Caib 2 chapter 4 Study guides, Class notes & Summaries
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CAIB 2 Chapter 4 Practice Test 2
![CAIB 4 Chapter 8 Latest Version with Complete Solutions](/docpics/4707774/65ecd55e1b358_4707774_121_171.jpeg)
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CAIB 4 Chapter 8 Latest Version with Complete Solutions
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CAIB 4 Chapter 8 Latest Version with 
 
Complete Solutions 
 
Technology development has had a major impact on the insurance industry. It has completely 
transformed the way information is recorded and transmitted between the parties involved in 
insurance transactions. Identify five functions that the effective utilization of technology will 
allow brokers to realize. 1. Improve client service levels 
 
2. Store information safely and convenietly 
3. Reduce operating costs 
4. Handle large volu...
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Bundle For CAIB Exam Questions with Correct Answers
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CAIB 3 Practice Exam Questions and Answers All Correct

2
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CAIB 1 Practice Exam Questions with Correct Answers

3
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CAIB 2 CHAPTER 1 Exam Questions and Correct Answers

4
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CAIB 1 Exam Questions with Correct Answers

5
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CAIB 3 Exam Questions with Correct Answers

6
Exam (elab
![CAIB 2 - Chapter 1 Questions and Answers Rated A+](/docpics/4700383/65eb77a7e5b59_4700383_121_171.jpeg)
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CAIB 2 - Chapter 1 Questions and Answers Rated A+
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CAIB 2 - Chapter 1 Questions and 
 
Answers Rated A+ 
 
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 buildings may fall into: Re...
![CAIB 2 STUDY NOTES; CHAPTER 4 Questions and Answers 100% Pass](/docpics/4750262/65f44e9451c7e_4750262_121_171.jpeg)
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CAIB 2 STUDY NOTES; CHAPTER 4 Questions and Answers 100% Pass
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CAIB 2 STUDY NOTES; CHAPTER 4 
Questions and Answers 100% Pass 
Breifly explain the fuctions or endorsements, riders, and separate policies - Answer- 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 respon...
![CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024](/docpics/4836066/66020886676a7_4836066_121_171.jpeg)
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CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024
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CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024 Identify three leading causes of fires in Canada - correct answer 1. Arson or suspected arson 
2. Failure or malfunction of mechanical or electrical equipment 
3. Misuse of source of ignition 
 
Identify what information is requied by law to apper on all insurance polcies - correct answer 1. Name of parties to the contract 
2. Policy period 
3. Loss payable of payee 
4. Summary of insurance coverages and amounts fo...
![CAIB 1 Chapter 7 Questions and Answers Already Passed](/docpics/4700500/65eb7a7c51b44_4700500_121_171.jpeg)
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CAIB 1 Chapter 7 Questions and Answers Already Passed
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CAIB 1 Chapter 7 Questions and 
Answers Already Passed 
 
Who is responsible for the administration of the insurance act in your province? MB 
Government 
 
Outline the initial licensing requirements, whether there are different levels of licenses, the 
supervision requirements, and license terms in your province. Insurance license required. 
CAIB 1 with supervision 
 
Outline the class of license issued in our province and whether this license would be valid in 
other provinces. CAIB, this is t...
![CAIB 3 Chapter 6 Exam Questions and Answers 100% Pass](/docpics/4829501/6602dcfe06f51_4829501_121_171.jpeg)
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CAIB 3 Chapter 6 Exam Questions and Answers 100% Pass
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CAIB 3 Chapter 6 Exam Questions and 
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Identify the two dimensions of the risk management process - Answer- 1. A decision 
process 
2. A management or administrative process 
Identify the five steps in the decision making process - Answer- Step 1 - Identify & 
analyze loss exposure 
Step 2 - Examine alternative risk management techniques 
Step 3 - Select risk management techniques 
Step 4 - Implement techniques 
Step 5 - Monitor results 
Identify the four administrative areas in...
![CAIB 1 - Chapter 2 Questions and Answers Graded A+](/docpics/4700504/65eb7a794d872_4700504_121_171.jpeg)
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CAIB 1 - Chapter 2 Questions and Answers Graded A+
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CAIB 1 - Chapter 2 Questions and 
 
Answers Graded A+ 
 
What are the 3 types of Homeowners Forms? 1. Homeowners Basic 2. Homeowners Broad 
3. Homeowners Comprehensive 
 
Who develops insurance forms? Insurance Bureau of Canada 
 
What types of risks are now eligible for coverage? Dwellings containing more than one 
family, Insureds who own more than one dwelling, Mobile homes on full basements, dwellings 
in course of construction 
 
What are the common characteristics of Homeowners Forms? 1. C...
![CAIB 2 - CHAPTER 1 QUESTIONS AND ANSWERS ALREADY PASSED](/docpics/4700410/65eb785c46159_4700410_121_171.jpeg)
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CAIB 2 - CHAPTER 1 QUESTIONS AND ANSWERS ALREADY PASSED
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CAIB 2 - CHAPTER 1 QUESTIONS AND 
ANSWERS ALREADY PASSED 
 
Scheduled coverage. Only the property specifically listed or scheduled on the policy is 
insured. 
 
Property of Every Description (POED) coverage. Building, Stock and Equipment are insured 
under a single limit of insurance. 
 
All Property (Blanket) coverage. All property owned by the insured is covered or 
"blanketed" by a single limit of insurance. (May insure property at more than one location.) 
 
The three classes of property i...
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