Caib 2 chapter 6 exam - Study guides, Class notes & Summaries

CAIB 2 - Chapter 6 Exam Questions and Answers 100% Correct 3 Considerations that make some property items "Target Items" and provide an explanation for each - Answer- 1) Convertibility; the ease at which property can be sold and converted to cash 2) Value; higher valued articles are more attractive to thieves 3) Portability; the ease at which property can be transported 4 methods used by thieves which may cause loss to insured property & provide an example - Answer- 1) Forceable entry i...

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...

3 Considerations that make some property items "Target Items" and provide an explanation for each - correct answer 1) Convertibility; the ease at which property can be sold and converted to cash 2) Value; higher valued articles are more attractive to thieves 3) Portability; the ease at which property can be transported 4 methods used by thieves which may cause loss to insured property & provide an example - correct answer 1) Forceable entry into building; entry by breaking a window 2) U...

CAIB 3 Chapter 3 Exam Questions and Answers 100% Pass Identify, other than in Quebec two different systems used to insure automobiles in Canada - Answer- 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles - Answer- SPF No 1. Owners Form SPF No 4. Standard garage automobile policy SPF No 6. Standard non-owned automobile policy Briefly explain what is meant by standard policy forms - Answer- Pol...

CAIB 2 - Chapter 6 Exam Questions and Answers 100% Correct 3 Considerations that make some property items "Target Items" and provide an explanation for each - Answer- 1) Convertibility; the ease at which property can be sold and converted to cash 2) Value; higher valued articles are more attractive to thieves 3) Portability; the ease at which property can be transported 4 methods used by thieves which may cause loss to insured property & provide an example - Answer- 1) Forceable entry i...

CAIB 3 Chapter 3 Exam Questions and Answers 100% Pass Identify, other than in Quebec two different systems used to insure automobiles in Canada - Answer- 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles - Answer- SPF No 1. Owners Form SPF No 4. Standard garage automobile policy SPF No 6. Standard non-owned automobile policy Briefly explain what is meant by standard policy forms - Answer- Pol...

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 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 ...