Caib 4 chapter 1 Study guides, Class notes & Summaries
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CAIB 1 - CHAPTER 1-4 Exam Study Guide With Verified Solutions.
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CAIB 1 - CHAPTER 1-4 Exam Study 
Guide With Verified Solutions. 
Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating 
financial loss - answer-Equipment will not work 100% of the time 
-certain types of losses such as wind, hail and lightning cannot be effectively controlled 
People can choose to deal with risk in a variety of ways identify four possible options and 
provide a brief explanation of each - answerAvoid the risk - rent rather than buy 
C...
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CAIB 2 Chapter 4 Practice Test 1
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CAIB 2 Chapter 4 Practice Test 1 
Define Endorsement. - Answer ️️ -Endorsements change terms of existing policies 
Define Rider. - Answer ️️ -Riders add coverages to those all ready on policy 
Indicate Covered or Not Covered on Sign Form (C/NC) 
a) mechanical breakdown 
b) damage caused by power surge 
c) damage caused when dropped during installation 
d) damage caused by freezing 
e) damage caused by striking employees - Answer ️️ -a) NC mechanical breakdown 
b) NC damage caused by ...
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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 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 1 Chapter 4 Questions and Answers 2024
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CAIB 1 Chapter 4
And that's how you make extra money
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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 1 Chapter 6 Questions and Answers Graded A+
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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)...
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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 4 Practice Questions and Answers 100% Correct
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CAIB 1 Chapter 4 Practice Questions and 
Answers 100% Correct 
What area of law does Criminal Law address? - Answer- Criminal law deals with 
wrongs against society 
How does criminal law deal with violators? - Answer- Prosecute them in criminal courts 
with fines, imprisonment or probation 
What area of law does civil law or common law address? - Answer- Concerned with 
settling disputes between individuals or other legal entities in matters not involving a 
criminal act 
What is the goal of ci...
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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+ 
 
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 ...
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