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CAIB 1,2,3 & 4 Bundled Exams Questions and Answers Multiple Versions Latest Update (2024/2025) (Complete, Accurate, and Verified) $55.49   Add to cart

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CAIB 1,2,3 & 4 Bundled Exams Questions and Answers Multiple Versions Latest Update (2024/2025) (Complete, Accurate, and Verified)

CAIB 1,2,3 & 4 Bundled Exams Questions and Answers Multiple Versions Latest Update (2024/2025) (Complete, Accurate, and Verified)

45 items

Practice Exam for CAIB 1 Questions and Answers 100% Pass

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Practice Exam for CAIB 1 Questions and Answers 100% Pass 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 ot...

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CAIB 2 Chapter 7 Practice Test 1 Graded A+

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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 ...

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CAIB 2 - CHAPTER 2 QUESTIONS AND ANSWERS ALREADY PASSED

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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...

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CAIB 2 CHAPTER 4 QUESTIONS AND ANSWERS RATED A+

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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...

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CAIB 2 - Chapter 6 Latest Update Graded A+

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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...

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CAIB 2 - Chapter 7 Questions and Answers 100% Pass

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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) ...

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CAIB 2 Chapter 1 Practice Exam 1 Latest Update Graded A+

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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 ...

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CAIB 2 Chapter 2 Practice Exam 1 Already Graded A

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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...

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CAIB 2 - Chapter 1 Questions and Answers Already Passed

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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...

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CAIB 2 - Chapter 1 Questions and Answers Rated A+

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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,...

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CAIB 2 Latest Version with Certified Answers

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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 ...

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CAIB 2 Questions and Answers Already Passed

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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...

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CAIB 2 Practice Exam Questions with Verified Answers

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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 ...

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CAIB 2 - CHAPTER 1 QUESTIONS AND ANSWERS ALREADY PASSED

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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...

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CAIB 1 Chapter 3 Questions and Answers Already Passed

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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 ...

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CAIB 1 Chapter 6 Questions and Answers Graded A+

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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...

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CAIB 1 - Chapter 7 Questions and Answers Rated A+

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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. ...

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CAIB 1 Chapter 5 Farm Insurance Questions and Answers Graded A+

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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...

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CAIB 1 - Chapter 8 Questions and Answers 100% Pass

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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...

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CAIB 1 - Chapter 6 Questions and Answers Rated A+

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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...

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CAIB 1 Chapter 4 Questions and Answers 100% Pass

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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...

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CAIB 1 Chapter 7 Questions and Answers Already Passed

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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...

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CAIB 1 - Chapter 2 Questions and Answers Graded A+

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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...

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CAIB 1 Practice Exam (Long Answer) Rated A+

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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...

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CAIB 1 / CH 1 / SEC 1 / STUDY GUIDE LATEST UPDATE GRADED A+

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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...

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CAIB 1 CH1 (Discussion Questions) with Complete Solutions

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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...

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CAIB 1 Practice Exam (Multiple Choice) Questions with Verified Solutions

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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...

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CAIB 1 CHAPTER 1 QUESTIONS AND ANSWERS RATED A+

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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...

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CAIB 1 - Chapter 1 Questions and Answers Rated A+

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CAIB 1 - Chapter 1 Questions and Answers Rated A+ Define "Risk" The chance of a financial loss to which the object of insurance may be exposed to List 3 Categories of Risk 1) Personal 2) Property 3) Liability List 4 Types of Risk Management Techniques 1) Risk Avoidance 2) Risk Retenti...

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CAIB 1 QUESTIONS AND ANSWERS GRADED A+

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CAIB 1 QUESTIONS AND ANSWERS GRADED A+ Risk the chance of financial loss to which an object of insurance is exposed Speculative Risk possibility of financial loss or gain Pure Risk Chance of financial loss, no gain Insurance undertaking by one person to indemnify another person agains...

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CAIB 1-Chapter 1 Latest Update Graded A+

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CAIB 1-Chapter 1 Latest Update Graded A+ RISK Chance of financial loss to which an object of insurance is exposed SPECULATIVE RISK the chance of financial loss or gain PURE RISK the chance of financial loss but no chance of financial gain INSURANCE the undertaking by one person to ind...

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CAIB 1 Practice Questions (100) with Complete and Verified Answers

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CAIB 1 Practice Questions (100) with Complete and Verified Answers Consideration is... a. The law of insurance b. A promise between parties c. A contract's binding force d. An exchange of something of value d. An exchange of something of value A stock company is... a. A company that inv...

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CAIB 4 Chapter 7 Questions and Answers Already Passed

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CAIB 4 Chapter 7 Questions and Answers Already Passed Identify and briefly explain the four different types of relationships that can exist at different levels. Hands-on/High Involvement - These relationships are among the closest of relationships that clients can have with service providers. ...

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CAIB 4 Chapter 8 Latest Version with Complete Solutions

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CAIB 4 Chapter 8 Latest Version with Complete Solutions Technology development has had a major impact on the insurance industry. It has completely transformed the way information is recorded and transmitted between the parties involved in insurance transactions. Identify five functions that ...

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CAIB 4 - Chapter 2 Questions and Answers Rated A+

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CAIB 4 - Chapter 2 Questions and Answers Rated A+ Identify 3 elements to organizing effectively: 1. Creating an organizational structure. 2. Defining employee relationships. 3. Establishing position descriptions. Identify 3 basic forms of organizational structure based on the way authorit...

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CAIB 4 – Marketing Questions and Answers 100% Pass

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CAIB 4 – Marketing Questions and Answers 100% Pass Define positioning advantage Refers to how the brokerage is perceived by clients in relation to competing brokerages. "image of the brokerage" Positioning is in relation to other brokerages operating in the same environment Image is th...

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CAIB 4 Chapter 2 Questions and Answers Rated A+

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CAIB 4 Chapter 2 Questions and Answers Rated A+ Organizing involves determining the way the brokerage's activities will be divided into measurable units. Identify the three elements to organizing effectively. 1. Creating an Organizational Structure 2. Defining Employee Relationships 3. Es...

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CAIB 4 Chapter 4 Questions with Verified Solutions

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CAIB 4 Chapter 4 Questions with Verified Solutions Successful leadership results in knowledgeable, dedicated and motivated employees working effectively together to achieve the brokerage's mission, strategies, objectives and goals. Identify the six components of leading. 1. Delegating 2. M...

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CAIB 4 Chapter 2- Study Guide Questions with Complete Solutions

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CAIB 4 Chapter 2- Study Guide Questions with Complete Solutions Organizing involves determining the way the brokerage's activities will be divided into manageable units. Identify 3 elements to organizing effectively. 1. Creating an Organizational Structure 2. Defining employee relationships ...

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CAIB 4 - Book Practice Questions and Answers Already Passed

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CAIB 4 - Book Practice Questions and Answers Already Passed What are the similarities between a strategic plan and an action plan? They are both critical steps in the success of a brokerage They both flow from the mission statement They both use the same process (top down/bottom up) What...

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CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass

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CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass What guarantees are provided by various licence and permit bonds? 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety -The state of being sure, certain and secure. -"one who undertakes to pay money...

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CAIB 3 Chapter 3 Questions and Answers Rated A+

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CAIB 3 Chapter 3 Questions and Answers Rated A+ Identify, other than in Quebec two different systems used to insure automobiles in Canada 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles SPF N...

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CAIB 3 Chapter 1 Questions with Verified Solutions

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CAIB 3 Chapter 1 Questions with Verified Solutions Identify the two divisions in the Canadian Legal System Criminal Law Civil Law Should brokers always recommend clients questions concerning maters of law to a qualified legal practitioner? Yes Identify eight examples of criminal wrongs...

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CAIB 3 FINAL EXAMINATION QUESTIONS AND ANSWERS ALREADY PASSED

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CAIB 3 FINAL EXAMINATION QUESTIONS AND ANSWERS ALREADY PASSED Define the following insurance terms. Bill of Lading Documents issued by carriers responsible for transporting or forwarding goods Constructive Total Loss (MARINE INSURANCE) Occurs when the cost of salvaging the cargo is to...

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CAIB 3 Practice Exam Questions and Answers Already Passed

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CAIB 3 Practice Exam Questions and Answers Already Passed What is the name given to the collection of written decisions? Case Law Explain the concept of the Rule of Precedent. Current court decisions must follow those made in cases having similar circumstances, which allows the development...

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