Caib 2 exam with 1 - Study guides, Class notes & Summaries

CAIB 2 Champter 1 Exam with 100% Correct Answers Only the property specifically listed or scheduled on the policy is insured. - answerScheduled coverage. Building, Stock and Equipment are insured under a single limit of insurance. - answerProperty of Every Description (POED) coverage. All property owned by the insured is covered or "blanketed" by a single limit of insurance. (May insure property at more than one location.) - answerAll Property (Blanket) coverage. 1) Building 2) Equipm...

CAIB 2 PRACTICE EXAM CAIB 2 PRACTICE EXAM WITH GUARANTEED COMPLETE ANSWERS 2024|VERIFIED Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? - Accurate AnswerIs less than $5000 or Is less than 2% of the amount of insurance. (72,00 x 2%=1440) Identify 3 reasons why exclusions exist on commercial property policy. - Accurate Answerlosses which are generally considered by insurers to be commercially ...

CAIB 2 Chapter 5 Practice Test 1 exam 2024 with 100- correct answers.

CAIB 3 Chapter 6 Exam Questions and Answers 100% Pass Identify the two dimensions of the risk management process - Answer- 1. A decision process 2. A management or administrative process Identify the five steps in the decision making process - Answer- Step 1 - Identify & analyze loss exposure Step 2 - Examine alternative risk management techniques Step 3 - Select risk management techniques Step 4 - Implement techniques Step 5 - Monitor results Identify the four administrative areas in...

CAIB 2 Practice Exam Questions and Answers 100% Correct Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? Is less than $5000 or Is less than 2% of the amount of insurance. (72,00 x 2%=1440) Identify 3 reasons why exclusions exist on commercial property policy. losses which are generally considered by insurers to be commercially insurable: 1. Deliberate acts of violence -war, rebellion 2. losses w...

CAIB 2 Chapter 5 Practice Test 1 Exam With 100% Correct Answers

CAIB 2 Chapter 2 Practice Exam 1 With 100% Correct Answers

CAIB 2 Chapter 1 Practice exam 2 with 100% correct answers Identify the company which assumes the greatest portion of an accountanswerLead Company What is re-insuranceansweran insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity?answeri) Actual Cash Value of the property as it existed immediately prior to the loss ii) The interest of the insured in the property iii) The amount of insurance as shown on the p...

CAIB 4 Exam Questions With 100% Correct Answers 2024|2025 What are the two approaches to planning? Explain each - Correct 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? - Correct Answer Advantages: Management feels in control...