CAIB 2 EXAMINATION BUNDLE(COMPLETE PACK WITH COMPLETE SOLUTIONS)CAIB 2 EXAMINATION BUNDLE(COMPLETE PACK WITH COMPLETE SOLUTIONS)CAIB 2 EXAMINATION BUNDLE(COMPLETE PACK WITH COMPLETE SOLUTIONS)CAIB 2 EXAMINATION BUNDLE(COMPLETE PACK WITH COMPLETE SOLUTIONS)CAIB 2 EXAMINATION BUNDLE(COMPLETE PACK WIT...
[Show more]
Scheduled Coverage - ANSWERRefer to policy on which coverage is provided only on that property which is specifically identified or scheduled Property of Every Description - ANSWERRefers to policy used to insure buildings, stock and equipment under a single limit of insurance All Property (Blan...
Preview 2 out of 8 pages
Add to cartScheduled Coverage - ANSWERRefer to policy on which coverage is provided only on that property which is specifically identified or scheduled Property of Every Description - ANSWERRefers to policy used to insure buildings, stock and equipment under a single limit of insurance All Property (Blan...
The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance sp...
Preview 4 out of 63 pages
Add to cartThe three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance sp...
Define Loading - ANSWERAdditional rate charged over and above the fire rate. Define common carrier - ANSWERIncludes airline, railroads, trucking companies, and others that furnish transportation to any member of the public seeking their services. Define "Bailee for Hire" - ANSWEROne who has ...
Preview 2 out of 5 pages
Add to cartDefine Loading - ANSWERAdditional rate charged over and above the fire rate. Define common carrier - ANSWERIncludes airline, railroads, trucking companies, and others that furnish transportation to any member of the public seeking their services. Define "Bailee for Hire" - ANSWEROne who has ...
Your client, a retail fashion store, has just rented a business premises in a mall. Before opening your business, she plans to install new wall to wall carpeting and install wall paneling. These values would be insured under the amount provided for: A. Stock B. Equipment C. Building D. Busines...
Preview 3 out of 26 pages
Add to cartYour client, a retail fashion store, has just rented a business premises in a mall. Before opening your business, she plans to install new wall to wall carpeting and install wall paneling. These values would be insured under the amount provided for: A. Stock B. Equipment C. Building D. Busines...
Scheduled Coverage - ANSWERrefers to policy on which coverage is provided only on that property which is specifically identified or scheduled All Property - ANSWERrefers to policy used to insure building, equipment and stock under a single limit of Insurance Tenants Improvement - ANSWERbuildin...
Preview 2 out of 8 pages
Add to cartScheduled Coverage - ANSWERrefers to policy on which coverage is provided only on that property which is specifically identified or scheduled All Property - ANSWERrefers to policy used to insure building, equipment and stock under a single limit of Insurance Tenants Improvement - ANSWERbuildin...
Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - ANSWERMechanical: Drills Thermal: Torches Explosion: Dynamite What is the purpose of Perimeter Protection? - ANSWERTo prevent access to the premises when the business is closed Def...
Preview 3 out of 27 pages
Add to cartIdentify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - ANSWERMechanical: Drills Thermal: Torches Explosion: Dynamite What is the purpose of Perimeter Protection? - ANSWERTo prevent access to the premises when the business is closed Def...
Identify the company which assumes the greatest portion of an account? (Ch. 1) - ANSWERLead company What is "reinsurance" (Ch. 1) - ANSWERReinsurance is when an insurance company "cedes" part of the risk to a reinsurer. What are three considerations used when determining amounts of indemni...
Preview 3 out of 28 pages
Add to cartIdentify the company which assumes the greatest portion of an account? (Ch. 1) - ANSWERLead company What is "reinsurance" (Ch. 1) - ANSWERReinsurance is when an insurance company "cedes" part of the risk to a reinsurer. What are three considerations used when determining amounts of indemni...
A proposal for insurance that's presented to the underwriter for consideration. It can include an application, and additional verbal and written information (i.e., previous policy premium, loss details and history, financial statements and photos). - ANSWER"Submission." 1) Assists to identify ...
Preview 1 out of 4 pages
Add to cartA proposal for insurance that's presented to the underwriter for consideration. It can include an application, and additional verbal and written information (i.e., previous policy premium, loss details and history, financial statements and photos). - ANSWER"Submission." 1) Assists to identify ...
Explain what it means to issue insurance on a scheduled basis - ANSWEROnly the property listed or scheduled on the policy is insured Explain what is meant to issue insurance on the basis of Property of Every Description - ANSWERBuilding, stock and equipment are insured under a single limit of ins...
Preview 1 out of 2 pages
Add to cartExplain what it means to issue insurance on a scheduled basis - ANSWEROnly the property listed or scheduled on the policy is insured Explain what is meant to issue insurance on the basis of Property of Every Description - ANSWERBuilding, stock and equipment are insured under a single limit of ins...
- ANSWER The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of ...
Preview 2 out of 11 pages
Add to cart- ANSWER The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of ...
the company which assumes the greatest portion of an account - ANSWERLead Company What is re-insurance - ANSWERan insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity? - ANSWERi) Actual Cash Value of the property...
Preview 1 out of 4 pages
Add to cartthe company which assumes the greatest portion of an account - ANSWERLead Company What is re-insurance - ANSWERan insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity? - ANSWERi) Actual Cash Value of the property...
Briefly explain the functions of Endorsements - ANSWERChanges the terms or conditions of the Insured's policy Briefly explain the functions of Riders - ANSWERAdds additional coverages to those already in place Briefly explain the functions of Separate Policies - ANSWEREquipment Breakdown Insu...
Preview 2 out of 7 pages
Add to cartBriefly explain the functions of Endorsements - ANSWERChanges the terms or conditions of the Insured's policy Briefly explain the functions of Riders - ANSWERAdds additional coverages to those already in place Briefly explain the functions of Separate Policies - ANSWEREquipment Breakdown Insu...
Provide four sources of Business Interruption losses and an example of each. - ANSWERi) Physical damage to business example: Fire destroys business and customers cannot make purchases ii) Failure of public utilities example: Ice storm damages power lines and power cannot be restored for several ...
Preview 1 out of 3 pages
Add to cartProvide four sources of Business Interruption losses and an example of each. - ANSWERi) Physical damage to business example: Fire destroys business and customers cannot make purchases ii) Failure of public utilities example: Ice storm damages power lines and power cannot be restored for several ...
identify three reasons why a bailee may have temporary custody of the personal property of another - ANSWERfor repair for safekeeping or storage for delivery to others identify three examples of businesses who may be bailees for hire - ANSWERsmall engine repair shops dry cleaners tail...
Preview 2 out of 11 pages
Add to cartidentify three reasons why a bailee may have temporary custody of the personal property of another - ANSWERfor repair for safekeeping or storage for delivery to others identify three examples of businesses who may be bailees for hire - ANSWERsmall engine repair shops dry cleaners tail...
3 advantages of using a fact find or survey - ANSWER1) Assists brokers when identifying potential losses 2) Assists brokers not to sell coverages the client does not need 3) Assists brokers in collecting information needed by insurance companies 3 benefits of commercial property checklists - ANSW...
Preview 1 out of 3 pages
Add to cart3 advantages of using a fact find or survey - ANSWER1) Assists brokers when identifying potential losses 2) Assists brokers not to sell coverages the client does not need 3) Assists brokers in collecting information needed by insurance companies 3 benefits of commercial property checklists - ANSW...
1. An application 2. Additional verbal information 3. Additional written information, including: previous policy premium, loss history and details, photos, and financial statements - ANSWERAn application and a submission are not the same thing. Identify three items that a submission may include ...
Preview 2 out of 5 pages
Add to cart1. An application 2. Additional verbal information 3. Additional written information, including: previous policy premium, loss history and details, photos, and financial statements - ANSWERAn application and a submission are not the same thing. Identify three items that a submission may include ...
Define Endorsement. - ANSWEREndorsements change terms of existing policies Define Rider. - ANSWERRiders add coverages to those all ready on policy Indicate Covered or Not Covered on Sign Form (C/NC) a) mechanical breakdown b) damage caused by power surge c) damage caused when dropped duri...
Preview 2 out of 6 pages
Add to cartDefine Endorsement. - ANSWEREndorsements change terms of existing policies Define Rider. - ANSWERRiders add coverages to those all ready on policy Indicate Covered or Not Covered on Sign Form (C/NC) a) mechanical breakdown b) damage caused by power surge c) damage caused when dropped duri...
1. Is perceived as being too technical 2. Reluctance of insured to reveal earnings 3. Lack of consumer knowledge - ANSWERIdentify three reasons or obstacles to selling business interruption instance 1. Physical damage to property 2. Failure or breakdown of public utilities 3. Transportation...
Preview 2 out of 6 pages
Add to cart1. Is perceived as being too technical 2. Reluctance of insured to reveal earnings 3. Lack of consumer knowledge - ANSWERIdentify three reasons or obstacles to selling business interruption instance 1. Physical damage to property 2. Failure or breakdown of public utilities 3. Transportation...
replacement value - ANSWERCost to repair, replace or rebuild the lost or damaged property without deduction for depreciation Scheduled Coverage - ANSWERCoverage for property specifically identified or scheduled on the insurance policy All Property - ANSWERAll property owned by Insured is cover...
Preview 2 out of 7 pages
Add to cartreplacement value - ANSWERCost to repair, replace or rebuild the lost or damaged property without deduction for depreciation Scheduled Coverage - ANSWERCoverage for property specifically identified or scheduled on the insurance policy All Property - ANSWERAll property owned by Insured is cover...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller papersmaster01. Stuvia facilitates payment to the seller.
No, you only buy these notes for $45.49. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
80461 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now
