Caib practice exam 2024 - Study guides, Class notes & Summaries

CAIB 2 PRACTICE EXAM CAIB 2 PRACTICE EXAM WITH GUARANTEED COMPLETE ANSWERS 2024|VERIFIED Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? - Accurate AnswerIs less than $5000 or Is less than 2% of the amount of insurance. (72,00 x 2%=1440) Identify 3 reasons why exclusions exist on commercial property policy. - Accurate Answerlosses which are generally considered by insurers to be commercially ...

CAIB 1 Practice Exam Questions With Verified Answers Latest New Update 2024 Graded A+. Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements? - Answer- Insurable Interest Utmost Good Faith Indemnity Explain the meaning and disadvantage of th...

CAIB Practice Exam 2024 Questions & Answers {Updated & Graded 100%} Sample Question & Answer: Identify two (2) other coverages included under C - Personal Property, which are not found in a Homeowners policy - Answer - Improvements or betterments made by or acquired at the expense of the tenant; $500 for damage (excluding fire damage) to the portion of the building occupied by the tenant resulting from theft or attempted theft; Damage caused to the interior of the building by vandalism or ...

CAIB 1 Practice Exam 2024 (Long Answer)

CAIB 2 Chapter 1 Practice exam 1 Questions and Answers (2024/2025)(Verified Answers)

CAIB 2 Chapter 5 Practice Test 1 exam 2024/2025 with 100% correct answers

What is the name given to the collection of written decisions? - correct answer Case Law Explain the concept of the Rule of Precedent. - correct answer Current court decisions must follow those made in cases having similar circumstances, which allows the development of a logical body of general principles against which specific cases to be compared. Explain the meaning of the term "damages". - correct answer Compensation in money for the loss or damage suffered. Compensatory damages f...

Practice Exam for CAIB 1 Questions with complete solution 2024 Insurers are in the business of assuming the financial risks of others which involves entering into a formal contract. A contract is enforceable at law only when all legal elements have been observed. Insurance contracts differ from other formal agreements and are subject to what three additional elements? - correct answer Insurable Interest Utmost Good Faith Indemnity Explain the meaning and disadvantage of the following app...