Weekend Sale Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: merry71

Free Essential Skills for the Insurance Broker and Agent Practice Questions

Exams4sure Dumps

Exam style questions across every C130 domain

Last Update 3 days ago
Total Questions : 77

Start with our free C130 practice questions, carefully crafted to mirror the domains, phrasing, and difficulty of the real Chartered Insurance Professional (CIP) exam. Each C130 exam question comes with a detailed rationale that explains not just which answer is correct but why the others fall short. That's how concepts stick. Use the free set to benchmark yourself: identify your IIC weak domains, see where you're losing marks, and build a focused study plan in minutes.

C130 PDF

C130 PDF (Printable)
$46.5
$154.99

C130 Testing Engine

C130 PDF (Printable)
$51
$169.99

C130 PDF + Testing Engine

C130 PDF (Printable)
$63.9
$212.99
Question # 1

Insurance is based on the existence of which factor?

Options:

A.  

Risk

B.  

Tortfeasors

C.  

Premium

D.  

Absolute liability

Discussion 0
Question # 2

A building valued at $500,000 is insured under a homeowners policy with a guaranteed replacement cost provision. If the building suffers a total fire loss, under what circumstances would the insurer pay the full cost of rebuilding, even if it cost $725,000?

Options:

A.  

The amount insured was 100 percent of the replacement cost at last valuation.

B.  

The insured notified the insurer 115 days after the building improvements have been completed.

C.  

The increased cost of replacement was due to a change in the potential occupancy of the building.

D.  

The amount of insurance under the policy was 85 percent of the replacement cost at last valuation.

Discussion 0
Question # 3

Which document releases the insurer from further obligations for a loss after payment is made?

Options:

A.  

Proof of loss

B.  

Sworn statement

C.  

Non-waiver agreement

D.  

Reservation of rights letter

Discussion 0
Question # 4

Jim owns a metal factory. Which question should Jim’s broker ask to best understand the commercial occupancy of the company?

Options:

A.  

What is the total number of your staff?

B.  

How is your factory protected against fire?

C.  

What does a typical day look like in your factory?

D.  

Is your factory left unattended for long periods of time?

Discussion 0
Question # 5

Briefly discuss the liability exposures that arise from the ownership of animals.

Options:

Discussion 0
Question # 6

A tenant’s negligence causes a fire in the dwelling they rent. Typically, who is initially responsible for paying the damage?

Options:

A.  

The tenant who negligently caused the fire

B.  

The insurer that issued the homeowners policy

C.  

The insurer that issued the tenant’s legal liability policy

D.  

The dwelling’s owner who is responsible for the tenant’s actions

Discussion 0
Question # 7

Marsha, a broker, receives a call from a frustrated client regarding their increasing premium. How should she explain the increase to the client?

Options:

A.  

Premiums are determined by statistical predictions of past losses and they increase during a soft market.

B.  

Premiums are determined by statistical predictions of past losses and they increase during a hard market.

C.  

Premiums are determined by statistical predictions of future losses and they increase during a soft market.

D.  

Premiums are determined by statistical predictions of future losses and they increase during a hard market.

Discussion 0
Question # 8

Which homeowners package policy provides all-perils coverage on the building and named-perils coverage on the contents?

Options:

A.  

Basic

B.  

Broad

C.  

Standard

D.  

Comprehensive

Discussion 0
Question # 9

What is included in an experience letter from an insurer or broker?

Options:

A.  

Amount of the last insurance premium paid

B.  

Period during which the individual was insured

C.  

Name of each driver and applicable licence class

D.  

List of all vehicles owned by the insured over the past six years

Discussion 0
Question # 10

What is the primary way an agent and an exclusive agent differ?

Options:

A.  

In the way they evaluate a client

B.  

In their authority to handle claims

C.  

In the way they advise clients of policy coverages

D.  

In the number of insurance companies they can represent

Discussion 0

Free Exams Sample Questions