Caib 2 chapter 1 - Study guides, Class notes & Summaries

CAIB 2 - Chapter 1

CAIB 3 Chapter 3 Questions and Answers Rated A+ Identify, other than in Quebec two different systems used to insure automobiles in Canada 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles 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 Policy forms developed by the ...

CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers)

CAIB 1 Chapter 2 Question and answers correctly solved 2024 Identify the three most common homeowners policies in use today. - correct answers Homeowners Basic Form (IBC1151) Homeowners Broad Form (IBC1153) Homeowners Comprehensive Form (IBC1155) In addition to single family dwellings, identify 4 other risks that may be eligible for homeowner's policy. - correct answers 1. Dwellings containing more than 1 family 2. For insureds having more than one principal dwelling 3. Mobile homes si...

CAIB 2 - CHAPTER 1 QUESTIONS

CAIB 2 CHAPTER 5 PRACTICE TEST 1

CAIB 2 - CHAPTER 6 IBABC (Questions And Answers) 100% Verified Review 1) Convertibility; 2) Value; 3) Portability. - ANS-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) E...

CAIB 2 Chapter 4 Practice Test 1

CAIB 1 - Chapter 1 Questions and Answers Rated A+ Define "Risk" The chance of a financial loss to which the object of insurance may be exposed to List 3 Categories of Risk 1) Personal 2) Property 3) Liability List 4 Types of Risk Management Techniques 1) Risk Avoidance 2) Risk Retention 3) Risk Control 4) Risk Transfer Define "Risk Avoidance" To avoid doing something in order to eliminate the chance of risk Define "Risk Retention" To self-insure or to pay for losses the...

CAIB 2 Chapter 1 Questions and Answers (2024/2025)(Verified Answers) The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: 1) the value of the lost or damaged property (ACV) 2) the interest of the insured in the property (ex. financial interest, home, mortgage) 3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) Identify the four categories that building...