Caib 1 definitions - Study guides, Class notes & Summaries

Caib 1 Chapter 1 questions / definitions with 100% correct answers Identify 4 possible options to deal with Risk , describe each - Answer- Control the Risk ( loss control measures) Avoid the Risk ( rent Rather than buy ) Retain the risk ( self insurance or share risk through deductibles) Transfer the Risk ( purchase insurance ) Out of the 4 means of managing risk, which is the most practical? - Answer- Transfer of Risk Identify the 5 elements required in all types of contracts - Answer-...

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 1 Chapter 1 questions / definitions with 100% correct answersCaib 1 Chapter 1 questions / definitions with 100% correct answers Identify 4 possible options to deal with Risk , describe each - Answer- Control the Risk ( loss control measures) Avoid the Risk ( rent Rather than buy ) Retain the risk ( self insurance or share risk through deductibles) Transfer the Risk ( purchase insurance ) Out of the 4 means of managing risk, which is the most practical? - Answer- Transfer of Risk Identify th...

Identify 4 possible options to deal with Risk , describe each correct answersControl the Risk ( loss control measures) Avoid the Risk ( rent Rather than buy ) Retain the risk ( self insurance or share risk through deductibles) Transfer the Risk ( purchase insurance ) Out of the 4 means of managing risk, which is the most practical? correct answersTransfer of Risk Identify the 5 elements required in all types of contracts correct answersAgreement , Consideration , Legality of Object , Le...

CAIB 1 - Chapter 2 Practice Questions and Answers 100% Pass What are the 3 types of Homeowners Forms? - Answer- 1. Homeowners Basic 2. Homeowners Broad 3. Homeowners Comprehensive Who develops insurance forms? - Answer- Insurance Bureau of Canada What types of risks are now eligible for coverage? - Answer- 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 characterist...

CAIB 1 - Chapter 2 Practice Questions and Answers 100% Pass What are the 3 types of Homeowners Forms? - Answer- 1. Homeowners Basic 2. Homeowners Broad 3. Homeowners Comprehensive Who develops insurance forms? - Answer- Insurance Bureau of Canada What types of risks are now eligible for coverage? - Answer- 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 characterist...