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CAIB 1 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
CAIB 1 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
[Show more]CAIB 1 Bundled Exams Questions and Answers 100% Verified and Updated 2024 | Graded A
[Show more]CAIB 1 Chapter 6 Questions and 
Answers 100% Pass 
What is the minimum limit of Third Party Liability available in your province? - Answer- 
$200,000 
How does an insured show proof of financial responsibility in your province - Answer- 
The "pink copy" of the certificate of registration 
Identify...
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Add to cartCAIB 1 Chapter 6 Questions and 
Answers 100% Pass 
What is the minimum limit of Third Party Liability available in your province? - Answer- 
$200,000 
How does an insured show proof of financial responsibility in your province - Answer- 
The "pink copy" of the certificate of registration 
Identify...
CAIB 1 Chapter 3 Exam Questions and 
Answers 100% Pass 
Identify four perils that mobile homes are more susceptible to than conventional homes 
- Answer- 1. Fire 
2. Windstorms 
3. Hail 
4. Transportation 
Identify the purpose of "tie downs" - Answer- Secure the unit to the foundation so that it 
...
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Add to cartCAIB 1 Chapter 3 Exam Questions and 
Answers 100% Pass 
Identify four perils that mobile homes are more susceptible to than conventional homes 
- Answer- 1. Fire 
2. Windstorms 
3. Hail 
4. Transportation 
Identify the purpose of "tie downs" - Answer- Secure the unit to the foundation so that it 
...
CAIB 1 Practice Exam (Long Answer) 
100% Verified and Updated 2024 
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,...
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Add to cartCAIB 1 Practice Exam (Long Answer) 
100% Verified and Updated 2024 
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,...
CAIB 1 Chapter 7 Practice Questions and 
Answers 100% Pass 
Who is responsible for the administration of the insurance act in your province? - 
Answer- MB Government 
Outline the initial licensing requirements, whether there are different levels of licenses, 
the supervision requirements, and licens...
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Add to cartCAIB 1 Chapter 7 Practice Questions and 
Answers 100% Pass 
Who is responsible for the administration of the insurance act in your province? - 
Answer- MB Government 
Outline the initial licensing requirements, whether there are different levels of licenses, 
the supervision requirements, and licens...
CAIB 1 - Chapter 6 Practice Questions and 
Answers 100% Pass 
What types of claims are paid out under Death & Injury - Answer- 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 ...
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Add to cartCAIB 1 - Chapter 6 Practice Questions and 
Answers 100% Pass 
What types of claims are paid out under Death & Injury - Answer- 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 ...
CAIB 1 - Chapter 7 Questions and 
Answers 100% Correct 
What are 3 actions which demonstrate a brokers unethical conduct? - Answer- 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 
c...
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Add to cartCAIB 1 - Chapter 7 Questions and 
Answers 100% Correct 
What are 3 actions which demonstrate a brokers unethical conduct? - Answer- 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 
c...
CAIB 1 Practice Questions (100) with Correct 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 - Answer- d. An exchange of something of value 
A stock company is... 
a. A company that invests in o...
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Add to cartCAIB 1 Practice Questions (100) with Correct 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 - Answer- d. An exchange of something of value 
A stock company is... 
a. A company that invests in o...
CAIB 1 Chapter 4 Practice Questions and 
Answers 100% Correct 
What area of law does Criminal Law address? - Answer- Criminal law deals with 
wrongs against society 
How does criminal law deal with violators? - Answer- Prosecute them in criminal courts 
with fines, imprisonment or probation 
What ar...
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Add to cartCAIB 1 Chapter 4 Practice Questions and 
Answers 100% Correct 
What area of law does Criminal Law address? - Answer- Criminal law deals with 
wrongs against society 
How does criminal law deal with violators? - Answer- Prosecute them in criminal courts 
with fines, imprisonment or probation 
What ar...
CAIB 1 - Chapter 8 Practice Questions and 
Answers 100% Correct 
What is the need for travel insurance? - Answer- Provincial health plans don't cover 
certain costs - travel insurance provides coverage for these additional costs 
Discuss provincial medical plans in Canada - Answer- Most provinces h...
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Add to cartCAIB 1 - Chapter 8 Practice Questions and 
Answers 100% Correct 
What is the need for travel insurance? - Answer- Provincial health plans don't cover 
certain costs - travel insurance provides coverage for these additional costs 
Discuss provincial medical plans in Canada - Answer- Most provinces h...
CAIB 1 - Chapter 2 Practice Questions and 
Answers 100% Pass 
What are the 3 types of Homeowners Forms? - Answer- 1. Homeowners Basic 2. 
Homeowners Broad 3. Homeowners Comprehensive 
Who develops insurance forms? - Answer- Insurance Bureau of Canada 
What types of risks are now eligible for coverag...
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Add to cartCAIB 1 - Chapter 2 Practice Questions and 
Answers 100% Pass 
What are the 3 types of Homeowners Forms? - Answer- 1. Homeowners Basic 2. 
Homeowners Broad 3. Homeowners Comprehensive 
Who develops insurance forms? - Answer- Insurance Bureau of Canada 
What types of risks are now eligible for coverag...
CAIB 1 Chapter 5 Farm Insurance 
Questions and Answers 100% Verified 
Define farming - Answer- premises for crops and livestock 
roadside stands and farmers markets 
Three Basic differences between types of arms - Answer- 1) The product grown or 
produced 
2) Types of specialized machinery or equipm...
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Add to cartCAIB 1 Chapter 5 Farm Insurance 
Questions and Answers 100% Verified 
Define farming - Answer- premises for crops and livestock 
roadside stands and farmers markets 
Three Basic differences between types of arms - Answer- 1) The product grown or 
produced 
2) Types of specialized machinery or equipm...
CAIB 1 Practice Exam (Multiple Choice) 
Questions and Answers 100% Pass 
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 - Answer- B -...
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Add to cartCAIB 1 Practice Exam (Multiple Choice) 
Questions and Answers 100% Pass 
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 - Answer- B -...
CAIB 1 CH1 (Discussion Questions) with 
100% Correct Answers 100% Pass 
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 "neces...
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Add to cartCAIB 1 CH1 (Discussion Questions) with 
100% Correct Answers 100% Pass 
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 "neces...
CAIB 1 / CH 1 / SEC 1 / STUDY GUIDE 2024 QUESTIONS 
WITH COMPLETE SOLUTIONS 
Define in pure insurance terms "risk" - Answer- The chance of financial loss to which an 
object of insurance is exposed 
List the 3 categories of risk generally faced by people - Answer- Personal Risk; Property 
Risk; Li...
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Add to cartCAIB 1 / CH 1 / SEC 1 / STUDY GUIDE 2024 QUESTIONS 
WITH COMPLETE SOLUTIONS 
Define in pure insurance terms "risk" - Answer- The chance of financial loss to which an 
object of insurance is exposed 
List the 3 categories of risk generally faced by people - Answer- Personal Risk; Property 
Risk; Li...
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