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CAIB FULL STUDY QUESTIONS AND ANSWERS
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CAIB FULL STUDY QUESTIONS AND ANSWERS 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, financ...

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  • August 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • caib full study questions and answers

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  • CAIB 1
  • CAIB 1

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CAIB FULL STUDY QUESTIONS AND
ANSWERS




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). -
CORRECT ANSWER-"Submission."

1) Assists to identify loss exposures;
2) Helps eliminate purchase of coverage that isn't needed;
3) Assists in development of underwriting information the
insurer needs. - CORRECT ANSWER-Three purposes of
survey forms.

1) Alerts broker to possible loss exposures;
2) Ensures needed coverages are not overlooked;
2) Helps reduce potential for an E&O claim. - CORRECT
ANSWER-Three advantages of using a property checklist with
clients.

Frame. - CORRECT ANSWER-The type of commercial building
construction that's likely to produce the highest insurance rate.

Fire resistive. - CORRECT ANSWER-The type of commercial
building construction that's likely to produce the lowest
insurance rate.

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