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IIC C130 Exam Overview:
| Certification Vendor: | Insurance Institute of Canada (IIC) |
|---|---|
| Exam Name: | Essential Skills for the Insurance Broker and Agent |
| Exam Number: | C130 |
| Certificate Validity Period: | Lifetime designation credit once passed (no expiry for course credit) |
| Exam Price: | Approximately CAD $1,200–$1,205 (course + exam bundle varies by institute/region) |
| Related Certifications: | Chartered Insurance Professional (CIP) |
| Available Languages: | English |
| Passing Score: | Not publicly standardized (varies by sitting) |
| Exam Duration: | 180 minutes |
| Exam Format: | Multiple Choice, Short Answer, Case-Based Questions |
| Real Exam Qty: | Approximately 70–80 (varies by exam session) |
| Recommended Training: | CIP C130 Course (Official Training) |
| Exam Registration: | Insurance Institute of Canada CIP Program |
| Sample Questions: | IIC C130 Sample Questions |
| Exam Way: | Online proctored examination (delivered through Insurance Institute of Canada partner institutions) |
| Pre Condition: | No formal prerequisite required, but typically taken early in CIP pathway or after foundational insurance licensing knowledge. |
| Official Syllabus URL: | https://www.insuranceinstitute.ca |
IIC C130 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Insurance Distribution Systems | - Agent vs broker roles and responsibilities - Distribution models (independent agency, brokerage, direct writers) |
| Topic 2: Broker and Agent Practice Skills | - Client communication and advisory skills - Policy placement and insurer interaction |
| Topic 3: Insurance Fundamentals and Risk Concepts | - Nature of risk (pure vs speculative risk) - Insurance principles and contract basics |
| Topic 4: Insurance Products and Markets | - Commercial and personal lines overview - Property and casualty insurance basics |
| Topic 5: Legal and Regulatory Framework | - Ethical standards and professional conduct - Law of agency and fiduciary duty |
IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
What do statutory conditions and general conditions have in common?
- A. Are countersigned by an executive of the insured
- B. Designed to protect the insured
- C. Apply to all types of insurance
- D. Considered fine print wordings
Correct Answer: D 🗳️
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An insured reports a loss to their broker and is subsequently contacted by an adjuster to discuss the claim. A few days later, the insured calls their broker to ask a question about their claim settlement. What is the best course of action for the broker to take?
- A. Connect the insured with their loss adjuster to discuss the claim
- B. Review the policy wordings with the insured
- C. Provide expected settlement values to the insured
- D. Advise the insured to contact the ombudsperson
Correct Answer: A 🗳️
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A tenant's negligence causes a fire in the dwelling they rent. Typically, who is initially responsible for paying the damage?
- A. The insurer that issued the homeowners policy
- B. The tenant who negligently caused the fire
- C. The insurer that issued the tenant's legal liability policy
- D. The dwelling's owner who is responsible for the tenant's actions
Correct Answer: A 🗳️
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John, a broker, has binding authority for comprehensive homeowners policies up to $200,000. On Saturday morning, a potential client calls John and advises that she is at the lawyer's office signing the purchasing documents for a $500,000 home and requires comprehensive homeowners coverage immediately. What action should John take?
- A. Provide coverage on a named-perils basis
- B. State that he will try to arrange coverage with the insurer on Monday morning
- C. Inspect the home and, if the risk is acceptable, issue a comprehensive homeowners policy with a limit of $500,000
- D. Issue a cover note providing a comprehensive homeowners policy with a policy limit of $500,000
Correct Answer: B 🗳️
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It is critical that an intermediary is always mindful of privacy legislation during which method of sourcing clients?
- A. Online marketing
- B. Tracking of expiry dates
- C. Upselling
- D. Walk-ins
Correct Answer: A 🗳️
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