Caib 2 chapter 3 exam - Study guides, Class notes & Summaries

CAIB 2 - CHAPTER 6 Exam Questions and AnswersCAIB 2 - CHAPTER 6 Exam Questions and Answers 1) Convertibility; 2) Value; 3) Portability. - Answer ️️ -Three factors of personal property that can help business owners determine loss potential from a criminal act. 1) Forced entry into building; 2) Forced entry into protected enclosures; 3) Unforced entry into building or protected enclosures; 4) Forced opening of building and protected enclosures; 5) Vandalism and mailicious acts; 6) Espionage; 7...

CAIB 4 Chapter 4 Exam Questions and Answers 100% Correct Successful leadership results in knowledgeable, dedicated and motivated employees working effectively together to achieve the brokerage's mission, strategies, objectives and goals. Identify the six components of leading. - Answer- 1. Delegating 2. Motivating 3. Communicating 4. Managing conflict 5. Managing change 6. Coaching Delegating is the art of accomplishing objectives and achieving goals through the involvement of others...

CAIB 1 Chapter 3 Exam Questions and Answers 100% Pass Identify four perils that mobile homes are more susceptible to than conventional homes - Answer- 1. Fire 2. Windstorms 3. Hail 4. Transportation Identify the purpose of "tie downs" - Answer- Secure the unit to the foundation so that it remains stable during windstorms Explain the purpose of "dent clause" - Answer- Excludes payment unless the exterior siding has been actually torn or punctured by the storm Identify 2 expenses in...

CAIB 3 Chapter 5 Exam Questions and Answers 100% Pass Identify the two main classes of bonds issued by surety companies - Answer- 1. Fidelity Bonds 2. Surety Bonds Briefly explain the purpose of a Fidelity Bond - Answer- To protect the employer from the dishonest acts of their employees. Today employees do not purchase their own Fidelity Bonds. Instead employers purchase employee dishonesty insurance Identify and explain the three C's that all underwriters take very seriously, and that ...

CAIB 4 Chapter 8 Exam Questions and Answers 100% Pass Technology development has had a major impact on the insurance industry. It has completely transformed the way information is recorded and transmitted between the parties involved in insurance transactions. Identify five functions that the effective utilization of technology will allow brokers to realize. - Answer- 1. Improve client service levels 2. Store information safely and convenietly 3. Reduce operating costs 4. Handle large v...

CAIB 4 - Chapter 2 Exam Questions and Answers 100% Pass Identify 3 elements to organizing effectively: - Answer- 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. - Answer- 1. Line organization 2. Functional organization 3. Line and staff organization Identify which type of brokerage is best suited for a line or...

CAIB 2 - CHAPTER 4 Exam Questions and Answers 1) Endorsement; 2) Rider; 3) Separate policy. - Answer ️️ -The three ways a change to a commercial property policy can be made. Changes the terms or conditions of the policy. - Answer ️️ -"Endorsement." Adds coverages to the policy. - Answer ️️ -"Rider." The materials, including disks, tapes and punch cards on which data is stored. - Answer ️️ - "Media." The information stored on media. - Answer ️️ -"Data." 1) At...

CAIB 2 Chapter 1 Practice Exam 1 Latest Update Graded A+ Explain what it means to issue insurance on a scheduled basis Only the property listed or scheduled on the policy is insured Explain what is meant to issue insurance on the basis of Property of Every Description Building, stock and equipment are insured under a single limit of insurance Explain what it means to issue insurance on an all property (blanket) basis All property owned by the insured is insured under a single limi...

CAIB 4 Chapter 6 Exam Questions and Answers 100% Pass Identifying the three meanings given to marketing in the insurance world. - Answer- 1. Placing of business by an insurance brokerage with various insurers. 2. Insurance companies promoting their products to brokerages 3. Insurance companies promoting their products to consumers. Marketing may be defined as a system of business activities which are designed to plan, promote, price and distribute want-satisfying products, services and id...

CAIB 2 - CHAPTER 6 EXAM 1) Convertibility; 2) Value; 3) Portability. - Answer ️️ -Three factors of personal property that can help business owners determine loss potential from a criminal act. 1) Forced entry into building; 2) Forced entry into protected enclosures; 3) Unforced entry into building or protected enclosures; 4) Forced opening of building and protected enclosures; 5) Vandalism and mailicious acts; 6) Espionage; 7) Shoplifting; 8) Employee theft. - Answer ️️ -Meth...