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IIC Advanced Skills for the Insurance Broker and Agent Sample Questions:
1. Graham works at a brokerage where responsibilities are divided among the staff. His daily work consists of analyzing quotations and creating client proposals. What is his role?
A) Adjuster
B) Underwriter
C) Producer
D) Marketer
2. Insurance premiums on automobile fleet policies are based on which factor?
A) Original purchase price of all vehicles in the fleet
B) Overall experience of all drivers
C) Mechanical condition of a vehicle from one particular fleet
D) Driving record of the individual drivers
3. A commercial insurance agent receives a request for commercial automobile insurance from a client who transports radioactive materials. When reviewing the Autoplus report, the agent notices that the client frequently changes insurance providers, but there is no gap in insurance and the client only has minor claims in their history. What will the agent likely do, and why?
A) Decline the risk, as it will not be profitable
B) Accept the risk, as the agent's insurer writes the business
C) Accept the risk with no deductible, as this will offset the risk's loss ratio
D) Decline the risk, as the motor vehicle record should have been included with the application
4. Which person would be hired by another contractor, because of her experience in a particular trade, to complete a portion of a larger project?
A) Inspector
B) Subcontractor
C) Project manager
D) Consultant
5. How is the premium for a garage policy computed on a monthly average basis?
A) Provides an adjustment at year end after charging a 100 percent advance premium
B) Requires that the insurer refund the insured if the total adjusted premium is greater than the advance premium
C) Permits the charging of an advance premium that is 75 percent of the annual premium
D) Allows the insured to file quarterly reports detailing the actual monthly exposure
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: B | Question # 4 Answer: B | Question # 5 Answer: A |




