CAIB 2 - CHAPTER 2 Exam Questions With 100% Accurate Solutions
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Course
CAIB 2 - CHAPTER 2
Institution
CAIB 2 - CHAPTER 2
Three purposes of survey forms. - CORRECT ANSWER-1) Assists to identify loss exposures;
2) Helps eliminate purchase of coverage that isn't needed;
3) Assists in development of underwriting information the insurer needs.
Three advantages of using a property checklist with clients. - CORRECT ANS...
CAIB 2 - CHAPTER 2 Exam Questions
With 100% Accurate Solutions
Three purposes of survey forms. - CORRECT ANSWER-1) Assists to identify loss
exposures;
2) Helps eliminate purchase of coverage that isn't needed;
3) Assists in development of underwriting information the insurer needs.
Three advantages of using a property checklist with clients. - CORRECT ANSWER-1)
Alerts broker to possible loss exposures;
2) Ensures needed coverages are not overlooked;
2) Helps reduce potential for an E&O claim.
The age a building has to be for an insurer to request information about recent
renovations or upgrading. - CORRECT ANSWER-25 years or older.
The five kinds of building upgrades to a building that are likely of most interest to
insurers. - CORRECT ANSWER-1) Roof;
2) Wiring;
3) Over-current protection;
4) Plumbing;
5) Heating.
Five hazards common to most commercial property risks. - CORRECT ANSWER-1)
Heating;
2) Electrical services;
3) Detachment;
4) Protection;
5) Occupancy.
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