Bundle of CAIB 2 Tests| Questions & 100% correct Answers | verified

1) Convertibility; 2) Value; 3) Portability. - Three factors of personal property that can help business owners determine loss potential from a criminal act. 1) Forced entry into building; 2) Forced entry into protected enclosures; 3) Unforced entry into building or protected enclosures; 4) F...

Detachment - refers to the proximity of the building or containing the property insured to other commercially rated buildings Adverse Selection - occurs when the applicants for insurance are largely those most likely to suffer a loss

Only the property specifically listed or scheduled on the policy is insured. - Scheduled coverage. Building, Stock and Equipment are insured under a single limit of insurance. - Property of Every Description (POED) coverage.

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...

Scheduled Coverage - refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - refers to policy used to insure building, stock and equipment under a single limit of insurance

identify three types of crime losses to real property - vandalism malicious acts burglary and arson identify three reasons why some types of personal property become 'target items' - convertibility (the ease with which property can be converted to cash)

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...