Caib 3 Study guides, Class notes & Summaries

Identify the two divisions in the Canadian Legal System Criminal Law Civil Law Should brokers always recommend clients questions concerning maters of law to a qualified legal practitioner? Yes Identify eight examples of criminal wrongs Certain uses of an automobile Possession and trafficking of drugs Murder Voluntary manslaughter Burglary, robbery and theft Price fixing Pollution of the air and water False advertising Identify two duties of the state with respect to those who commit ...

CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass What guarantees are provided by various licence and permit bonds? - Answer- 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety - Answer- -The state of being sure, certain and secure. -"one who undertakes to pay money or to do any other act in event that his (the) principal fails therein." -Promises to answer for the default of the principal. Suretyship - Answer- A guarantee of performance made...

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 ...

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 ...

CAIB 3 Practice Exam Questions and Answers 100% Pass What is the name given to the collection of written decisions? - Answer- Case Law Explain the concept of the Rule of Precedent. - 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". - Answer- Compensation in money for the loss or damage su...

CAIB 3 EXAM PRACTICE QUESTIONS 2024 CAIB 3 EXAM PRACTICE QUESTIONS 2024 WITH GUARANTEED ACCURATE ANSWERS|VERIFIED What is the name given to the collection of written decisions? - Accurate AnswerCase Law Explain the concept of the Rule of Precedent. - Accurate AnswerCurrent 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 o...

CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exam with Answers 100% Correct CAIB 3 Chapter 5 Exa...

CAIB 3 Exam - Questions & Correct Answers

Define the following insurance terms. Bill of Lading Documents issued by carriers responsible for transporting or forwarding goods Constructive Total Loss (MARINE INSURANCE) Occurs when the cost of salvaging the cargo is too high relative to the value saved Working Capital Amounts of funds available to pay continuing business operating expenses until payment is received for work being undertaken by the contractor Penalty (SURETY BOND) Amount of credit given to the principal by the surety ...

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...