CAIB 1 Bundled Exams Questions and Answers 100% Verified and Updated | Graded A

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 ...

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...

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...

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...

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...

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...

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,...

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...

children's playgrounds or outdoor swimming pools (above & below ground). Coverage is also provided for materials and supplies located adjacent to the premises that are intended for use in the construction or repair of the insured dwelling (True or False) There is no coverage for outdoor trees & ...

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 ...

CAIB 1 - Chapter 1 Practice Questions and Answers 100% Correct Define "Risk" - Answer- The chance of a financial loss to which the object of insurance may be exposed to List 3 Categories of Risk - Answer- 1) Personal 2) Property 3) Liability List 4 Types of Risk Management Techniques - Answer...

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...

CAIB 1-Chapter 1 Practice Questions and Answers 100% Pass RISK - Answer- Chance of financial loss to which an object of insurance is exposed SPECULATIVE RISK - Answer- the chance of financial loss or gain PURE RISK - Answer- the chance of financial loss but no chance of financial gain INSURANCE...

CAIB 1 Exam Questions and Answers 100% Verified Risk - Answer- the chance of financial loss to which an object of insurance is exposed Speculative Risk - Answer- possibility of financial loss or gain Pure Risk - Answer- Chance of financial loss, no gain Insurance - Answer- undertaking by one per...