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CAIB 1 Bundled Exam Questions Package with Correct Answers
CAIB 1 Bundled Exam Questions Package with Correct Answers
[Show more]CAIB 1 Bundled Exam Questions Package with Correct Answers
[Show more]CAIB 1 Practice Questions (100) UPDATED 
Exam Questions and 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 - Correct ANSWER- d. An exchange of something of 
value 
A stock company...
Preview 2 out of 12 pages
Add to cartCAIB 1 Practice Questions (100) UPDATED 
Exam Questions and 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 - Correct ANSWER- d. An exchange of something of 
value 
A stock company...
CAIB 1 - Chapter 1 UPDATED Exam 
Questions and CORRECT Answers 
Define "Risk" - Correct ANSWER- The chance of a financial loss to which the object of 
insurance may be exposed to 
List 3 Categories of Risk - Correct ANSWER- 1) Personal 2) Property 3) Liability 
List 4 Types of Risk Management Tec...
Preview 2 out of 7 pages
Add to cartCAIB 1 - Chapter 1 UPDATED Exam 
Questions and CORRECT Answers 
Define "Risk" - Correct ANSWER- The chance of a financial loss to which the object of 
insurance may be exposed to 
List 3 Categories of Risk - Correct ANSWER- 1) Personal 2) Property 3) Liability 
List 4 Types of Risk Management Tec...
CAIB 1 - CHAPTER 1-4 UPDATED Exam 
Questions and CORRECT Answers 
Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating 
financial loss - Correct ANSWER- -Equipment will not work 100% of the time 
-certain types of losses such as wind, hail and lightning...
Preview 3 out of 19 pages
Add to cartCAIB 1 - CHAPTER 1-4 UPDATED Exam 
Questions and CORRECT Answers 
Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating 
financial loss - Correct ANSWER- -Equipment will not work 100% of the time 
-certain types of losses such as wind, hail and lightning...
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