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IIC Essential Skills for the Insurance Broker and Agent Sample Questions:

1. How much would Company B be required to pay for an insured loss of $200,000 if all three insurers' wordings have a contribution clause?
Insurer | Amount Insured
Company A | $300,000
Company B | $80,000
Company C | $20,000

A) $40,000
B) $80,000
C) $25,000
D) $20,000


2. What do statutory conditions and general conditions have in common?

A) Apply to all types of insurance
B) Are countersigned by an executive of the insured
C) Considered fine print wordings
D) Designed to protect the insured


3. Which statement describes the reimbursement of voluntary medical payments under a personal liability policy?

A) The insured and the third party must live in the same household for there to be payment.
B) The injured party is required to prove that their injuries occurred as a result of negligence.
C) The insured is required to provide written proof and medical documentation.
D) The third party will be reimbursed solely for direct damage to their property.


4. Priya, a broker, receives a call from a prospective client, Umberto. Priya handles Umberto's inquiry and at the end of the call asks how he heard about her brokerage. He states that his manager at work has their home and auto coverage placed with Priya's brokerage. Which prospecting method would Priya check off on her questionnaire?

A) Upselling
B) Marketing
C) Cross-selling
D) Cold calling


5. Which item would be insured under a personal articles floater?

A) Antique table
B) Leather sofa
C) Stamp collection
D) Coffee machine


Solutions:

Question # 1
Answer: A
Question # 2
Answer: C
Question # 3
Answer: C
Question # 4
Answer: B
Question # 5
Answer: C

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