Caib 1 chapter 7 Study guides, Class notes & Summaries

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 - CHAPTER 6 Exam Questions and Answers 1) Convertibility; 2) Value; 3) Portability. - Answer ️️ -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) Employee theft....

CAIB 2 - Chapter 7 Questions and Answers 100% Pass 4 sources of business interruption & provide an example of each 1) physical damage to business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) transportation related accidents; rail car derailment 4) physical damage to neighbouring premises; anchor store burns down 3 sources of funding available to businesses when their operations are interrupted 1) reduce their capital reserves 2) take out a...

Identify the company which assumes the greatest portion of an account? (Ch. 1) - ANSWERLead company What is "reinsurance" (Ch. 1) - ANSWERReinsurance is when an insurance company "cedes" part of the risk to a reinsurer. What are three considerations used when determining amounts of indemnity? (ch 1) - ANSWER1. Actual cash value of property as it existed immediately prior to loss. 2. The interest of the insured in the property. 3. The amount of insurance as shown on the policy. Why d...

CAIB 2 - CHAPTER 6 Exam Questions and AnswersCAIB 2 - CHAPTER 6 Exam Questions and Answers 1) Convertibility; 2) Value; 3) Portability. - Answer ️️ -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...

CAIB 2 - CHAPTER 6 EXAM 1) Convertibility; 2) Value; 3) Portability. - Answer ️️ -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) Employee theft. - Answer ️️ -Meth...

CAIB 4 Chapter 7 Questions and Answers Already Passed Identify and briefly explain the four different types of relationships that can exist at different levels. Hands-on/High Involvement - These relationships are among the closest of relationships that clients can have with service providers. I.e. doctor, dentist, massage therapist. Face-to-face - This is another type of relationship that is characterized by client interaction with the company on a regular basis and in a personal envir...

CAIB 4 Chapter 4 Exam Questions and Answers 100% Correct Successful leadership results in knowledgeable, dedicated and motivated employees working effectively together to achieve the brokerage's mission, strategies, objectives and goals. Identify the six components of leading. - Answer- 1. Delegating 2. Motivating 3. Communicating 4. Managing conflict 5. Managing change 6. Coaching Delegating is the art of accomplishing objectives and achieving goals through the involvement of others...

CAIB 1 Chapter 6 Questions and Answers 100% Pass What is the minimum limit of Third Party Liability available in your province? - Answer- $200,000 How does an insured show proof of financial responsibility in your province - Answer- The "pink copy" of the certificate of registration Identify the Automobile coverages that are available in your province and indicate which are compulsory. - Answer- Auto Policy Limits - $200,000 Bodily Injury - $180,000 Property Damage - $20,000 All compu...

CAIB 2 - Chapter 7 Questions and Answers 100% Correct 4 sources of business interruption & provide an example of each - Answer- 1) physical damage to business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) transportation related accidents; rail car derailment 4) physical damage to neighbouring premises; anchor store burns down 3 sources of funding available to businesses when their operations are interrupted - Answer- 1) reduce their capital reser...