Caib 2 chapter 1 2024 - Study guides, Class notes & Summaries

CAIB 2 Chapter 5 Practice Test 1 exam 2024/2025 with 100% correct answers

CAIB 2 Chapter 3 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers)

CAIB 1 Chapter 7 Question and answers 2024 verified to pass Who is responsible for the administration of the insurance act in your province - correct answer Insurance council of BC Ethics - correct answer the principals of conduct governing an individual or group Identify 3 temptations that could cause a broker to act unethically - correct answer 1) to sell more insurance than is needed 2) to sell higher priced coverage when lower pirice is available 3) to recommend a policy be...

CAIB 2 Chapter 1 Practice exam 2 WITH 100% COMPLETE SOLUTION 2024

CAIB 2 Chapter 1 Practice exam 1 Question and answers correctly solved 2024 Explain what it means to issue insurance on a scheduled basis - correct 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 - correct 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 - correct answe...

CAIB 2 - Chapter 2 Questions and Answers (2024/2025)(Verified Answers) 3 advantages of using a fact find or survey 1) Assists brokers when identifying potential losses 2) Assists brokers not to sell coverages the client does not need 3) Assists brokers in collecting information needed by insurance companies 3 benefits of commercial property checklists 1) Assists brokers when identifying potential losses 2) Assists brokers to make sure coverages are not overlooked 3) Assists brokers in re...

CAIB 2 - Chapter 2 Questions and Answers (2024/2025)(Verified Answers) 3 advantages of using a fact find or survey 1) Assists brokers when identifying potential losses 2) Assists brokers not to sell coverages the client does not need 3) Assists brokers in collecting information needed by insurance companies 3 benefits of commercial property checklists 1) Assists brokers when identifying potential losses 2) Assists brokers to make sure coverages are not overlooked 3) Assists brokers in re...

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 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers) Define Bailee for Hire. Person or organization who has temporary custody of the personal property of another for a purpose other than sale and who is compensated as a condition of such custody Identify three types of Bailees and provide an example of each. i) Repair of personal property example: Television repair shop ii) Storage of personal property example: Public storage warehouse iii) Delivery o...