Caib 2 - Study guides, Class notes & Summaries

CAIB 2 Practice Exam (Latest) Questions & Answers Verified 100% Correct!!

CAIB 4 Exam Questions with Correct Answers What are the two approaches to planning? Explain each - Answer-1) Top Down Planning - Management provides the mission, strategies, and objectives for the brokerage 2) Bottom Up Planning - Management provides the mission and broad strategies. Leaves the objectives, goals and activities to business units. What are the advantages and disadvantages of top down planning? - Answer-Advantages: Management feels in control and in charge of decision makin...

CAIB 2 EXAM QUESTIONS AND ANSWERS

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...

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. Business Interruption correct answersB. Equipment While the law permits the insurer to surrogate against the party responsible for the loss, the insurer agrees not to exercise that right in respect to cer...

CAIB 2 Questions and Answers Already Passed Scheduled Coverage Refer to policy on which coverage is provided only on that property which is specifically identified or scheduled Property of Every Description Refers to policy used to insure buildings, stock and equipment under a single limit of insurance All Property (Blanket) A policy which under all property owned by the insured is covered or "blanketed" by a single limit of insurance Tenant Improvement Building improvement, ...

CAIB 2 - Chapter 6 Exam Review Qs&As identify three types of crime losses to real property - ANS-vandalism malicious acts burglary and arson identify three reasons why some types of personal property become 'target items' - ANS- convertibility (the ease with which property can be converted to cash) value portability identify eight methods used by criminals which can result in loss to real and personal property - ANS- -forced entry into building and protected enclosures -unforced entr...

CAIB 2 Latest Version with Certified Answers 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, equipment and stock under a single limit of Insurance Tenants Improvement building improvements, alteration and betterments made at expense of or purchased by the insured to a building occupied by the insured and which are not otherwise insured, prov...

CAIB 2 – Checkpoints (Comprehensive Study Guide)

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