Caib 1 practice questions Study guides, Class notes & Summaries

CAIB 1 Practice Questions | 100 Questions with 100% Correct Answers | Verified | Updated

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 - Answer d. An exchange of something of value A stock company is... a. A company that invests in other companies b. A company owned by stockholders who provide the capital to start and run the company c. Is owned by customers of the company d. A company that owns livestock - Answer b. A company owned by stockholders who provide ...

CAIB 1 Practice Questions (100) With Correct Answers.

CAIB 1 Practice Questions (100) Answered 100% Correct -2023

CAIB 1 Practice Questions (100) with correct answers

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

CAIB 1 - Chapter 1 Practice Questions and Answers 100% Correct Define "Risk" - Answer- The chance of a financial loss to which the object of insurance may be exposed to List 3 Categories of Risk - Answer- 1) Personal 2) Property 3) Liability List 4 Types of Risk Management Techniques - Answer- 1) Risk Avoidance 2) Risk Retention 3) Risk Control 4) Risk Transfer Define "Risk Avoidance" - Answer- To avoid doing something in order to eliminate the chance of risk Define "Risk Retention...

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 - d. An exchange of something of value A stock company is... a. A company that invests in other companies b. A company owned by stockholders who provide the capital to start and run the company c. Is owned by customers of the company d. A company that owns livestock - b. A company owned by stockholders who provide the capital to start and run the ...

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 - Answer d. An exchange of something of value A stock company is... a. A company that invests in other companies b. A company owned by stockholders who provide the capital to start and run the company c. Is owned by customers of the company d. A company that owns livestock - Answer b. A company owned by stockholders who provide ...