Caib 1 chapter 2 Study guides, Class notes & Summaries

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...

CAIB 2 Chapter 1 Questions and Answers (2024/2025)(Verified Answers) The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: 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 building...

CAIB 2 Chapter 1 Practice exam 1 Questions and Answers (2024/2025)(Verified Answers)

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...

CAIB 2 Chapter 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers)

CAIB 1 Chapter 6 Questions and Answers Graded A+ What is the minimum limit of Third Party Liability available in your province? $200,000 How does an insured show proof of financial responsibility in your province The "pink copy" of the certificate of registration Identify the Automobile coverages that are available in your province and indicate which are compulsory. Auto Policy Limits - $200,000 Bodily Injury - $180,000 Property Damage - $20,000 All compulsory in Manitoba (6-4)...

CAIB 1 CHAPTER 1 QUESTIONS AND ANSWERS RATED A+ Identify 4 possible options to deal with Risk , describe each 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? Transfer of Risk Identify the 5 elements required in all types of contracts Agreement , Consideration , Legality of ...

CAIB 2 Chapter 2 Practice Exam 1 (Quizzes & Ans)

CAIB 2 Chapter 7 Practice Test 1 Graded A+ Provide four sources of Business Interruption losses and an example of each. i) Physical damage to business example: Fire destroys business and customers cannot make purchases ii) Failure of public utilities example: Ice storm damages power lines and power cannot be restored for several weeks. This results in sales at the business to plummet iii) Transportation related accidents example: Railcar containing hazardous gas overturns causing ev...

CAIB 2 Chapter 1 Practice Exam 1 (Qs & As) 2024