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CAIB 2 Bundled Exams Questions and Answers Latest Versions (2024/2025) (Complete and Accurate)
CAIB 2 Bundled Exams Questions and Answers Latest Versions (2024/2025) (Complete and Accurate)
[Show more]CAIB 2 Bundled Exams Questions and Answers Latest Versions (2024/2025) (Complete and Accurate)
[Show more]CAIB 2 Chapter 7 Practice Test 1 
 
Graded A+ 
 
Provide four sources of Business Interruption losses and an example of each. i) Physical 
damage to business 
example: Fire destroys business and customers cannot make purchases 
ii) Failure of public utilities 
example: Ice storm damages power lines ...
Preview 2 out of 5 pages
Add to cartCAIB 2 Chapter 7 Practice Test 1 
 
Graded A+ 
 
Provide four sources of Business Interruption losses and an example of each. i) Physical 
damage to business 
example: Fire destroys business and customers cannot make purchases 
ii) Failure of public utilities 
example: Ice storm damages power lines ...
CAIB 2 - CHAPTER 2 QUESTIONS AND 
ANSWERS ALREADY PASSED 
 
"Submission." 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, financ...
Preview 2 out of 6 pages
Add to cartCAIB 2 - CHAPTER 2 QUESTIONS AND 
ANSWERS ALREADY PASSED 
 
"Submission." 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, financ...
CAIB 2 CHAPTER 4 QUESTIONS AND 
 
ANSWERS RATED A+ 
 
Breifly explain the fuctions or endorsements, riders, and separate policies 1. Endorsements; 
changes the terms or conditions of the insureds policy 
2. Riders; adds additional coverage to those already in place 
3. Separate policies; equipment b...
Preview 3 out of 17 pages
Add to cartCAIB 2 CHAPTER 4 QUESTIONS AND 
 
ANSWERS RATED A+ 
 
Breifly explain the fuctions or endorsements, riders, and separate policies 1. Endorsements; 
changes the terms or conditions of the insureds policy 
2. Riders; adds additional coverage to those already in place 
3. Separate policies; equipment b...
CAIB 2 - Chapter 6 Latest Update 
 
Graded A+ 
 
3 Considerations that make some property items "Target Items" and provide an explanation for 
each 1) Convertibility; the ease at which property can be sold and converted to cash 2) 
Value; higher valued articles are more attractive to thieves 3) Po...
Preview 2 out of 10 pages
Add to cartCAIB 2 - Chapter 6 Latest Update 
 
Graded A+ 
 
3 Considerations that make some property items "Target Items" and provide an explanation for 
each 1) Convertibility; the ease at which property can be sold and converted to cash 2) 
Value; higher valued articles are more attractive to thieves 3) Po...
CAIB 2 - Chapter 7 Questions and 
 
Answers 100% Pass 
 
4 sources of business interruption & provide an example of each 1) physical damage to 
business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) 
transportation related accidents; rail car derailment 4) ...
Preview 2 out of 8 pages
Add to cartCAIB 2 - Chapter 7 Questions and 
 
Answers 100% Pass 
 
4 sources of business interruption & provide an example of each 1) physical damage to 
business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) 
transportation related accidents; rail car derailment 4) ...
CAIB 2 Chapter 1 Practice Exam 1 Latest 
 
Update Graded A+ 
 
Explain what it means to issue insurance on a scheduled basis 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 
Building, stock and ...
Preview 1 out of 3 pages
Add to cartCAIB 2 Chapter 1 Practice Exam 1 Latest 
 
Update Graded A+ 
 
Explain what it means to issue insurance on a scheduled basis 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 
Building, stock and ...
CAIB 2 Chapter 2 Practice Exam 1 
 
Already Graded A 
 
What are three advantages using a fact find or survey? i) Assists brokers when identifying 
potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information needed by insurance com...
Preview 1 out of 3 pages
Add to cartCAIB 2 Chapter 2 Practice Exam 1 
 
Already Graded A 
 
What are three advantages using a fact find or survey? i) Assists brokers when identifying 
potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information needed by insurance com...
CAIB 2 - Chapter 1 Questions and 
Answers Already Passed 
 
Explain "Scheduled Basis" Only the items listed on the policy will be insured 
 
Explain "Property of Every Description" Basis Building, stock and equipment are insured 
under a single limit of insurance 
 
Explain "All Property (Blank...
Preview 2 out of 8 pages
Add to cartCAIB 2 - Chapter 1 Questions and 
Answers Already Passed 
 
Explain "Scheduled Basis" Only the items listed on the policy will be insured 
 
Explain "Property of Every Description" Basis Building, stock and equipment are insured 
under a single limit of insurance 
 
Explain "All Property (Blank...
CAIB 2 - Chapter 1 Questions and 
 
Answers Rated A+ 
 
The three amounts to be considered when calculating the amount of payment as outlined in the 
Indemnity Agreement are: 1) the value of the lost or damaged property (ACV) 
 
2) the interest of the insured in the property (ex. financial interest,...
Preview 3 out of 19 pages
Add to cartCAIB 2 - Chapter 1 Questions and 
 
Answers Rated A+ 
 
The three amounts to be considered when calculating the amount of payment as outlined in the 
Indemnity Agreement are: 1) the value of the lost or damaged property (ACV) 
 
2) the interest of the insured in the property (ex. financial interest,...
CAIB 2 Latest Version with Certified 
 
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, equipment and stock under a single 
limit of Insurance 
...
Preview 2 out of 13 pages
Add to cartCAIB 2 Latest Version with Certified 
 
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, equipment and stock under a single 
limit of Insurance 
...
CAIB 2 Questions and Answers Already 
 
Passed 
 
Scheduled Coverage Refer to policy on which coverage is provided only on that property 
which is specifically identified or scheduled 
 
Property of Every Description Refers to policy used to insure buildings, stock and equipment 
under a single limi...
Preview 2 out of 13 pages
Add to cartCAIB 2 Questions and Answers Already 
 
Passed 
 
Scheduled Coverage Refer to policy on which coverage is provided only on that property 
which is specifically identified or scheduled 
 
Property of Every Description Refers to policy used to insure buildings, stock and equipment 
under a single limi...
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 ...
Preview 3 out of 25 pages
Add to cartCAIB 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 ...
CAIB 2 - CHAPTER 1 QUESTIONS AND 
ANSWERS ALREADY PASSED 
 
Scheduled coverage. Only the property specifically listed or scheduled on the policy is 
insured. 
 
Property of Every Description (POED) coverage. Building, Stock and Equipment are insured 
under a single limit of insurance. 
 
All Propert...
Preview 2 out of 13 pages
Add to cartCAIB 2 - CHAPTER 1 QUESTIONS AND 
ANSWERS ALREADY PASSED 
 
Scheduled coverage. Only the property specifically listed or scheduled on the policy is 
insured. 
 
Property of Every Description (POED) coverage. Building, Stock and Equipment are insured 
under a single limit of insurance. 
 
All Propert...
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