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IIC Essential Skills for the Insurance Broker and Agent Sample Questions:
1. How many years of driving experience are newly licensed drivers generally credited for if they have completed an approved driver training course?
A) Two or three years
B) Four or five years
C) Three or four years
D) One or two years
2. Which action on the part of the insured would most likely result in a surcharge to the insurance policy?
A) Installation of a high-end home security system
B) Trade-in of an existing vehicle for an eco-friendly vehicle
C) Purchase of a new sports car for his teenage son to drive
D) Disclosure that his home has two mortgages
3. Which statement describes the reimbursement of voluntary medical payments under a personal liability policy?
A) The injured party is required to prove that their injuries occurred as a result of negligence.
B) The insured and the third party must live in the same household for there to be payment.
C) The insured is required to provide written proof and medical documentation.
D) The third party will be reimbursed solely for direct damage to their property.
4. Brenda's house is valued at $250,000. She has a policy coverage limit of $220,000 and an 80 percent coinsurance clause. What would be the payout if the insured suffers a loss of $150,000?
A) $120,000
B) $220,000
C) $150,000
D) $176,000
5. In insurance sales terminology, what is a lead?
A) An insurer with an underwriting policy that most closely aligns with a broker's requirements
B) A segment of existing clients who have similar insurance coverage needs
C) A member of a group of potential clients that fits the profile that has been determined as the marketing target
D) A broker who aims to meet their clients' needs with products
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: C | Question # 3 Answer: C | Question # 4 Answer: C | Question # 5 Answer: C |




