100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
CAIB 2- Chapter 3 Exam Questions & Answers Latest Update 2024/2025 Guarantee Pass CA$15.80   Add to cart
Quickly navigate to
Preview
  2.  
  3. CAIB 2- Chapter 3
  4.  
  5. CAIB 2- Chapter 3

Exam (elaborations)

CAIB 2- Chapter 3 Exam Questions & Answers Latest Update 2024/2025 Guarantee Pass
 10 views  0 purchase
  • Course
  • CAIB 2- Chapter 3
  • Institution
  • CAIB 2- Chapter 3

identify the three leading causes of fires in canada - CORRECT ANSWER--failure or malfunction of mechanical or electrical equipment -arson, suspected arson and other set fires -misuse of source of ignition Identify what information is required by law to appear on all insurance policies - CORRE...

[Show more]

Preview 2 out of 11  pages

Document information

  • August 12, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • caib 2 chapter 3 exam questions answers latest
  • caib 2 chapter 3 exam questions answers stuvia
  • identify the three leading causes of fires in cana

Written for

  • CAIB 2- Chapter 3
  • CAIB 2- Chapter 3

Seller

avatar-seller
remojudytask

Reviews received

Content preview

CAIB 2- Chapter 3 Exam Questions &
Answers Latest Update 2024/2025
Guarantee Pass

identify the three leading causes of fires in canada - CORRECT ANSWER--failure or
malfunction of mechanical or electrical equipment

-arson, suspected arson and other set fires

-misuse of source of ignition



Identify what information is required by law to appear on all insurance policies -
CORRECT ANSWER-names of parties to the contract

policy period\loss payable or payee

summary of insurance coverage

rate and premium charged

subject matter of insurance



identify the 'policy period' shown on the declarations page - CORRECT ANSWER-the
policy takes effect 1201 am local time at the insureds address



what could happen if an insurer paid the entire amount of a claim to the client when a
'loss payable' was indicated on the policy? - CORRECT ANSWER-the insurer would be
called upon to pay the claim twice



how could your answer differ if the loss payable was not indicated on the policy? -
CORRECT ANSWER-when the payee is not stated on the policy and payment of a loss
is paid in full to the insured, there is no obligation upon the insurer to indemnify the
payee



The IFC 10010 is designed to meet the requirements of the insurance acts of the
common law provinces. identify the three perils to be included by law in any contract of
fire insurance - CORRECT ANSWER-fire

, lightning

explosion of natural, coral or manufactured gas



does the peril of lightning under this form cover DIRECT losses to electrical appliances?
- CORRECT ANSWER-no



identify the losses that insurers are NOT liable for by law - CORRECT ANSWER-loss or
damage to electrical devices, appliances or wiring caused by artificially generated
electrical currents.

loss or damage by the application of heat.

loss or damage caused by war



trade losses are NOT required to be insured by law. identify three types of businesses
that may suffer a trade loss - CORRECT ANSWER-bakeries\laundaries\machinging and
fabricating shops, garages



certain property losses are NOT required to be nsured by law. identify the four groups of
property exluded - CORRECT ANSWER-money, securities, stamps

automobiles, watercraft, aircraft

property at locations which the knowledge of the insured are vacant, unoccupied, or
shut down for more than 30 consecutive days



any additional costs as a result of a by-law, incurred by the insured is NOT covered
under the policy. identify any three such costs that may be incurred by the insured. -
CORRECT ANSWER-use of improved construction materials

installation of automatic fire estinguishing systems

installation of wheelchair, ramps, and improved accessibility features for the
handicapped



identify two extensions of coverage required by law to be in a fire policy - CORRECT
ANSWER-removal

debris removal

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

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!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

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.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller remojudytask. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$15.80. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75759 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$15.80
  • (0)
  Add to cart