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CAIB 2 STUDY NOTES; CHAPTER 2 CORRECT 100%. $15.99
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CAIB 2 STUDY NOTES; CHAPTER 2 CORRECT 100%.
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  • CAIB 2
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  • CAIB 2

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...

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  • August 18, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • caib 2 study notes chapter 2 correct 100
  • caib 2 study notes chapter 2 stuvia
  • 1 an application 2 additional verbal informatio
  • 1 completion of survey 2 search for interested

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  • CAIB 2
  • CAIB 2

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CAIB 2 STUDY NOTES;
CHAPTER 2 CORRECT 100%.
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



1. Completion of survey

2. Search for interested insurers

3. Meet with prospect, discuss quotes and select insurer

4. Request binding coverage from elected insurer

5. Review policy and deliver to client - ANSWERIdentify five steps of the brokers role in the
underwriting process

1. Fire resistive

2. Non-combustive

3. Heavy timber

4. Ordinary

5. Frame - ANSWERIdentify five classes of building constructions as identified by the IAO



1. Fire resistive - one which has met minimum standards in terms of hours it will withstand a specific,
carefully controlled test fire

2. Frame - supporting walls, exterior wood, plaster, metal and masonry veneers

3. Heavy timber - old buildings, rare - ANSWERIdentify three of the following: Fire resistive, non-
combustible, heavy timber, ordinary and frame



1. Roof

2. Wiring

3. Over-current protection (breakers/fuses)

, 4. Plumbing

5. Heating - ANSWERIdentify five areas of information that may be required when a building is over
25 years or age



1. Heating

2. Electrical services

3. Detachment

4. Protection

5. Occupancy - ANSWERIdentify five hazards common to all commercial buildings which may
influence their potential for loss



1. Assists in identification of loss exposures

2. Helps to determine coverage needed

3.develops other underwriting information needed by the insurer - ANSWERIdentify three things that
a survey does



1. Alerts brokers to possible loss exposures

2. Ensures that needed coverages are not forgotten or ignored

3. Helps to reduce the potential for an error and omissions claim - ANSWERIdentify three reasons fo
a broker to use a commercial property check list



1. Copper wiring; superior over aluminum. All wiring enclosed within metallic casing or conduit to
protect from damage, decay, or breakdown

2. Non-interchangeable circuit breakers; they are virtually fool proof - once installed, they can be
reset whenever they trip by pressing reset button

3. Identify the two types of protection available for insured property;

1. Private protection; things insured has done internally to prevent or reduce loss (fire extinguishers)

2. Public protection - that which is external (availability of firefighting services) - ANSWERIdentify the
advantages of; Copper wiring, non-interchangeable circuit breakers, and two types of protection
available for insured property




1. Risk selection

2. Risk classification

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