Caib 1 chapter 2 Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Caib 1 chapter 2? On this page you'll find 233 study documents about Caib 1 chapter 2.
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![CAIB 1 - Chapter 2 Questions and Answers Graded A+](/docpics/5570502/6662e403bfdf4_5570502_121_171.jpeg)
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CAIB 1 - Chapter 2 Questions and Answers Graded A+
- Exam (elaborations) • 12 pages • 2024
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What are the 3 types of Homeowners Forms? 1. Homeowners Basic 2. Homeowners Broad 
3. Homeowners Comprehensive 
Who develops insurance forms? Insurance Bureau of Canada 
What types of risks are now eligible for coverage? Dwellings containing more than one 
family, Insureds who own more than one dwelling, Mobile homes on full basements, dwellings 
in course of construction 
What are the common characteristics of Homeowners Forms? 1. Clear Language 2. Common 
Format or Structure 3. Policy Definiti...
![CAIB 2 CHAPTER 4 QUESTIONS AND ANSWERS RATED A+](/docpics/4700311/65eb7603e2dd7_4700311_121_171.jpeg)
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CAIB 2 CHAPTER 4 QUESTIONS AND ANSWERS RATED A+
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CAIB 2 CHAPTER 4 QUESTIONS AND 
 
ANSWERS RATED A+ 
 
Breifly explain the fuctions or endorsements, riders, and separate policies 1. Endorsements; 
changes the terms or conditions of the insureds policy 
2. Riders; adds additional coverage to those already in place 
3. Separate policies; equipment breakdown insurance, computer crime, other specialized 
coverages often purchased separately but can be added to existing policy 
 
Identify the endorsement, rider or policy to respond to the following...
![CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers)](/docpics/4166603/659b17e4736f4_4166603_121_171.jpeg)
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CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers)
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CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers)
![CAIB 2 - Chapter 1 Questions and Answers Already Passed](/docpics/4700376/65eb776a6d3a7_4700376_121_171.jpeg)
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CAIB 2 - Chapter 1 Questions and Answers Already Passed
- Exam (elaborations) • 8 pages • 2024
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CAIB 2 - Chapter 1 Questions and 
Answers Already Passed 
 
Explain "Scheduled Basis" Only the items listed on the policy will be insured 
 
Explain "Property of Every Description" Basis Building, stock and equipment are insured 
under a single limit of insurance 
 
Explain "All Property (Blanket)" Basis All property owned by the insured is insured under a 
single limit of insurance - this can include property at different locations and may be subject to 
co insurance 
 
Identify 5 compone...
![CAIB 3 Chapter 3 Questions and Answers Rated A+](/docpics/4707847/65ecd6c1342b5_4707847_121_171.jpeg)
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CAIB 3 Chapter 3 Questions and Answers Rated A+
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CAIB 3 Chapter 3 Questions and 
 
Answers Rated A+ 
 
Identify, other than in Quebec two different systems used to insure automobiles in Canada 1. 
Private insurers 
2. Compulsory government insurance plans 
 
Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles SPF No 
1. Owners Form 
SPF No 4. Standard garage automobile policy 
SPF No 6. Standard non-owned automobile policy 
 
Briefly explain what is meant by standard policy forms Policy forms developed by the 
...
![CAIB 2 Chapter 4 Practice Test 1 Questions and Answers](/docpics/4231508/65a50688ee2b3_4231508_121_171.jpeg)
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CAIB 2 Chapter 4 Practice Test 1 Questions and Answers
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CAIB 2 Chapter 4 Practice Test 1
![CAIB 1 - Chapter 1 Questions and Answers Rated A+](/docpics/4700562/65eb7ba20ae83_4700562_121_171.jpeg)
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CAIB 1 - Chapter 1 Questions and Answers Rated A+
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CAIB 1 - Chapter 1 Questions and 
 
Answers Rated A+ 
 
Define "Risk" The chance of a financial loss to which the object of insurance may be 
exposed to 
 
List 3 Categories of Risk 1) Personal 2) Property 3) Liability 
 
List 4 Types of Risk Management Techniques 1) Risk Avoidance 2) Risk Retention 3) Risk 
Control 4) Risk Transfer 
 
Define "Risk Avoidance" To avoid doing something in order to eliminate the chance of risk 
 
Define "Risk Retention" To self-insure or to pay for losses the...
![CAIB 4 - Chapter 2 Questions and Answers Rated A+](/docpics/4707785/65ecd55b3689e_4707785_121_171.jpeg)
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CAIB 4 - Chapter 2 Questions and Answers Rated A+
- Exam (elaborations) • 16 pages • 2024
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CAIB 4 - Chapter 2 Questions and 
 
Answers Rated A+ 
 
Identify 3 elements to organizing effectively: 1. Creating an organizational structure. 
2. Defining employee relationships. 
3. Establishing position descriptions. 
 
Identify 3 basic forms of organizational structure based on the way authority and responsibility is 
delegated. 1. Line organization 
2. Functional organization 
3. Line and staff organization 
 
Identify which type of brokerage is best suited for a line organization and brie...
![CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass](/docpics/4707837/65ecd68b33152_4707837_121_171.jpeg)
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CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass
- Exam (elaborations) • 22 pages • 2024
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CAIB 3 - Chapter 5 - Surety Bonds 
Questions and Answers 100% Pass 
 
What guarantees are provided by various licence and permit bonds? 1. Compliance 
Guarantees 
2. Financial Guarantees 
3. Credit Guarantees 
 
Surety -The state of being sure, certain and secure. 
-"one who undertakes to pay money or to do any other act in event that his (the) principal fails 
therein." 
-Promises to answer for the default of the principal. 
 
Suretyship A guarantee of performance made by one person or entity...
![CAIB 2 Chapter 4 Practice Test 1](/docpics/4266676/65a979057f843_4266676_121_171.jpeg)
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CAIB 2 Chapter 4 Practice Test 1
- Exam (elaborations) • 6 pages • 2024
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CAIB 2 Chapter 4 Practice Test 1 
Define Endorsement. - Answer ️️ -Endorsements change terms of existing policies 
Define Rider. - Answer ️️ -Riders add coverages to those all ready on policy 
Indicate Covered or Not Covered on Sign Form (C/NC) 
a) mechanical breakdown 
b) damage caused by power surge 
c) damage caused when dropped during installation 
d) damage caused by freezing 
e) damage caused by striking employees - Answer ️️ -a) NC mechanical breakdown 
b) NC damage caused by ...
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