An insured has a commercial property policy with a $50,000 deductible and a policy limit of $100,000. If the insured suffers a loss of $50,000, how much will the insurer pay?

• A.$0
• B.$25,000
• C.$50,000
• D.$100,000

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For which prospective client should a broker conduct further risk analysis?

• A.A hardware store owner, who also delivers and assembles closets himself
• B.A retail store owner, who only has the one potential source of profit
• C.A small business owner requesting an insurance package identical to the one she currently has
• D.An independent adjuster, who requires errors and omissions coverage

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How do privacy laws impact brokers?

• A.Implied permission is given when a potential client asks for a quote.
• B.Provincial privacy legislation follows the same rules and regulations as federal privacy legislation.
• C.Brokers may be held accountable for third parties' duty to provide appropriate privacy protection to clients.
• D.Third parties must submit notarized written requests for the broker to release the insured's claims information.

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An employee of a self-storage facility is careless and causes a fire resulting in damages to the contents in three rental storage units. The renters of the units could seek reimbursement under which policy?

• A.Rental insurance policy
• B.Commercial property floater policy
• C.Warehouseman's legal liability policy
• D.Contingent business interruption policy

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Two agents are discussing artificial intelligence being used more frequently in Canadian industries. They are enthusiastic to write these risks on behalf of their employer, who has relaxed its guidelines on niche risks.
Which type of market are they likely in?

• A.Soft market
• B.Hard market
• C.Weak market
• D.Strong market

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