Caib 2 chapter 1 - Study guides, Class notes & Summaries
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CAIB 2 Chapter 5 Practice Test 1 Questions and answers | With complete solution 2024/25 RATED A+
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CAIB 2 Chapter 5 Practice Test 1 Questions and answers | With complete solution 2024/25 RATED A+
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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 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 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 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 1 - Chapter 2 Practice Questions and Answers 100% Pass
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CAIB 1 - Chapter 2 Practice Questions and 
Answers 100% Pass 
What are the 3 types of Homeowners Forms? - Answer- 1. Homeowners Basic 2. 
Homeowners Broad 3. Homeowners Comprehensive 
Who develops insurance forms? - Answer- Insurance Bureau of Canada 
What types of risks are now eligible for coverage? - Answer- 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 characterist...
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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+ 
 
Organizing involves determining the way the brokerage's activities will be divided into 
measurable units. Identify the three elements to organizing effectively. 1. Creating an 
Organizational Structure 
2. Defining Employee Relationships 
3. Establishing Position Descriptions 
 
The organizational structure is the skeleton upon which the brokerage grows and interacts. The 
structure also defines who has authority and responsibility for acti...
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CAIB 2 Chapter 2 Practice Exam 1 (Quizzes & Ans)
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CAIB 2 Chapter 2 Practice Exam 1 (Quizzes & Ans)
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CAIB 1 - Chapter 2 Practice Questions and Answers 100% Pass
- Exam (elaborations) • 9 pages • 2024
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CAIB 1 - Chapter 2 Practice Questions and 
Answers 100% Pass 
What are the 3 types of Homeowners Forms? - Answer- 1. Homeowners Basic 2. 
Homeowners Broad 3. Homeowners Comprehensive 
Who develops insurance forms? - Answer- Insurance Bureau of Canada 
What types of risks are now eligible for coverage? - Answer- 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 characterist...
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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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