Caib 2 exam with 1 - Study guides, Class notes & Summaries
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CAIB 2 Chapter 1 Practice Exam 1 With 100% Correct Answers 2023-2024
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CAIB 2 Chapter 1 Practice Exam 1 With 100% Correct Answers
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CAIB 1 Practice Exam Questios with 100% Correct Answers
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CAIB 1 Practice Exam Questios with 100% 
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 - answerd. 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 - answerb. A compan...
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CAIB 4 Chapter 6 Exam Questions and Answers 100% Pass
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CAIB 4 Chapter 6 Exam Questions and 
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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...
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CAIB 2 Chapter 2 Practice Exam 1 with 100% verified solutions
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CAIB 2 Chapter 2 Practice Exam 1 with 
100% verified solutions 
What are three advantages using a fact find or survey? - answeri) Assists brokers when 
identifying potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information needed by insurance companies 
What are three benefits of commercial property checklists and which is most important to 
brokers? - answeri) Assists brokers when identifying potential losses 
ii) Assists bro...
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CAIB 4 - Chapter 2 Exam Questions and Answers 100% Pass
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CAIB 4 - Chapter 2 Exam Questions and 
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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...
Too much month left at the end of the money?
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CAIB 4 Chapter 2 Exam Questions and Answers 100% Pass
- Exam (elaborations) • 13 pages • 2024
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CAIB 4 Chapter 2 Exam Questions and 
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Organizing involves determining the way the brokerage's activities will be divided into 
measurable units. Identify the three elements to organizing effectively. - Answer- 1. 
Creating an Organizational Structure 
2. Defining Employee Relationships 
3. Establishing Position Descriptions 
The organizational structure is the skeleton upon which the brokerage grows and 
interacts. The structure also defines who has authority and responsibilit...
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CAIB 1 Practice Exam Questios with 100% Correct Answers
- Exam (elaborations) • 14 pages • 2024
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CAIB 1 Practice Exam Questios with 100% 
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 - answerd. 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 - answerb. A compan...
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CAIB 3 Chapter 6 Exam Questions and Answers 100% Pass
- Exam (elaborations) • 15 pages • 2024
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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...
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CAIB 3 Practice Exam Questions With Verified & Correct Answers 2024|2025
- Exam (elaborations) • 18 pages • 2024
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CAIB 3 Practice Exam Questions With Verified & Correct Answers 2024|2025 
 
What is the name given to the collection of written decisions? Correct Answer: Case Law 
 
Explain the concept of the Rule of Precedent. Correct Answer: Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. 
 
Explain the meaning of the term "damages". Correct Answer: Compens...
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CAIB 4 Chapter 8 Exam Questions and Answers 100% Pass
- Exam (elaborations) • 10 pages • 2024
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CAIB 4 Chapter 8 Exam Questions and 
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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...
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