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

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 the amount of the financial loss or damage suffered by the ...

CAIB 4 Chapter 1

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 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 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 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 4 - Chapter 2 Questions and Answers Rated A+ Identify 3 elements to organizing effectively: 1. Creating an organizational structure. 2. Defining employee relationships. 3. Establishing position descriptions. Identify 3 basic forms of organizational structure based on the way authority and responsibility is delegated. 1. Line organization 2. Functional organization 3. Line and staff organization Identify which type of brokerage is best suited for a line organization and brie...

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 1 Chapter 6 Questions and Answers Graded A+ What is the minimum limit of Third Party Liability available in your province? $200,000 How does an insured show proof of financial responsibility in your province The "pink copy" of the certificate of registration Identify the Automobile coverages that are available in your province and indicate which are compulsory. Auto Policy Limits - $200,000 Bodily Injury - $180,000 Property Damage - $20,000 All compulsory in Manitoba (6-4)...