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IIC C131 Exam Syllabus Topics:

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

1. An employee of a self-storage facility is careless and causes a fire resulting in damages to the contents in three rental storage units. The renters of the units could seek reimbursement under which policy?

A) Commercial property floater policy
B) Contingent business interruption policy
C) Rental insurance policy
D) Warehouseman's legal liability policy

2. Why is bylaws insurance used?

A) To protect new buildings that comply with the latest building codes
B) To protect wooded lots in the country
C) To cover projects that can take years to complete
D) To cover vacant lots

3. An insured who owns a factory had a major loss. A pressure vessel ruptured due to a faulty safety valve, causing water escape, that resulted in significant water damage. The insured is covered by two insurance policies. Which policy will cover this loss?

A) The insured's CGL policy will pay the loss in full.
B) The insured's remediation policy will cover the loss.
C) The insured will select which policy to cover the loss.
D) The insured's EBI policy will pay the loss in full.

4. An individual who uses public transit rather than buying a car is managing their risk using which risk management technique?

A) Transferring risk
B) Separating risk
C) Avoiding risk
D) Retaining risk

5. Which person would be hired by another contractor, because of her experience in a particular trade, to complete a portion of a larger project?

A) Consultant
B) Project manager
C) Inspector
D) Subcontractor

Solutions: