Caib - Study guides, Class notes & Summaries

Consideration is... a. The law of insurance b. A promise between parties c. A contract's binding force d. An exchange of something of value - correct answer d. An exchange of something of value A stock company is... a. A company that invests in other companies b. A company owned by stockholders who provide the capital to start and run the company c. Is owned by customers of the company d. A company that owns livestock - correct answer b. A company owned by stockhold...

CAIB 2 Immersion Questions with complete solution 2024 Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - correct answer Mechanical: Drills Thermal: Torches Explosion: Dynamite What is the purpose of Perimeter Protection? - correct answer To prevent access to the premises when the business is closed Define Partial Protection and provide two weaknesses to Partial Protection? - correct answer When only openings to the build...

CAIB 2 Full Study Guide Question and answers rated A+ 2024 The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - correct answer 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 buildi...

Caib 2 Question and answers already passed 2024warranty - correct answer A promise that certain facts are as they are represented to be and that they will remain so hazard - correct answer A condition which may cause a peril to occur Latent defect - correct answer A hidden or concealed defect, which cannot be discovered by reasonable and customary inspection Endorsement - correct answer Changes the terms or conditions of the insured's policy Messenger - correct answer ...

CAIB 2 Practice Exam Questions And Answers Already Passed 100% 1 / 33 Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? Identify 3 reasons why exclusions exist on commercial property policy. Commercial property policies may provide coverage from theft while property is an automobiles. What warranty will be included in...

CAIB 2 EXAM QUESTIONS AND ANSWERS

CAIB III Question and answers 100% correct 2024 D. Is primarily concerned with the compensation of victims for their losses - correct answer The following statements respecting the brach of law known as "criminal law" are true except one. Pick the exception: A. Addresses wrongs directed against the state B. Authorities have a duty to prosecute and punish wrongdoers and are not required to wait for the victim to file formal charges before taking action C. Uses punitive sanctions as a m...

CAIB 1 Practice Questions (100) with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

CAIB 2 - Chapter 6 Exam Review Qs&As identify three types of crime losses to real property - ANS-vandalism malicious acts burglary and arson identify three reasons why some types of personal property become 'target items' - ANS- convertibility (the ease with which property can be converted to cash) value portability identify eight methods used by criminals which can result in loss to real and personal property - ANS- -forced entry into building and protected enclosures -unforced entr...

CAIB 2 Practice Exam Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test