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IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:
1. How can a broker BEST investigate a roofing contractor's operations to identify liability exposures?
A) Read reviews on the contractor's website
B) Ask the client what type of claims they are worried about
C) Speak with past customers of the contractor
D) Ask the client to detail what a typical project involves
2. How do privacy laws impact brokers?
A) Provincial privacy legislation follows the same rules and regulations as federal privacy legislation.
B) Third parties must submit notarized written requests for the broker to release the insured's claims information.
C) Implied permission is given when a potential client asks for a quote.
D) Brokers may be held accountable for third parties' duty to provide appropriate privacy protection to clients.
3. A broker binds a property policy for a future date, and follows up for documentation. While reviewing documents the client sent, it is discovered that the property is actually used as a rooming house, and not a family home. Why does underwriting instruct that the policy be cancelled?
A) The use of the home is a material fact that the client should have disclosed.
B) The insurer already has too many rooming houses in their book of business.
C) The broker did not complete an in-person home inspection.
D) The policy cannot be bound without proof of how the home is used.
4. When a broker is focusing on a manufacturing facility's housekeeping regimen and safeguards for a prospect, what is he primarily trying to establish?
A) How large the facility is
B) Whether the prospect is a morale hazard
C) Whether the prospect is profitable
D) How many expenses the facility has
5. When should a broker recommend that a client amend their existing risk management plan?
A) When changing a manufacturing process
B) After financial statements are published
C) When hiring a new staff member
D) Annually at renewal
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: D | Question # 3 Answer: A | Question # 4 Answer: B | Question # 5 Answer: A |



