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Package deal for CAIB Exam Questions with 100% Correct Answers | Verified | Updated 2024
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[Show more]CAIB 1 Practice Exam Questios with 100% 
Correct Answers 
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - answerd. An exchange of something of value 
A stock company is... 
a. A company that invests in...
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Add to cartCAIB 1 Practice Exam Questios with 100% 
Correct Answers 
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - answerd. An exchange of something of value 
A stock company is... 
a. A company that invests in...
CAIB 2 Chapter 7 Practice Test 2 with 100% 
correct solutions 
What are two factors to consider when deciding which form of business 
interruption insurance to purchase? -answeri) Nature of business 
ii) Types of perils most likely to cause losses 
When using old financial statements to establish am...
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Add to cartCAIB 2 Chapter 7 Practice Test 2 with 100% 
correct solutions 
What are two factors to consider when deciding which form of business 
interruption insurance to purchase? -answeri) Nature of business 
ii) Types of perils most likely to cause losses 
When using old financial statements to establish am...
CAIB 1 Practice Exam (Multiple Choice) 
with 100% correct solutions 
All of the following factors except one are used to determine the ACV of insured property. Pick 
the exception. 
A - condition of the object. 
B - sentimental value. 
C - re-sale value. 
D - normal life expectancy - answersB - sent...
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Add to cartCAIB 1 Practice Exam (Multiple Choice) 
with 100% correct solutions 
All of the following factors except one are used to determine the ACV of insured property. Pick 
the exception. 
A - condition of the object. 
B - sentimental value. 
C - re-sale value. 
D - normal life expectancy - answersB - sent...
1x sold
CAIB 3 - Exam Practice Questions with 
100% correct answers 
Breach of Contract - answerFailure to perform a promise in a contract without legal excuse 
Trespass - answerUnlawful interference with someone's person, property, or rights 
False Imprisonment - answerUnlawfully holding someone against t...
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Add to cartCAIB 3 - Exam Practice Questions with 
100% correct answers 
Breach of Contract - answerFailure to perform a promise in a contract without legal excuse 
Trespass - answerUnlawful interference with someone's person, property, or rights 
False Imprisonment - answerUnlawfully holding someone against t...
CAIB 3 Practice Exam Questions With 100% 
Correct Answers 
What is the name given to the collection of written decisions? - answerCase Law 
Explain the concept of the Rule of Precedent. - answerCurrent court decisions must follow 
those made in cases having similar circumstances, which allows the de...
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Add to cartCAIB 3 Practice Exam Questions With 100% 
Correct Answers 
What is the name given to the collection of written decisions? - answerCase Law 
Explain the concept of the Rule of Precedent. - answerCurrent court decisions must follow 
those made in cases having similar circumstances, which allows the de...
CAIB 1 chapter 5 Exam with 100% Correct 
Answers 
Define "farming" - answerthe ownership, maintenance or use of premises for the production 
of crops or the raising or care of livestock, including all necessary operations. 
There are many types of farms. Identify and briefly explain the basic diff...
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Add to cartCAIB 1 chapter 5 Exam with 100% Correct 
Answers 
Define "farming" - answerthe ownership, maintenance or use of premises for the production 
of crops or the raising or care of livestock, including all necessary operations. 
There are many types of farms. Identify and briefly explain the basic diff...
CAIB 2 Chapter 3 Practice Test 1 with 100% 
verified solutions 
What are three causes of fires in Canada and provide an example of each. - answeri) 
Malfunction of electrical or mechanical equipment 
example: Damaged electrical cords 
ii) Arson 
example: Vandal sets fire 
iii) Misuse of ignition sou...
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Add to cartCAIB 2 Chapter 3 Practice Test 1 with 100% 
verified solutions 
What are three causes of fires in Canada and provide an example of each. - answeri) 
Malfunction of electrical or mechanical equipment 
example: Damaged electrical cords 
ii) Arson 
example: Vandal sets fire 
iii) Misuse of ignition sou...
CAIB 2 Chapter 2 Practice Exam 1 with 
100% verified solutions 
What are three advantages using a fact find or survey? - answeri) Assists brokers when 
identifying potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information needed ...
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Add to cartCAIB 2 Chapter 2 Practice Exam 1 with 
100% verified solutions 
What are three advantages using a fact find or survey? - answeri) Assists brokers when 
identifying potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information needed ...
CAIB 2 Chapter 1 Practice exam 2 with 
100% correct answers 
Identify the company which assumes the greatest portion of an accountanswerLead 
Company 
What is re-insuranceansweran insurance company 'ceding' part of the risk to a re-insurer 
What are three considerations used when determining amoun...
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Add to cartCAIB 2 Chapter 1 Practice exam 2 with 
100% correct answers 
Identify the company which assumes the greatest portion of an accountanswerLead 
Company 
What is re-insuranceansweran insurance company 'ceding' part of the risk to a re-insurer 
What are three considerations used when determining amoun...
CAIB 1 chapter 6 Exam with 100% Correct 
Answers 
What types of claims are paid out under Death & Injury - answercourt awards to innocent 
victims and their families, death benefits and funeral expenses, medical payments, rehabilitation 
costs, loss of income 
What types of claims are paid out under...
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Add to cartCAIB 1 chapter 6 Exam with 100% Correct 
Answers 
What types of claims are paid out under Death & Injury - answercourt awards to innocent 
victims and their families, death benefits and funeral expenses, medical payments, rehabilitation 
costs, loss of income 
What types of claims are paid out under...
CAIB 3 Chapter 1Exam with 100% Correct 
Answers 
Identify the two divisions in the Canadian Legal System - answerCriminal Law 
Civil Law 
Should brokers always recommend clients questions concerning maters of law to a qualified 
legal practitioner? - answerYes 
Identify eight examples of criminal wr...
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Add to cartCAIB 3 Chapter 1Exam with 100% Correct 
Answers 
Identify the two divisions in the Canadian Legal System - answerCriminal Law 
Civil Law 
Should brokers always recommend clients questions concerning maters of law to a qualified 
legal practitioner? - answerYes 
Identify eight examples of criminal wr...
CAIB 1 Practice Exam with 100% Correct 
Answers 
Your clients suffered a fire loss totalling $87,555. When making the proof of loss, they claimed 
$1,500 for a stereo unit which they never owned. In the event that the fraud is discovered by the 
insurer, what portion of the claim, if any, is require...
Preview 1 out of 3 pages
Add to cartCAIB 1 Practice Exam with 100% Correct 
Answers 
Your clients suffered a fire loss totalling $87,555. When making the proof of loss, they claimed 
$1,500 for a stereo unit which they never owned. In the event that the fraud is discovered by the 
insurer, what portion of the claim, if any, is require...
CAIB 2 Champter 1 Exam with 100% 
Correct Answers 
Only the property specifically listed or scheduled on the policy is insured. - answerScheduled 
coverage. 
Building, Stock and Equipment are insured under a single limit of insurance. - 
answerProperty of Every Description (POED) coverage. 
All prop...
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Add to cartCAIB 2 Champter 1 Exam with 100% 
Correct Answers 
Only the property specifically listed or scheduled on the policy is insured. - answerScheduled 
coverage. 
Building, Stock and Equipment are insured under a single limit of insurance. - 
answerProperty of Every Description (POED) coverage. 
All prop...
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