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Updated: Oct 05, 2026
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IIC C131 Exam Overview:
| Certification Vendor: | Insurance Institute of Canada (IIC) |
|---|---|
| Exam Name: | Advanced Skills for the Insurance Broker and Agent |
| Exam Number: | C131 |
| Exam Duration: | 120 minutes |
| Available Languages: | English |
| Exam Price: | CAD 250–320 (plus tax) |
| Exam Format: | Multiple-choice, Computer-based, Scenario-based questions |
| Passing Score: | 60% |
| Real Exam Qty: | 100 |
| Related Certifications: | Level 2 Insurance Broker Licence CIP |
| Certificate Validity Period: | 3 years |
| Recommended Training: | IIC E-Learning Portal C131 Official Study Materials |
| Exam Registration: | IIC Official Registration |
| Sample Questions: | IIC C131 Sample Questions |
| Exam Way: | Virtually proctored online or in-person at authorized test centres |
| Pre Condition: | Recommended completion of C130: Essential Skills for the Insurance Broker and Agent |
| Official Syllabus URL: | https://www.insuranceinstitute.ca/en/Courses/CIP/C131 |
IIC C131 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Monitoring and Modifying Risk Plans | 5% | |
| Commercial Property Coverages | 15% | - Policy Wordings and Clauses - Business Interruption Insurance |
| Insuring Manufacturers & Distributors | 15% | |
| Commercial Liability Coverages | 15% | - General Liability - Errors and Omissions |
| Introduction to Commercial Insurance | 10% | |
| Risk Management Principles | 15% | - Selecting Risk Management Techniques - Developing Risk Management Plans - Analyzing Risk Exposures |
| Specialty Lines: Auto, Crime, and Surety Bonds | 10% | |
| Insuring Contractors & Construction Risks | 15% | - Contractors' Exposures - Builders Risk Insurance |
IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:
Jeff, an intermediary who specializes in complex industrial risks, is reviewing a new request for insurance.
The client is a major construction company who is building a bridge, and wants insurance from end to end of the construction process, including property, liability, and other specialty coverages. From the preliminary information received on the new risk, Jeff understands that the risk CANNOT be placed with just one insurer.
Identify and discuss TWO different coverage options that Jeff can use to arrange coverage for this risk.
Correct Answer:
see the Explanation for Detailed Solution.
Explanation:
Jeff can use a subscription placement and a layered placement . A subscription placement allows several insurers to participate on the same policy. One insurer usually acts as the lead market and sets the main wording, pricing, conditions, and claims-handling approach. Other insurers then subscribe for agreed percentages of the risk. This works well for a bridge project because the total values, construction hazards, liability exposures, and possible loss severity may be too large for one insurer's capacity.
Jeff can also arrange a layered insurance program . In this structure, one insurer provides the primary layer up to a specific limit, and other insurers provide excess layers above that amount. For example, one insurer may cover the first layer of loss, while additional insurers cover higher layers if the loss exceeds the primary limit. This is common for major construction and infrastructure projects where high limits are required.
The project may also require builders risk/course of construction, wrap-up liability, equipment, delay in start- up, environmental, and specialty coverages. The key is that Jeff must spread the risk among insurers while ensuring the coverage works together without dangerous gaps. Course topic reference: Builders Risk; Contractors; Complex Industrial Risks; Subscription Insurance; Layered Insurance Programs .
How do privacy laws impact brokers?
- A. Implied permission is given when a potential client asks for a quote.
- B. Third parties must submit notarized written requests for the broker to release the insured's claims information.
- C. Provincial privacy legislation follows the same rules and regulations as federal privacy legislation.
- D. Brokers may be held accountable for third parties' duty to provide appropriate privacy protection to clients.
Correct Answer: D 🗳️
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In risk management, how can a risk be transferred?
- A. By using contracts
- B. By eliminating the risk
- C. By reducing the risk through loss prevention
- D. By self-insuring
Correct Answer: A 🗳️
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How is the premium for a garage policy computed on a monthly average basis?
- A. Allows the insured to file quarterly reports detailing the actual monthly exposure
- B. Permits the charging of an advance premium that is 75 percent of the annual premium
- C. Provides an adjustment at year end after charging a 100 percent advance premium
- D. Requires that the insurer refund the insured if the total adjusted premium is greater than the advance premium
Correct Answer: C 🗳️
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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. Her policy had not earned sufficient premium at the time of the loss
- D. She had chosen named perils coverage
Correct Answer: D 🗳️
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