CAIB 1 Bundled Exams Questions and Answers Multiple Versions Latest Update (2024/2025) (Complete and Accurate)

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 ...

CAIB 1 Chapter 6 Questions and Answers Graded A+ What is the minimum limit of Third Party Liability available in your province? $200,000 How does an insured show proof of financial responsibility in your province The "pink copy" of the certificate of registration Identify the Automobi...

CAIB 1 - Chapter 7 Questions and Answers Rated A+ What are 3 actions which demonstrate a brokers unethical conduct? to sell more insurance than is needed, to sell higher priced coverages when equivalent coverage is available for a lower price, to recommend policies with a higher commission. ...

CAIB 1 Chapter 5 Farm Insurance Questions and Answers Graded A+ Define farming premises for crops and livestock roadside stands and farmers markets Three Basic differences between types of arms 1) The product grown or produced 2) Types of specialized machinery or equipment used 3) The type...

CAIB 1 - Chapter 8 Questions and Answers 100% Pass What is the need for travel insurance? Provincial health plans don't cover certain costs - travel insurance provides coverage for these additional costs Discuss provincial medical plans in Canada Most provinces have a reciprocal agreement...

CAIB 1 - Chapter 6 Questions and Answers Rated A+ What types of claims are paid out under Death & Injury court awards to innocent victims and their families, death benefits and funeral expenses, medical payments, rehabilitation costs, loss of income What types of claims are paid out under...

CAIB 1 Chapter 4 Questions and Answers 100% Pass What area of law does Criminal Law address? Criminal law deals with wrongs against society How does criminal law deal with violators? Prosecute them in criminal courts with fines, imprisonment or probation What area of law does civil law...

CAIB 1 Chapter 7 Questions and Answers Already Passed Who is responsible for the administration of the insurance act in your province? MB Government Outline the initial licensing requirements, whether there are different levels of licenses, the supervision requirements, and license terms in...

CAIB 1 - Chapter 2 Questions and Answers Graded A+ What are the 3 types of Homeowners Forms? 1. Homeowners Basic 2. Homeowners Broad 3. Homeowners Comprehensive Who develops insurance forms? Insurance Bureau of Canada What types of risks are now eligible for coverage? Dwellings containi...

CAIB 1 Practice Exam (Long Answer) Rated A+ Your clients suffered a fire loss totalling $87,555. When making the proof of loss, they claimed $1,500 for a stereo unit which they never owned. In the event that the fraud is discovered by the insurer, what portion of the claim, if any, is requir...

CAIB 1 / CH 1 / SEC 1 / STUDY GUIDE LATEST UPDATE GRADED A+ Define in pure insurance terms "risk" The chance of financial loss to which an object of insurance is exposed List the 3 categories of risk generally faced by people Personal Risk; Property Risk; Liability Risk State 4 possibl...

CAIB 1 CH1 (Discussion Questions) with Complete Solutions A broker friend told you that she recently sold a Tenants' Package Policy to a 16 year old who was attending university. It is your understanding that minors cannot enter into contracts for things not deemed to be the "necessities o...

CAIB 1 Practice Exam (Multiple Choice) Questions with Verified Solutions All of the following factors except one are used to determine the ACV of insured property. Pick the exception. A - condition of the object. B - sentimental value. C - re-sale value. D - normal life expectancy B - sen...

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 i...