C131 questions and answers are written to the highest standards of technical accuracy by our professional experts. With our C131 free demo, you can check out the questions quality, validity of our IIC practice torrent before you choose to buy it. You just need 20-30 hours to study with our C131 practice dumps, and you can attend the actual test and successfully pass. The C131 vce torrent will be the best and valuable study tool for your preparation.
| Section | Objectives |
|---|---|
| Topic 1: Liability Insurance | - Commercial and general liability concepts |
| Topic 2: Risk Management | - Monitoring and modifying risk management plans - Selecting risk techniques - Analyzing risk exposures - Insurance in a risk management plan |
| Topic 3: Specialized Insurance Lines | - Crime and bonds - Contractors insurance - Automobile insurance - Manufacturers, distributors, freight forwarders - Builders risk insurance |
| Topic 4: Property Insurance Coverages | - Property coverages fundamentals |
Today is the right time to learn new and in demands skills. You can do this easily, just get registered in certification exam and start preparation with Advanced Skills for the Insurance Broker and Agent C131 exam dumps. The Advanced Skills for the Insurance Broker and Agent C131 pdf questions and practice test are ready for download. Just pay the affordable C131 authentic dumps charges and click on the download button. Get the C131 latest dumps and start preparing today.
NEW QUESTION # 22
Which document contains a rough outline from bidders of work to be completed, with details on how they will carry out this work?
Answer: B
Explanation:
The correct answer is C. Request for a proposal . A request for a proposal, commonly called an RFP, is used when an organization wants bidders or service providers to submit a proposal explaining how they would perform certain work. In a commercial insurance context, an RFP may be used by larger or more sophisticated clients when selecting a broker, insurer, consultant, or service provider. The proposal typically outlines the bidder's understanding of the client's needs, the work to be completed, the method of performing the work, qualifications, pricing, timelines, service standards, and deliverables. A lease agreement is a contract governing occupancy or use of property. A certificate of insurance is evidence that insurance coverage exists, but it does not describe how bidders will perform work. A broker's letter of authority authorizes a broker to act for a client or directs insurers to deal with that broker, but it is not a proposal document. The phrase
"rough outline from bidders" is the clue that the document is an RFP response process. Course topic reference: Introduction to Commercial Insurance; Client Acquisition; Proposals; Request for Proposal; Broker Selection Process .
NEW QUESTION # 23
Insurance premiums on automobile fleet policies are based on which factor?
Answer: D
Explanation:
The correct answer is A. Overall experience of all drivers . Fleet automobile insurance is rated differently from ordinary individual automobile insurance. In a personal or individually rated commercial auto policy, the insurer may focus heavily on the driving record of a specific driver, the vehicle's use, location, and vehicle characteristics. In a fleet policy, however, the underwriting approach looks at the entire group of vehicles and drivers as a collective exposure. The insurer is concerned with the overall claims experience, loss frequency, loss severity, driver controls, vehicle use, fleet size, safety procedures, maintenance practices, and management of the fleet as a whole. The individual driving records may still be reviewed as part of underwriting, but the premium basis is not simply the record of one driver. Likewise, original vehicle purchase price and the mechanical condition of one vehicle do not determine the fleet premium by themselves. The key underwriting logic is that a fleet produces a pattern of risk over time. Therefore, the insurer prices the policy according to the overall experience and performance of the entire fleet operation.
Course topic reference: Automobile, Crime, and Bonds; Commercial Automobile Insurance; Fleet Rating; Underwriting Factors .
NEW QUESTION # 24
What coverage is generally provided by an accounts receivable floater?
Answer: B
Explanation:
The correct answer is C. Loss arising out of credit card receipts being destroyed by fire . An accounts receivable floater is a commercial property coverage designed to protect the insured when records of amounts owed by customers are damaged or destroyed by an insured peril. If accounts receivable records, invoices, charge slips, or credit card receipts are destroyed, the insured may be unable to collect amounts due. The floater may cover sums that cannot be collected, interest on loans required to offset impaired collections, collection expenses, and costs to re-establish records, depending on wording. It does not insure ordinary bad debts, because those are credit risks rather than insured property losses. It also does not cover bookkeeping errors, since errors in accounting are operational or professional mistakes. Maintaining duplicate records offsite is a risk-control method, not a covered loss. Fire destroying credit card receipts is exactly the type of event that can impair the insured's ability to prove and collect receivables. Course topic reference: Property Coverages; Commercial Property Floaters; Accounts Receivable Floater; Records and Collection Losses
.
NEW QUESTION # 25
A building contractor has been hired to perform renovations and additions to a run-down office building. The contractor is aware of the typical exposures that can arise from this operation and has adequate insurance in place, but needs to hire additional staff. He contacts his broker Andrew to discuss the benefit of having risk management measures in place during the contractor's employee selection process. Briefly describe the advice Andrew would provide.
Answer:
Explanation:
see the Explanation for Detailed Solution.
Explanation:
Andrew should explain that hiring is a risk management issue because employees directly affect job-site safety, workmanship quality, liability exposure, and claims frequency. Renovating a run-down office building creates hazards such as structural instability, demolition work, tools and equipment use, electrical or plumbing work, falls, damage to existing property, and injury to workers or third parties. Poor hiring can increase all of these risks.
Andrew should advise the contractor to use a structured employee selection process. This should include verifying trade qualifications, licences, safety training, employment history, references, and experience with similar renovation projects. If employees will drive company vehicles, motor vehicle record checks should be considered. If employees will access client premises, tools, materials, or secure areas, background checks may be appropriate where legally permitted.
The contractor should also use written job descriptions, documented safety policies, orientation training, supervision, probationary review, and records of training. These controls reduce the chance of accidents, theft, defective work, and liability claims. They also show insurers that the contractor is professionally managed.
Course topic reference: Risk Management; Contractors; Employee Selection; Loss Prevention; Construction Safety Controls .
NEW QUESTION # 26
Which person would be hired by another contractor, because of her experience in a particular trade, to complete a portion of a larger project?
Answer: B
NEW QUESTION # 27
......
You will have the chance to renew your knowledge while getting trustworthy proof of your expertise with the IIC C131 exam. After passing the IIC C131 certification exam, you can take advantage of a number of extra benefits. The IIC C131 Certification test, however, is a valuable and difficult credential. But with the correct concentration, commitment, and C131 exam preparation, you could ace this test with ease.
C131 Dumps Questions: https://www.testsimulate.com/C131-study-materials.html