Caib 3 final examination - Study guides, Class notes & Summaries
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CAIB 3 FINAL EXAMINATION QUESTIONS AND ANSWERS GRADED A
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CAIB 3 FINAL EXAMINATION QUESTIONS AND 
ANSWERS GRADED A 
Define the following insurance terms. 
Bill of Lading - Answer- Documents issued by carriers responsible for transporting or 
forwarding goods 
Constructive Total Loss (MARINE INSURANCE) - Answer- Occurs when the cost of 
salvaging the cargo is too high relative to the value saved 
Working Capital - Answer- Amounts of funds available to pay continuing business 
operating expenses until payment is received for work being undertaken by the ...
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CAIB 3 FINAL EXAMINATION
- Exam (elaborations) • 5 pages • 2023
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CAIB 3 FINAL EXAMINATION
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CAIB 3 FINAL EXAMINATION QUESTIONS AND ANSWERS
- Exam (elaborations) • 5 pages • 2023
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Available in package deal
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Define the following insurance terms. 
Bill of Lading - Answer- Documents issued by carriers responsible for transporting or forwarding goods 
 
Constructive Total Loss (MARINE INSURANCE) - Answer- Occurs when the cost of salvaging the cargo is too high relative to the value saved 
 
Working Capital - Answer- Amounts of funds available to pay continuing business operating expenses until payment is received for work being undertaken by the contractor 
 
Penalty (SURETY BOND) - Answer- Amount of c...
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CAIB 3 FINAL EXAMINATION QUESTIONS AND ANSWERS ALREADY PASSED
- Exam (elaborations) • 10 pages • 2024
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Define the following insurance terms. 
Bill of Lading Documents issued by carriers responsible for transporting or forwarding 
goods 
Constructive Total Loss (MARINE INSURANCE) Occurs when the cost of salvaging the 
cargo is too high relative to the value saved 
Working Capital Amounts of funds available to pay continuing business operating expenses 
until payment is received for work being undertaken by the contractor 
Penalty (SURETY BOND) Amount of credit given to the principal by the surety ...
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