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| Section | Weight | Objectives |
|---|---|---|
| Communication and Service Skills | 8% | - Policy changes and endorsements - Record keeping - Client communication |
| Sales and Client Needs | 10% | - Insurance solutions - Client consultation - Risk identification |
| Property Insurance Exposures | 10% | - Exposures and perils - Small commercial property risks - Personal property risks |
| The Application Process | 10% | - Duty of disclosure - Completing applications - Underwriting considerations |
| Liability Insurance | 12% | - Legal liability concepts - Commercial general liability - Personal liability coverages |
| Automobile Insurance | 10% | - Provincial variations - Rating and policy issues - Mandatory and optional coverages |
| From Quote to Policy | 10% | - Quotation and binding authority - Policy structure and components - Policy issuance and delivery |
| Property Insurance Wordings | 12% | - Common policy forms - Valuation methods - Coverages and exclusions |
| Claims Handling | 8% | - Settlement and subrogation - Claim reporting process - Broker's role in claims |
| Insurance and the Intermediary | 10% | - Roles of brokers and agents - Licensing and regulation - Legal duties and ethics |
What is an agent's consideration when assessing a potential client and the client's attitude towards risk?
Correct Answer: C 🗳️
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Why do insurers prefer not to issue personal-lines forms for a dwelling that is owned by a numbered company and used for the company principals to reside in?
Correct Answer: A 🗳️
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Jim owns a metal factory. Which question should Jim's broker ask to best understand the commercial occupancy of the company?
Correct Answer: B 🗳️
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A building valued at $500,000 is insured under a homeowners policy with a guaranteed replacement cost provision. If the building suffers a total fire loss, under what circumstances would the insurer pay the full cost of rebuilding, even if it cost $725,000?
Correct Answer: C 🗳️
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What should a broker do when selecting coverage for a client?
Correct Answer: B 🗳️
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