Caib - Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Caib? On this page you'll find 1343 study documents about Caib.
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CAIB 1- KEY TERMS AND DEFINITIONS
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CAIB 1- KEY TERMS AND DEFINITIONS
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CAIB 1 Practice Exam Questions and Answers All Correct
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CAIB 1 Practice Exam 
Questions and Answers All 
Correct 
 
Insurers are in the business of assuming the financial risks of others which involves 
entering into a formal contract. A contract is enforceable at law only when all legal 
elements have been observed. Insurance contracts differ from other formal agreements 
and are subject to what three additional elements? - Answer-Insurable Interest 
Utmost Good Faith 
Indemnity 
Explain the meaning and disadvantage of the following approaches: Avoi...
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CAIB 3 Practice Exam Best Verified Study Guide 2023/2024
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QUESTIONS AND ANSWERS
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CAIB 1/CAIB 2 /CAIB 3/CAIB-4 Exam Bundle
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CAIB 2 Practice Exam Questions with correct Answers Practice Exam for CAIB 1 Questions with Verified Answers CAIB 1 Practice Exam (Questions and Answers) CAIB 1 Practice Exam (Multiple Choice) CAIB 1 Practice Questions (100) all with correct Answers CAIB 3 Practice Exam 2023 Questions and Answers Caib 4 Practice Final Exam 2023 CAIB 2 -
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CAIB 2 Questions with complete solution 2024
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CAIB 2 Questions with complete solution 2024 Your client, a retail fashion store, has just rented a business premises in a mall. Before opening your business, she plans to install new wall to wall carpeting and install wall paneling. These values would be insured under the amount provided for: 
 
A. Stock 
B. Equipment 
C. Building 
D. Business Interruption - correct answer B. Equipment 
 
While the law permits the insurer to surrogate against the party responsible for the loss, the insurer a...
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CAIB 2 Question and answers correctly solved 2024
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CAIB 2 Question and answers correctly solved 2024Identify 3 classes of property insured by commercial property insurance policies - correct answer Building, Equipment, Stock 
 
Identify 2 ways used to insure commercial property and a brief explanation of each - correct answer Scheduled coverage: only that property specifically identified or scheduled on the policy is insured 
All Property (formerly POED) a single limit of insurance is provided for building, stock, and equipment. 
 
Schedul...
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CAIB 1 Questions with complete solution 2024
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CAIB 1 Questions with complete solution 2024 Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating financial loss -correct 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 -correct answer Avoid the risk - rent rather than buy 
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CAIB 2 Immersion Questions with complete solution 2024
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CAIB 2 Immersion Questions with complete solution 2024 Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - correct answer Mechanical: Drills 
Thermal: Torches 
Explosion: Dynamite 
 
What is the purpose of Perimeter Protection? - correct answer To prevent access to the premises when the business is closed 
 
Define Partial Protection and provide two weaknesses to Partial Protection? - correct answer When only openings to the build...
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CAIB 2 Full Study Guide Question and answers rated A+ 2024
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CAIB 2 Full Study Guide Question and answers rated A+ 2024 The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - correct answer 1) the value of the lost or damaged property (ACV) 
 
2) the interest of the insured in the property (ex. financial interest, home, mortgage) 
 
3) the amount of insurance specified on the "Declarations Page" for the loss or damaged property (least amount|) 
 
Identify the four categories that buildi...
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Caib 2 Question and answers already passed 2024
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Caib 2 Question and answers already passed 2024warranty - correct answer A promise that certain facts are as they are represented to be and that they will remain so 
 
hazard - correct answer A condition which may cause a peril to occur 
 
Latent defect - correct answer A hidden or concealed defect, which cannot be discovered by reasonable and customary inspection 
 
Endorsement - correct answer Changes the terms or conditions of the insured's policy 
 
Messenger - correct answer ...
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