Caib 2 actual exam - Study guides, Class notes & Summaries

CAIB 2 UPDATED Exam Questions and CORRECT Answers Scheduled Coverage - Correct ANSWER- refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Correct ANSWER- refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Correct ANSWER- building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occ...

CAIB 2 Exam Study Guide With Verified Solutions. Scheduled Coverage - answerrefers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - answerrefers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - answerbuilding improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are ...

CAIB 1 Exam Questions And Answers CAIB 1 Exam Questions And Answers Define "Insurable Interest" - ANS must be able to show that they'd be hurt financially from a loss Define "Utmost Good Faith" - ANS complete and total honesty of all parties - a higher degree of honesty Define "Indemnity" - ANS ensures people receive the actual amount of their loss, no more and no less Define "Void" - ANS to have never existed Define "Voidable" - ANS wronged party may...

CAIB 2 Exam Questions with Correct Answers 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 of insurance. Tenants Improvements - Answer-building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which a...

CAIB 2 Chapter 1 Practice Exam 1 Latest Update Graded A+ Explain what it means to issue insurance on a scheduled basis 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 Building, stock and equipment are insured under a single limit of insurance Explain what it means to issue insurance on an all property (blanket) basis All property owned by the insured is insured under a single limi...

CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers) Identify the company which assumes the greatest portion of an account Lead Company What is re-insurance an insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity? i) Actual Cash Value of the property as it existed immediately prior to the loss ii) The interest of the insured in the property iii) The amount of insuranc...

CAIB 2 Chapter 1 Practice exam 2 with 100% correct answers Identify the company which assumes the greatest portion of an accountanswerLead Company What is re-insuranceansweran insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity?answeri) Actual Cash Value of the property as it existed immediately prior to the loss ii) The interest of the insured in the property iii) The amount of insurance as shown on the p...

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- Building, stock and equipment are insured under a single limit of insurance Explain what it means to issue insurance on an all property (blanket) basis - Answer- All property owned by the insured ...

CAIB 2 Exam Questions with Correct Answers 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 of insurance. Tenants Improvements - Answer-building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are no...

CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers) Identify the company which assumes the greatest portion of an account Lead Company What is re-insurance an insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity? i) Actual Cash Value of the property as it existed immediately prior to the loss ii) The interest of the insured in the property iii) The amount of insuranc...