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CAIB 2 Chapter 2 Practice Exam 1-Answered 100% Correct
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CAIB 2 Chapter 2 Practice Exam 1-Answered 100% Correct
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CAIB 2 Chapter 2 Practice Exam 1-Answered 100% Correct
What are three advantages using a fact find or survey? - ANSWER-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 companies
What are three benefits of commercial property checklists and which is most important to brokers? - ANSWER-i) Assists brokers when identifying potential losses
ii) Assists brokers to make sure coverages are not overlooked
iii) Assists brokers in reducing E&O losses
Explain characteristics of the following construction classes: Fire Resistive, Non-
combustable - ANSWER-a) Fire resistive means that the building has achieved standard set in hours to remain structurally sound when attacked by fires
b) Non-combustable means the building is slightly below standard of fire resistive structures
What are five areas Insurers request additional information when buildings are over 25 years old? - ANSWER-(WHORP)
Wiring, heating, over-current protection, roof, and Plumbing
What are five hazards common to commercial building? - ANSWER-(HOPED)
Heating, Occupancy, Protection, Electrical services, and Detachment
What type of wiring provides the best protection? - ANSWER-copper
What type of over-current protection provides the best protection? - ANSWER-
Automatic Circuit Breakers (ACB)
What is detachment? - ANSWER-This is the distance of insured building (or property) to
other commercially rated buildings
Describe two types of protection - ANSWER-i) Private Protection
These are steps insured has taken within the buildings to reduce frequency and severity
of losses such as sprinkler systems or fire extinguishers
ii) Public protection methods used by municipalities, or outside steps, such as fire departments
When buildings have no protection from local fire departments, what term is often used to describe these buildings? - ANSWER-Unprotected
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