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CAIB 2 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
CAIB 2 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
[Meer zien]CAIB 2 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
[Meer zien]CAIB 2 Chapter 7 Practice Test 1 100% Solved 
Provide four sources of Business Interruption losses and an example of each. - 
Answer- i) Physical damage to business 
example: Fire destroys business and customers cannot make purchases 
ii) Failure of public utilities 
example: Ice storm damages power...
Voorbeeld 1 van de 3 pagina's
In winkelwagenCAIB 2 Chapter 7 Practice Test 1 100% Solved 
Provide four sources of Business Interruption losses and an example of each. - 
Answer- i) Physical damage to business 
example: Fire destroys business and customers cannot make purchases 
ii) Failure of public utilities 
example: Ice storm damages power...
CAIB 2 Chapter 2 Practice Exam 1 
Questions and Answers 100% Pass 
What are three advantages using a fact find or survey? - Answer- i) Assists brokers 
when identifying potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information ne...
Voorbeeld 1 van de 2 pagina's
In winkelwagenCAIB 2 Chapter 2 Practice Exam 1 
Questions and Answers 100% Pass 
What are three advantages using a fact find or survey? - Answer- i) Assists brokers 
when identifying potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information ne...
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 derai...
Voorbeeld 2 van de 6 pagina's
In winkelwagenCAIB 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 derai...
CAIB 2 Exam Questions and Answers 100% Pass 
Scheduled Coverage - Answer- refers to policy on which coverage is provided only on 
that property which is specifically identified or scheduled. 
All Property - Answer- refers to policy used to insure building, stock and equipment 
under a single limit o...
Voorbeeld 2 van de 9 pagina's
In winkelwagenCAIB 2 Exam Questions and Answers 100% Pass 
Scheduled Coverage - Answer- refers to policy on which coverage is provided only on 
that property which is specifically identified or scheduled. 
All Property - Answer- refers to policy used to insure building, stock and equipment 
under a single limit o...
CAIB 2 - CHAPTER 2 QUESTIONS AND 
ANSWERS 100% CORRECT 
"Submission." - Answer- A proposal for insurance that's presented to the underwriter for 
consideration. It can include an application, and additional verbal and written 
information (i.e., previous policy premium, loss details and history, ...
Voorbeeld 1 van de 4 pagina's
In winkelwagenCAIB 2 - CHAPTER 2 QUESTIONS AND 
ANSWERS 100% CORRECT 
"Submission." - Answer- A proposal for insurance that's presented to the underwriter for 
consideration. It can include an application, and additional verbal and written 
information (i.e., previous policy premium, loss details and history, ...
CAIB 2 - Chapter 6 Exam Questions and 
Answers 100% Correct 
3 Considerations that make some property items "Target Items" and provide an 
explanation for each - Answer- 1) Convertibility; the ease at which property can be sold 
and converted to cash 2) Value; higher valued articles are more attra...
Voorbeeld 2 van de 7 pagina's
In winkelwagenCAIB 2 - Chapter 6 Exam Questions and 
Answers 100% Correct 
3 Considerations that make some property items "Target Items" and provide an 
explanation for each - Answer- 1) Convertibility; the ease at which property can be sold 
and converted to cash 2) Value; higher valued articles are more attra...
CAIB 2- Chapter 3 Questions and 
Answers 100% Pass 
identify the three leading causes of fires in canada - Answer- -failure or malfunction of 
mechanical or electrical equipment 
-arson, suspected arson and other set fires 
-misuse of source of ignition 
Identify what information is required by law ...
Voorbeeld 2 van de 12 pagina's
In winkelwagenCAIB 2- Chapter 3 Questions and 
Answers 100% Pass 
identify the three leading causes of fires in canada - Answer- -failure or malfunction of 
mechanical or electrical equipment 
-arson, suspected arson and other set fires 
-misuse of source of ignition 
Identify what information is required by law ...
CAIB 2 Chapter 1 Practice exam 1 
Questions and Answers 100% Pass 
Explain what it means to issue insurance on a scheduled basis - Answer- Only the 
property listed or scheduled on the policy is insured 
Explain what is meant to issue insurance on the basis of Property of Every Description - 
Answer...
Voorbeeld 1 van de 3 pagina's
In winkelwagenCAIB 2 Chapter 1 Practice exam 1 
Questions and Answers 100% Pass 
Explain what it means to issue insurance on a scheduled basis - Answer- Only the 
property listed or scheduled on the policy is insured 
Explain what is meant to issue insurance on the basis of Property of Every Description - 
Answer...
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 r...
Voorbeeld 3 van de 24 pagina's
In winkelwagenCAIB 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 r...
CAIB 2 Chapter 1 Practice exam 1 
Questions and Answers 100% Pass 
Explain what it means to issue insurance on a scheduled basis - Answer- Only the 
property listed or scheduled on the policy is insured 
Explain what is meant to issue insurance on the basis of Property of Every Description - 
Answer...
Voorbeeld 1 van de 3 pagina's
In winkelwagenCAIB 2 Chapter 1 Practice exam 1 
Questions and Answers 100% Pass 
Explain what it means to issue insurance on a scheduled basis - Answer- Only the 
property listed or scheduled on the policy is insured 
Explain what is meant to issue insurance on the basis of Property of Every Description - 
Answer...
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