Caib 1 chapter 4 Study guides, Class notes & Summaries

CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024 Identify three leading causes of fires in Canada - correct answer 1. Arson or suspected arson 2. Failure or malfunction of mechanical or electrical equipment 3. Misuse of source of ignition Identify what information is requied by law to apper on all insurance polcies - correct answer 1. Name of parties to the contract 2. Policy period 3. Loss payable of payee 4. Summary of insurance coverages and amounts fo...

CAIB 1 Chapter 7 Questions and Answers Already Passed Who is responsible for the administration of the insurance act in your province? MB Government Outline the initial licensing requirements, whether there are different levels of licenses, the supervision requirements, and license terms in your province. Insurance license required. CAIB 1 with supervision Outline the class of license issued in our province and whether this license would be valid in other provinces. CAIB, this is t...

CAIB 1 - Chapter 2 Questions and Answers Graded A+ What are the 3 types of Homeowners Forms? 1. Homeowners Basic 2. Homeowners Broad 3. Homeowners Comprehensive Who develops insurance forms? Insurance Bureau of Canada What types of risks are now eligible for coverage? Dwellings containing more than one family, Insureds who own more than one dwelling, Mobile homes on full basements, dwellings in course of construction What are the common characteristics of Homeowners Forms? 1. C...

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 2 - CHAPTER 1 QUESTIONS AND ANSWERS ALREADY PASSED Scheduled coverage. Only the property specifically listed or scheduled on the policy is insured. Property of Every Description (POED) coverage. Building, Stock and Equipment are insured under a single limit of insurance. All Property (Blanket) coverage. All property owned by the insured is covered or "blanketed" by a single limit of insurance. (May insure property at more than one location.) The three classes of property i...

CAIB 4 Chapter 2- Study Guide Questions with Complete Solutions Organizing involves determining the way the brokerage's activities will be divided into manageable units. Identify 3 elements to organizing effectively. 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. 1. Line Organization- best suited for smaller b...

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 4 Chapter 4 Questions with Verified Solutions 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. 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 and by gi...

CAIB 1 Chapter 5 Farm Insurance Questions and Answers Graded A+ Define farming premises for crops and livestock roadside stands and farmers markets Three Basic differences between types of arms 1) The product grown or produced 2) Types of specialized machinery or equipment used 3) The types of buildings required Identify the 4 coverages generally provided by most farm policies 1) dwelling building and personal property 2) Major outbuildings and contents 3) Machinery and equipment...