CIP EXAM PACKAGE DEAL GRADED A+

1. Identify the two distinct legal systems used in Canada. - Quebec Civil Code and Common Law 2. Why is common law also called "judge-made law"? - Common Law is based on precedent, on decisions made by judges in previous similar cases. 3. What is the Civil Code of Quebec? - General law that con...

Definition #1 - An underwriter is an insurance professional employed to accept or reject risk on behalf of an insurer Definition #2 - An underwriter is an investor of shareholder capital Definition #3 - An underwriter is an insurance professional employed to implement an insurer's strategic pla...

What does claims management encompass ? - 1. Handling individual claims 2. Departmental claims processes and procedures. (What term/s do the ) courts use to determine bad faith? - harsh, vindictive, reprehensible, highhanded, oppressive, malicious what benchmark are adjusters held to? - Utmost go...

Explain the economic laws of Supply and Demand, and explain why these laws do not strictly apply to automobile insurance. - pages 3-3 and 3-13. the economic theory of supply and demand proposes that more resources will be allocated to a product that increases revenue. The law of supply provides t...

Contracts made in province - Signed, countersigned, issued or delivered in the province / committed to the post office / to any carrier, messenger or agent / to be delivered or handed over to the insured or insured's assign or agent in the province. Fire Insurance - Insurance against loss of or ...

Areas of regulation for Intermediaries - Q-ualifaction (must pass test) O-peration of business (must follow requirements) L- Icences - Must have license L- icence Renewal - Renewed annual The Categories of insurance: - 1) Social -Workers Compensation 2) Life and Health Life, accident and sick...

Minimal Risk - The probability of harm or discomfort...not greater...than those ordinarily encountered in daily life or during the performance of routine physical or psychological examinations. The Belmont Principles -Respect for persons, beneficence, and justice IRB - An administrative body comp...