CAIB 1
CAIB 1
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Practice Exam for CAIB 1 Questions With 100% Correct Answers.
- Exam (elaborations) • 6 pages • 2024
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Practice Exam for CAIB 1 Questions With 100% Correct Answers.
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CAIB 1 Chapter 6 Questions and Answers 100% Pass
- Exam (elaborations) • 11 pages • 2024
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CAIB 1 Chapter 6 Questions and 
Answers 100% Pass 
What is the minimum limit of Third Party Liability available in your province? - Answer- 
$200,000 
How does an insured show proof of financial responsibility in your province - Answer- 
The "pink copy" of the certificate of registration 
Identify the Automobile coverages that are available in your province and indicate which 
are compulsory. - Answer- Auto Policy Limits - $200,000 Bodily Injury - $180,000 
Property Damage - $20,000 
All compu...
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CAIB 1 Chapter 6 Questions and Answers (2024/2025)(Verified Answers)
- Exam (elaborations) • 17 pages • 2024
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CAIB 1 Chapter 6 Questions and Answers (2024/2025)(Verified Answers)
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CAIB 1 Chapter 6 Questions and Answers 100% Pass
- Exam (elaborations) • 11 pages • 2024
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CAIB 1 Chapter 6 Questions and 
Answers 100% Pass 
What is the minimum limit of Third Party Liability available in your province? - Answer- 
$200,000 
How does an insured show proof of financial responsibility in your province - Answer- 
The "pink copy" of the certificate of registration 
Identify the Automobile coverages that are available in your province and indicate which 
are compulsory. - Answer- Auto Policy Limits - $200,000 Bodily Injury - $180,000 
Property Damage - $20,000 
All compu...
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CAIB 1 - CHAPTER 1-4 UPDATED Exam Questions and CORRECT Answers
- Exam (elaborations) • 19 pages • 2024
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CAIB 1 - CHAPTER 1-4 UPDATED Exam 
Questions and CORRECT Answers 
Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating 
financial loss - Correct ANSWER- -Equipment will not work 100% of the time 
-certain types of losses such as wind, hail and lightning cannot be effectively controlled 
People can choose to deal with risk in a variety of ways identify four possible options and 
provide a brief explanation of each - Correct ANSWER- Avoid the risk - ...
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CAIB 1 - CHAPTER 1-4 questions with correct answers
- Exam (elaborations) • 31 pages • 2024
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CAIB 1 - CHAPTER 1-4 questions with correct answers
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CAIB 1 Practice Questions (100) Questions and Answers (2024/2025)(Verified Answers)
- Exam (elaborations) • 34 pages • 2024
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CAIB 1 Practice Questions (100) Questions and Answers (2024/2025)(Verified Answers)
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CAIB 1 Practice Questions (100) UPDATED Exam Questions and CORRECT Answers
- Exam (elaborations) • 12 pages • 2024
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CAIB 1 Practice Questions (100) UPDATED 
Exam Questions and CORRECT Answers 
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - Correct ANSWER- d. An exchange of something of 
value 
A stock company is... 
a. A company that invests in other companies
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CAIB 1 - Chapter 6 Practice Questions and Answers 100% Pass
- Exam (elaborations) • 11 pages • 2024
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CAIB 1 - Chapter 6 Practice Questions and 
Answers 100% Pass 
What types of claims are paid out under Death & Injury - Answer- court awards to 
innocent victims and their families, death benefits and funeral expenses, medical 
payments, rehabilitation costs, loss of income 
What types of claims are paid out under Damage to Property - Answer- Collision, 
Comprehensive 
Why is auto insurance compulsory in all provinces? - Answer- It is unlikely that people 
would voluntarily purchase insurance thu...
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Caib 1 Chapter 1 questions / definitions with 100% correct answers
- Exam (elaborations) • 11 pages • 2024
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Caib 1 Chapter 1 questions / definitions 
with 100% correct answers 
Identify 4 possible options to deal with Risk , describe each - Answer- Control the Risk ( 
loss control measures) 
Avoid the Risk ( rent Rather than buy ) 
Retain the risk ( self insurance or share risk through deductibles) 
Transfer the Risk ( purchase insurance ) 
Out of the 4 means of managing risk, which is the most practical? - Answer- Transfer of 
Risk 
Identify the 5 elements required in all types of contracts - Answer-...
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