Caib 3 chapter 2 Study guides, Class notes & Summaries
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CAIB 2 CHAPTER 4 QUESTIONS AND ANSWERS RATED A+
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CAIB 2 CHAPTER 4 QUESTIONS AND 
 
ANSWERS RATED A+ 
 
Breifly explain the fuctions or endorsements, riders, and separate policies 1. Endorsements; 
changes the terms or conditions of the insureds policy 
2. Riders; adds additional coverage to those already in place 
3. Separate policies; equipment breakdown insurance, computer crime, other specialized 
coverages often purchased separately but can be added to existing policy 
 
Identify the endorsement, rider or policy to respond to the following...
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CAIB 3 Chapter 3 Questions and Answers Rated A+
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CAIB 3 Chapter 3 Questions and 
 
Answers Rated A+ 
 
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 
...
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CAIB 2- Chapter 3 questions with correct answers
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CAIB 2- Chapter 3 questions with correct answers
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CAIB 1 - Chapter 1 Questions and Answers Rated A+
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CAIB 1 - Chapter 1 Questions and 
 
Answers Rated A+ 
 
Define "Risk" The chance of a financial loss to which the object of insurance may be 
exposed to 
 
List 3 Categories of Risk 1) Personal 2) Property 3) Liability 
 
List 4 Types of Risk Management Techniques 1) Risk Avoidance 2) Risk Retention 3) Risk 
Control 4) Risk Transfer 
 
Define "Risk Avoidance" To avoid doing something in order to eliminate the chance of risk 
 
Define "Risk Retention" To self-insure or to pay for losses the...
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CAIB 4 - Chapter 2 Questions and Answers Rated A+
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CAIB 4 - Chapter 2 Questions and 
 
Answers Rated A+ 
 
Identify 3 elements to organizing effectively: 1. Creating an organizational structure. 
2. Defining employee relationships. 
3. Establishing position descriptions. 
 
Identify 3 basic forms of organizational structure based on the way authority and responsibility is 
delegated. 1. Line organization 
2. Functional organization 
3. Line and staff organization 
 
Identify which type of brokerage is best suited for a line organization and brie...
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CAIB 2 - CHAPTER 6 IBABC (Questions And Answers) 100% Verified Review
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CAIB 2 - CHAPTER 6 IBABC (Questions And Answers) 100% Verified Review 
1) Convertibility; 
2) Value; 
3) Portability. - ANS-Three factors of personal property that can help business owners determine 
loss potential from a criminal act. 
1) Forced entry into building; 
2) Forced entry into protected enclosures; 
3) Unforced entry into building or protected enclosures; 
4) Forced opening of building and protected enclosures; 
5) Vandalism and mailicious acts; 
6) Espionage; 
7) Shoplifting; 
8) E...
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CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass
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CAIB 3 - Chapter 5 - Surety Bonds 
Questions and Answers 100% Pass 
 
What guarantees are provided by various licence and permit bonds? 1. Compliance 
Guarantees 
2. Financial Guarantees 
3. Credit Guarantees 
 
Surety -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 A guarantee of performance made by one person or entity...
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CAIB 1 Chapter 3 Questions and Answers Already Passed
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CAIB 1 Chapter 3 Questions and 
Answers Already Passed 
 
Identify four perils that mobile homes are more susceptible to than conventional homes 1. 
Fire 
2. Windstorms 
3. Hail 
 
4. Transportation 
 
Identify the purpose of "tie downs" Secure the unit to the foundation so that it remains stable 
during windstorms 
 
Explain the purpose of "dent clause" Excludes payment unless the exterior siding has been 
actually torn or punctured by the storm 
 
Identify 2 expenses included in the "Emer...
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CAIB 4 Chapter 2 Questions and Answers Rated A+
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CAIB 4 Chapter 2 Questions and 
 
Answers Rated A+ 
 
Organizing involves determining the way the brokerage's activities will be divided into 
measurable units. Identify the three elements to organizing effectively. 1. Creating an 
Organizational Structure 
2. Defining Employee Relationships 
3. Establishing Position Descriptions 
 
The organizational structure is the skeleton upon which the brokerage grows and interacts. The 
structure also defines who has authority and responsibility for acti...
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CAIB 2 - Chapter 1 Questions And Answers Exam Review
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CAIB 2 - Chapter 1 Questions And Answers Exam Review 
The three amounts to be considered when calculating the amount of payment as outlined in the 
Indemnity Agreement are: - ANS-1) the value of the lost or damaged property (ACV) 
2) the interest of the insured in the property (ex. financial interest, home, mortgage) 
3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least 
amount|) 
Identify the four categories that buildings may fall into: - ...
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