CAIB 2 Chapter 6 Practice Test 2 Bank Fully Solved
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Course
CAIB 2
Institution
CAIB 2
What are three types of property normally excluded or receive limited coverage
on commercial property insurance policies? - ANSWER-i) Money
ii) Furs
iii) Jewellery
List and explain the four areas addressed by Commercial Crime policies. - ANSWER-i) Property covered
Explanation: This section o...
CAIB 2 Chapter 6 Practice Test 2 Bank Fully
Solved
What are three types of property normally excluded or receive limited coverage
on commercial property insurance policies? - ANSWER-i) Money
ii) Furs
iii) Jewellery
List and explain the four areas addressed by Commercial Crime policies. - ANSWER-i)
Property covered
Explanation: This section of crime policies will identify type of property insured
such as money, jewellry or securities
ii) Perils insured
Explanation: This section of crime policies will identify types of perils insured,
such as robbery, burglary or theft
iii) Location of property covered
Explanation: This section of crime policies will identify whether coverage is
provided on premises only, or if coverage is also provided off premises
iv) Persons causing loss
Explanation: This section of crime policies will identify if only losses caused by
outsiders are insured, or if coverage is provided for losses caused by employees
Define Securities. - ANSWER-Securities mean all negotiable and non-negotiable
instruments or contracts
representing money or other property, and includes revenue and other stamps in
current use, tokens and tickets but does not include money
What is the criminal law definition of,
i) Robbery -
ii) Theft - - ANSWER-Robbery - Wrongful taking of property from possession of another
against their
will, accomplished by force or fear
Theft - All means of taking property without owner's consent
What are three coverages provided by Stock Burglary policy? - ANSWER-i) Actual or
attempted burglary of stock or equipment
ii) Robbery of a watchman
iii) Vandalism and malicious acts committed on the same occasion
Describe coverage provided for losses occurring from within showcases found in
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