Caib 1 chapter 1 4 Study guides, Class notes & Summaries

CAIB 1 Chapter 4 Questions and Answers 100% Pass What area of law does Criminal Law address? Criminal law deals with wrongs against society How does criminal law deal with violators? Prosecute them in criminal courts with fines, imprisonment or probation What area of law does civil law or common law address? Concerned with settling disputes between individuals or other legal entities in matters not involving a criminal act What is the goal of civil law? To seek compensation for...

CAIB 3 Chapter 3 Questions and Answers Rated A+ Identify, other than in Quebec two different systems used to insure automobiles in Canada 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles 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 Policy forms developed by the ...

CAIB 2 Chapter 4 Practice Test 1

CAIB 1 - Chapter 1 Questions and Answers Rated A+ Define "Risk" The chance of a financial loss to which the object of insurance may be exposed to List 3 Categories of Risk 1) Personal 2) Property 3) Liability List 4 Types of Risk Management Techniques 1) Risk Avoidance 2) Risk Retention 3) Risk Control 4) Risk Transfer Define "Risk Avoidance" To avoid doing something in order to eliminate the chance of risk Define "Risk Retention" To self-insure or to pay for losses the...

CAIB 1 - CHAPTER 1-4 Exam Study Guide With Verified Solutions. Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating financial loss - answer-Equipment will not work 100% of the time -certain types of losses such as wind, hail and lightning cannot be effectively controlled People can choose to deal with risk in a variety of ways identify four possible options and provide a brief explanation of each - answerAvoid the risk - rent rather than buy C...

CAIB 4 Chapter 1

CAIB 1 Chapter 3 Questions and Answers Already Passed Identify four perils that mobile homes are more susceptible to than conventional homes 1. Fire 2. Windstorms 3. Hail 4. Transportation Identify the purpose of "tie downs" Secure the unit to the foundation so that it remains stable during windstorms Explain the purpose of "dent clause" Excludes payment unless the exterior siding has been actually torn or punctured by the storm Identify 2 expenses included in the "Emer...

CAIB 2 Chapter 4 Practice Test 1 Define Endorsement. - Answer ️️ -Endorsements change terms of existing policies Define Rider. - Answer ️️ -Riders add coverages to those all ready on policy Indicate Covered or Not Covered on Sign Form (C/NC) a) mechanical breakdown b) damage caused by power surge c) damage caused when dropped during installation d) damage caused by freezing e) damage caused by striking employees - Answer ️️ -a) NC mechanical breakdown b) NC damage caused by ...

CAIB 2 - CHAPTER 6 IBABC (Questions And Answers) 100% Verified Review 1) Convertibility; 2) Value; 3) Portability. - ANS-Three factors of personal property that can help business owners determine loss potential from a criminal act. 1) Forced entry into building; 2) Forced entry into protected enclosures; 3) Unforced entry into building or protected enclosures; 4) Forced opening of building and protected enclosures; 5) Vandalism and mailicious acts; 6) Espionage; 7) Shoplifting; 8) E...

CAIB 4 Chapter 1 Questions and Answers with Complete Solutions.