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, BraindumpsPass 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.

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  • Exam Code: C131
  • Exam Name: Advanced Skills for the Insurance Broker and Agent
  • Certification Provider: IIC
  • Corresponding Certification: Chartered Insurance Professional (CIP)
  • Updated: Oct 09, 2026
  • No. of Questions: 79 Questions & Answers with Testing Engine
  • Download Limit: Unlimited

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IIC C131 Exam Syllabus Topics:

SectionObjectives
Specialized Insurance Lines- Automobile insurance
- Contractors insurance
- Builders risk insurance
- Crime and bonds
- Manufacturers, distributors, freight forwarders
Liability Insurance- Commercial and general liability concepts
Property Insurance Coverages- Property coverages fundamentals
Risk Management- Insurance in a risk management plan
- Monitoring and modifying risk management plans
- Selecting risk techniques
- Analyzing risk exposures

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

An insured has a commercial property policy with a $50,000 deductible and a policy limit of $100,000. If the insured suffers a loss of $50,000, how much will the insurer pay?

  • A. $0
  • B. $50,000
  • C. $25,000
  • D. $100,000
Reveal Solution  Discussion  0

Correct Answer: A  🗳️

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Angie is frustrated with her insurer as she recently had a mysterious disappearance claim that was denied under her commercial property policy. Why was Angie likely denied her claim?

  • A. Her appraisal was only received in the last three months
  • B. She had a similar claim in a previous policy term
  • C. She had chosen named perils coverage
  • D. Her policy had not earned sufficient premium at the time of the loss
Reveal Solution  Discussion  0

Correct Answer: C  🗳️

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What coverage is generally provided by an accounts receivable floater?

  • A. Loss arising out of bookkeeping errors
  • B. Loss arising out of credit card receipts being destroyed by fire
  • C. Loss arising out of maintaining duplicate records offsite
  • D. Loss arising as a result of bad debts
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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A group of stockholders is bringing a class action lawsuit, stating that the finances of the corporation in which they hold stock are being mismanaged. Which policy would likely respond to such a lawsuit?

  • A. Fiduciary obligation
  • B. Directors and officers liability
  • C. Employee dishonesty
  • D. Shareholders equity liability
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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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. Decrease in remediation expenses
  • B. Changes in the law
  • C. Reduction in mandatory arbitration
  • D. Insurer competition
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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