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Exam Code: C130 Vendor: IIC Name: Essential Skills for the Insurance Broker and Agent 77 Q&A with Explanation Last Update: Jul 2, 2026
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IIC C130 Last Week Results!

10

Customers Passed
IIC C130

86%

Average Score In Real
Exam At Testing Centre

89%

Questions came word by
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C130 Q&A's Detail

Exam Code:
C130
Total Questions:
77 Q&A's
Single Choice Questions:
70 Q&A's
Fill in the Blanks Questions:
7 Q&A's

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Essential Skills for the Insurance Broker and Agent Questions and Answers

Question 1

Brenda’s house is valued at $250,000. She has a policy coverage limit of $220,000 and an 80 percent coinsurance clause. What would be the payout if the insured suffers a loss of $150,000?

Options:

A.

$120,000

B.

$150,000

C.

$176,000

D.

$220,000

Question 2

Prominently included on some property insurance policies is the statement “This policy contains a clause that may limit the amount payable.” What clause is being referred to?

Options:

A.

Coinsurance clause

B.

Stacked limits clause

C.

Named exclusions clause

D.

Deferred payment clause

Question 3

Which statement about the expiry dates of binders is correct?

Options:

A.

Binders must include the statement “valid for one year.”

B.

The expiry date must automatically be 30 days from the effective date of the policy.

C.

An open expiry date should be used in case the delivery of the formal policy is delayed.

D.

To minimize the risk of overlooking an expiring binder, the expiry date should fall on a business day.

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