IIC Essential Skills for the Insurance Broker and Agent C130 Prüfungsfragen mit Lösungen:

1. Insurance is based on the existence of which factor?

A) Risk
B) Tortfeasors
C) Absolute liability
D) Premium

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

3. When does a minimum retained premium apply to a policy?

A) When the insured cancels the policy midterm
B) When the policy has been voided for misrepresentation
C) When the insured moves the policy at renewal to another insurer
D) When the insurer cancels the policy at any time

4. A commercial general liability policy has an aggregate limit of $1,000,000. During the current term, the insurer has already paid for three liability claims: one for $100,000, a second for $500,000, and a third for
$300,000. How much will the insurer pay if a new claim of $300,000 is submitted?

A) $100,000
B) $1,000,000
C) $0
D) $300,000

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

A) The dwelling's owner who is responsible for the tenant's actions
B) The tenant who negligently caused the fire
C) The insurer that issued the homeowners policy
D) The insurer that issued the tenant's legal liability policy

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