Caib 2 chapter 5 exam - Study guides, Class notes & Summaries

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 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 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...

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 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 1 chapter 5 Exam with 100% Correct Answers Define "farming" - answerthe ownership, maintenance or use of premises for the production of crops or the raising or care of livestock, including all necessary operations. There are many types of farms. Identify and briefly explain the basic differences between them. - answer1. Products grown or produced (vegetables, fruits, honey, tobacco, grains, meats, eggs or dairy) 2. Types of specialized machinery or equip used (Specialized in dairy,...

CAIB 2 Chapter 1 Practice exam 1 Question and answers correctly solved 2024 Explain what it means to issue insurance on a scheduled basis - correct answer 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 - correct answer 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 - correct answe...

CAIB 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) Shoplifting; 8) Employee theft....

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...