Advanced Skills for the Insurance Broker and Agent
Certification:
IIC
Free Question Number:
79
Publish Date:
Aug 18, 2026
# of views:
248
Rating
100%
Page: 1 / 16 Total 79 questions
Question 1
Which clause is a refusal to accept liability for damages that might occur?
Correct Answer: D
Explanation: (Only visible for DumpsDB members)
Question 2
How is the premium for a garage policy computed on a monthly average basis?
Correct Answer: A
Explanation: (Only visible for DumpsDB members)
Question 3
Which peril is commonly excluded under the commercial property broad form (CPBF)?
Correct Answer: D
Explanation: (Only visible for DumpsDB members)
Question 4
What is the intent of a cross liability clause found in a commercial general liability (CGL) policy?
Correct Answer: B
Explanation: (Only visible for DumpsDB members)
Question 5
Charlotte, a broker, is meeting a potential client in person, and hopes to close the new business account. The potential client is a contractor, a line of work which Charlotte also has past experience in. a) Explain how Charlotte can present herself professionally in the meeting to establish credibility with the client. b) Explain the value of establishing credibility with the client and the value Charlotte brings to the interaction.
Correct Answer:
see the Explanation for Detailed Solution. Explanation: Charlotte should present herself as prepared, professional, and commercially knowledgeable. Before the meeting, she should review the contractor's operations, likely exposures, previous insurance arrangements, and common contractor risks such as tools, equipment, subcontractors, commercial auto, job-site liability, wrap-up liability, bonding, and completed operations. In the meeting, she should arrive on time, dress appropriately, speak clearly, listen carefully, and ask structured questions about the contractor's work. Because she has past contractor experience, she should use that knowledge to ask practical questions, but she must avoid sounding overconfident or assuming every contractor operates the same way. Credibility matters because commercial clients are more likely to disclose accurate information when they believe the broker understands their business. For a contractor, poor disclosure can create serious coverage gaps. Charlotte adds value by translating contractor operations into insurance exposures and explaining how the insurance program should respond. Her value is not just obtaining a quote; it is identifying risk, advising on coverage, helping with risk control, and protecting the client from uninsured loss. Course topic reference: Introduction to Commercial Insurance; Analyzing Risk Exposures; Contractors; Broker Professionalism and Client Credibility .
