳️
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