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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: Jul 03, 2026

Q & A: 79 Questions and Answers

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

1. 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) Business interruption due to data breach
B) Crisis-management services due to theft of securities
C) Computer fraud
D) Online extortion


2. Which clause is a refusal to accept liability for damages that might occur?

A) Risk retainer
B) Hold harmless agreement
C) Indemnity provision
D) Disclaimer


3. A broker recommends that their commercial client repair the sprinkler system in their factory. Which risk management technique does the broker's suggestion fall under?

A) Risk reduction
B) Risk transfer
C) Avoidance
D) Diversification


4. What is insurer solvency?

A) An agreement between multiple insurance companies
B) The amount of claims an insurer has closed in the past year
C) An obligation to meet a rating company's opinion
D) The ability of an insurer to meet its financial obligations


5. Which phrase will best help an intermediary close a sale, after presenting the proposal to a client?

A) "Do you have any objections?"
B) "How does our proposal compare to your current coverage?"
C) "Would you like to insure with our company?"
D) "Which day would you like the payment plan to start?"


Solutions:

Question # 1
Answer: D
Question # 2
Answer: D
Question # 3
Answer: A
Question # 4
Answer: D
Question # 5
Answer: D

C131 Related Exams
C11 - Principles and Practice of Insurance
C130 - Essential Skills for the Insurance Broker and Agent
Related Certifications
Chartered Insurance Professional (CIP)
RIBO Insurance Broker
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