IIC C131 : Advanced Skills for the Insurance Broker and Agent

C131 real exams

Exam Code: C131

Exam Name: Advanced Skills for the Insurance Broker and Agent

Updated: Oct 04, 2026

Q & A: 79 Questions and Answers

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IIC C131 Exam Syllabus Topics:

SectionWeightObjectives
Topic 1: Monitoring and Modifying Risk Plans5%
Topic 2: Introduction to Commercial Insurance10%
Topic 3: Commercial Liability Coverages15%- General Liability
- Errors and Omissions
Topic 4: Insuring Manufacturers & Distributors15%
Topic 5: Specialty Lines: Auto, Crime, and Surety Bonds10%
Topic 6: Insuring Contractors & Construction Risks15%- Contractors' Exposures
- Builders Risk Insurance
Topic 7: Risk Management Principles15%- Developing Risk Management Plans
- Analyzing Risk Exposures
- Selecting Risk Management Techniques
Topic 8: Commercial Property Coverages15%- Business Interruption Insurance
- Policy Wordings and Clauses

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

Question #1

The owner of a successful chain of spas wants to ensure her liability coverage is adequate. She has read about several lawsuits regarding slip and falls within spas, and she has been fielding questions via social media about health and safety practices from her clients. Her broker advises she has a broad umbrella policy over and above her primary policy. What coverage does the umbrella policy include?

  • A. Money and securities
  • B. Advertising liability
  • C. Workers' compensation
  • D. Accidental death and dismemberment
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #2

A commercial insurance agent receives a request for commercial automobile insurance from a client who transports radioactive materials. When reviewing the Autoplus report, the agent notices that the client frequently changes insurance providers, but there is no gap in insurance and the client only has minor claims in their history. What will the agent likely do, and why?

  • A. Decline the risk, as the motor vehicle record should have been included with the application
  • B. Accept the risk, as the agent's insurer writes the business
  • C. Decline the risk, as it will not be profitable
  • D. Accept the risk with no deductible, as this will offset the risk's loss ratio
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #3

A broker is trying to convince his large accountancy client to purchase cyber risk insurance. The firm's CEO believes the controls in place managed by a third-party information technology provider are sufficient. The broker provides the CEO with a list of claims that will only be covered if cyber risk insurance is carried.
Which type of claim appears on that list?

  • A. Computer fraud
  • B. Crisis-management services due to theft of securities
  • C. Business interruption due to data breach
  • D. Online extortion
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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Question #4

Which type of property loss is commonly covered under the commercial property broad form (CPBF)?

  • A. Loss of money and securities
  • B. Damage to a salesperson's samples
  • C. Damage to automobiles
  • D. Loss of inventory shortage
Reveal Solution  Discussion  0

Correct Answer: B  🗳️

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Question #5

How does a self-insured retention (SIR) differ from a deductible?

  • A. Does not affect the policy limit
  • B. Is a method of insuring risk
  • C. Does not encourage loss prevention measures
  • D. Applies to losses below a specific amount
Reveal Solution  Discussion  0

Correct Answer: D  🗳️

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