IIC Essential Skills for the Insurance Broker and Agent - C130 FREE EXAM DUMPS QUESTIONS & ANSWERS
Relay Cycle Shop has been non-operational for six months since an arsonist set fire to the building. The store is empty of all contents, and contractors continue to work onsite. The owner of the shop anticipates it will be able to reopen in four weeks. How would the shop traditionally be categorized by the insurer?
Correct Answer: B
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Regarding the duty of disclosure, what is required to comply with the principle of utmost good faith?
Correct Answer: A
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What type of insurance policy would a life lease holder require?
Correct Answer: A
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When brokers are self-regulated, which body enacts the licensing laws?
Correct Answer: A
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Why is the precedent-setting case Fine's Flowers Ltd. et al. v. General Accident Assurance Co. of Canada et al. significant?
Correct Answer: B
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Which article is not insured for off-premises coverage unless it is scheduled?
Correct Answer: D
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Which action on the part of the insured would most likely result in a surcharge to the insurance policy?
Correct Answer: A
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What is the primary way an agent and an exclusive agent differ?
Correct Answer: D
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