CAIB 2 Bundled Exams Questions and Answers 100% Verified and Updated | Graded A

CAIB 2 - CHAPTER 2 QUESTIONS AND ANSWERS 100% CORRECT "Submission." - Answer- A proposal for insurance that's presented to the underwriter for consideration. It can include an application, and additional verbal and written information (i.e., previous policy premium, loss details and history, ...

CAIB 2 Exam Questions and Answers 100% Pass Scheduled Coverage - Answer- refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer- refers to policy used to insure building, stock and equipment under a single limit o...

CAIB 2 Chapter 7 Practice Test 1 100% Solved Provide four sources of Business Interruption losses and an example of each. - Answer- i) Physical damage to business example: Fire destroys business and customers cannot make purchases ii) Failure of public utilities example: Ice storm damages power...

CAIB 2- Chapter 3 Questions and Answers 100% Pass identify the three leading causes of fires in canada - Answer- -failure or malfunction of mechanical or electrical equipment -arson, suspected arson and other set fires -misuse of source of ignition Identify what information is required by law ...

CAIB 2 - Chapter 6 Exam Questions and Answers 100% Correct 3 Considerations that make some property items "Target Items" and provide an explanation for each - Answer- 1) Convertibility; the ease at which property can be sold and converted to cash 2) Value; higher valued articles are more attra...

CAIB 2 Chapter 1 Practice exam 1 Questions and Answers 100% Pass Explain what it means to issue insurance on a scheduled basis - 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 - Answer...

CAIB 2 Practice Exam Questions and Answers 100% Correct Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? Is less than $5000 or Is less than 2% of the amount of insurance. (72,00 x 2%=1440) Identify 3 r...

CAIB 2 STUDY NOTES; CHAPTER 4 Questions and Answers 100% Pass Breifly explain the fuctions or endorsements, riders, and separate policies - Answer- 1. Endorsements; changes the terms or conditions of the insureds policy 2. Riders; adds additional coverage to those already in place 3. Separate p...

CAIB 2 - Chapter 7 Questions and Answers 100% Correct 4 sources of business interruption & provide an example of each - Answer- 1) physical damage to business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) transportation related accidents; rail car derai...

CAIB 2 Chapter 1 Practice exam 1 Questions and Answers 100% Pass Explain what it means to issue insurance on a scheduled basis - 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 - Answer...