Caib 2 actual exam - Study guides, Class notes & Summaries

Your client, a retail fashion store, has just rented a business premises in a mall. Before opening your business, she plans to install new wall to wall carpeting and install wall paneling. These values would be insured under the amount provided for: A. Stock B. Equipment C. Building D. Business Interruption - B. Equipment

CAIB 2 – CHAPTER 1 EXAM WITH CORRECT ACTUAL QUESTIONS AND CORRECTLY WELL DEFINED ANSWERS LATEST 2024 – 2025 ALREADY GRADED A+

CAIB 2 - exam 2023/2024 with 100% correct answers Scheduled Coverage - CORRECT ANSWER refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - CORRECT ANSWER refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - CORRECT ANSWER building improvements, alterations and betterments made at the expense of or purchased by the insured to a building oc...

Practice Exam for CAIB 1 Latest 2023 latest update with complete solution 1. 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?: Insurable Interest Utmost Good Faith Indemnity 2. Explain the meaning and disadvantage of the following approac...

CAIB 2 Practice Exam Questions with Verified Answers Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? Is 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. losses which are generally considered by insurers to be commercially insurable: 1. Deliberate acts of violence -war, rebellion 2. losses ...

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 2 EXAM QUESTIONS CAIB 2 EXAM QUESTIONS WITH GUARANTEED ACCURATE ANSWERS|VERIFIED Scheduled Coverage - Accurate AnswerRefer to policy on which coverage is provided only on that property which is specifically identified or scheduled. Property of Every Description - Accurate AnswerRefers to policy used to insure buildings, stock and equipment under a single limit of insurance. All Property (Blanket) - Accurate AnswerA policy which under all property owned by the insured is covered...

CAIB 2 Practice Exam Questions and Answers 100% Correct Waivers of Co-insurance clause are common on commercial property policies. What types of losses are applicable to this waiver of co-insurance? Is 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. losses which are generally considered by insurers to be commercially insurable: 1. Deliberate acts of violence -war, rebellion 2. losses w...

CAIB 2 EXAM Questions and Answers (2024/2025)(Verified Answers) Scheduled Coverage refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are no...

CAIB 2 EXAM Questions and Answers (2024/2025)(Verified Answers) Scheduled Coverage refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are no...