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CAIB 3 Exam Questions and Answers 100% Pass
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CAIB 3 Exam Questions and Answers 100% Pass 
Civil Law - Answer- the body of law concerned with civil or private rights and remedies, 
as contrasted with criminal law which deals with wrongs against society. 
Tort - Answer- a private or civil wrong or injury, other than breach of contract, for which 
the court will provide a remedy in the form of an award for damages. 
Breach of Contract - Answer- is the failure, without legal excuse to perform any promise 
which forms the whole or part of the c...
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CAIB 3 Chapter 5 Exam with Answers 100% Correct
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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...
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CAIB 3 Chapter 3 Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
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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 insurance industry for all types of automobile use...
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CAIB 3 Exam | Questions & 100% Correct Answers (Verified) | Latest Update | Grade A+
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Civil Law 
: the body of law concerned with civil or private rights and remedies, as contrasted 
with criminal law which deals with wrongs against society. 
Tort 
: a private or civil wrong or injury, other than breach of contract, for which the 
court will provide a remedy in the form of an award for damages. 
Breach of Contract 
: is the failure, without legal excuse to perform any promise which forms the whole 
or part of the contract. 
Rule of Precedent 
: basic concept in common law in w...
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CAIB 3 Practice Exam Questions With Verified & Correct Answers 2024|2025
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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...
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CAIB 3 FINAL EXAMINATION 2024 WITH 100% CORRECT ANSWERS
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Define the following insurance terms. 
Bill of Lading correct answersDocuments issued by carriers responsible for transporting or forwarding goods 
 
Constructive Total Loss (MARINE INSURANCE) correct answersOccurs when the cost of salvaging the cargo is too high relative to the value saved 
 
Working Capital correct answersAmounts of funds available to pay continuing business operating expenses until payment is received for work being undertaken by the contractor 
 
Penalty (SURETY BOND) correc...
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CAIB 3 exam 2024 with 100% complete solutions
- Exam (elaborations) • 6 pages • 2024
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Civil Law correct answersthe body of law concerned with civil or private rights and remedies, as contrasted with criminal law which deals with wrongs against society. 
 
Tort correct answersa private or civil wrong or injury, other than breach of contract, for which the court will provide a remedy in the form of an award for damages. 
 
Breach of Contract correct answersis the failure, without legal excuse to perform any promise which forms the whole or part of the contract. 
 
Rule of Precedent...
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CAIB 3 Practice Exam 2024 with 100% correct answers
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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 Compensation in money for the loss or damage suffered. 
 
Compensatory damages f...
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CAIB 3 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
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CAIB 3 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
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CAIB 3 Practice Exam Questions and Answers 100% Pass
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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...
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