CAIB 3 Chapter 3 Exam Questions and Answers 100% Pass
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Course
CAIB 3
Institution
CAIB 3
CAIB 3 Chapter 3 Exam Questions and
Answers 100% Pass
Identify, other than in Quebec two different systems used to insure automobiles in
Canada - Answer- 1. Private insurers
2. Compulsory government insurance plans
Identify three types of Standard Policy Forms (SPF) that are used to insure veh...
CAIB 3 Chapter 3 Exam Questions and
Answers 100% Pass
Identify, other than in Quebec two different systems used to insure automobiles in
Canada - Answer - 1. Private insurers
2. Compulsory government insurance plans
Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles -
Answer - SPF No 1. Owners Form
SPF No 4. Standard garage automobile policy
SPF No 6. Standard non -owned automobile policy
Briefly explain what is meant by standard policy forms - Answer - Policy forms developed
by the insurance industry for all types of automobile use
Identify three provinces were compulsory government insurance plans exist - Answer -
1. British Columbia
2. Saskatchewan
3. Manitoba
Identify three types of automobiles that can be insured on an SPF # 1 - Answer - Private
Passenger
Commercial vehicles (truck and delivery automobiles)
Public automobiles (buses and taxicabs)
Identify three ultimate limits that may be required by federal legislation depending on the
use of the vehicle - Answer - 1. Vehicle use out of the province $1,000,000 TPL
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2. Carriers of danger goods $2,000,000 TPL
3. Transported to the USA between $750,000 and $5,000,000 TPL
Identify the additional hazard faced by insurers of public vehicles - Answer - Increased
number of passengers being carried and that such vehicles are used continuously over
long periods of time
Identify the three sections of coverage available under the SPF # 1 - Answer - 1. Third -
party liability
2. Accident benefits
3. Physical damage
Identify five costs provided under section B - Accident Benefits - Answer - 1.
Reimbursement of reasonable medical expenses
2. Rehabilitation costs
3. Funeral expenses
4. Death benefit
5. Loss of income
Identify the four options available under Section C - Physical Damage - Answer - 1. All
perils
2. Collision or upset
3. Comprehensive
4. Specified perils
The SEF # 44 provides coverage for:
Caused by: - Answer - Injury and death
An underinsured motorist Powered by TCPDF (www.tcpdf.org)
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