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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 |
| Available Languages: | English |
| Real Exam Qty: | Approximately 70–80 (varies by exam session) |
| Exam Price: | Approximately CAD $1,200–$1,205 (course + exam bundle varies by institute/region) |
| Related Certifications: | Chartered Insurance Professional (CIP) |
| Exam Duration: | 180 minutes |
| Passing Score: | Not publicly standardized (varies by sitting) |
| Exam Format: | Multiple Choice, Short Answer, Case-Based Questions |
| Certificate Validity Period: | Lifetime designation credit once passed (no expiry for course credit) |
| 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 |
|---|---|
| Insurance Products and Markets | - Commercial and personal lines overview - Property and casualty insurance basics |
| Legal and Regulatory Framework | - Ethical standards and professional conduct - Law of agency and fiduciary duty |
| Insurance Distribution Systems | - Distribution models (independent agency, brokerage, direct writers) - Agent vs broker roles and responsibilities |
| Insurance Fundamentals and Risk Concepts | - Nature of risk (pure vs speculative risk) - Insurance principles and contract basics |
| Broker and Agent Practice Skills | - Policy placement and insurer interaction - Client communication and advisory skills |
IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
1. Which article is not insured for off-premises coverage unless it is scheduled?
A) Musical instrument
B) Firearm
C) Business computer
D) Silverware
2. What should a broker do when selecting coverage for a client?
A) Ensure that only standard policy wordings are used
B) Overinsure the client to protect the broker from an errors and omissions claim
C) Place the policy with the insurer that has the most legally-worded policies
D) Compare wordings based on an analysis of the client's needs
3. Briefly discuss the liability exposures that arise from the ownership of animals.
4. What should be considered when adding the increased cost-demolition or construction endorsement to an insurance policy?
A) Since the entire building has to be demolished to bring it up to code after a loss, the coverage increases the amount of insurance.
B) It covers the requirement to bring existing structures up to code, even when the building remains unchanged.
C) Municipal building codes often require that owners update their property every 10 years.
D) The older the building, the more likely it is to deviate from current building codes.
5. A client who wants coverage for a risk, independent from the risk a broker previously arranged coverage for, is usually required to submit which document?
A) Formal written application
B) Statement of change request
C) Broker of record letter
D) Insured's authorization application
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: D | Question # 3 Answer: Only visible for members | Question # 4 Answer: D | Question # 5 Answer: A |
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