Caib 3 practice exam 2024 - Study guides, Class notes & Summaries

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...

CAIB 3 Practice Exam 2024 Questions and Answers.

QUESTIONS AND ANSWERS

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 1 Practice exam 1 Questions and Answers (2024/2025)(Verified Answers) 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 ...

CAIB Exam Practice 2023/2024 - Questions with Correct Answers (Graded A+). What is the basis of claim payment for loss or damage to the mobile home, detached private structures and personal property under a Mobile Homeowners Policy? - AnswerThe basis of claim is Actual Cash Value; payment for loss or damage to personal property is made on the same basis as under Homeowners Forms. Identify two (2) other coverages included under C - Personal Property, which are not found in a Homeowners policy...

CAIB 1 Practice Exam Questions With Answers Latest New Update 2024 Graded A+ (Verified ). Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements? - Answer- Insurable Interest Utmost Good Faith Indemnity Explain the meaning and disadvantage of...

QUESTIONS AND ANSWERS

CAIB 3 Practice Exam (2023/2024)Questions With 100%Verified SolutionsA+GRADED 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 ...

CAIB 1 Practice Exam | 100% Correct Answers | Verified | Latest 2024 Version Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements? - Insurable Interest Utmost Good Faith Indemnity Explain the meaning and disadvantage of the following ap...