Caib 2 exam questions Study guides, Class notes & Summaries

CAIB 2 Exam Questions and Answers 100% Pass Scheduled Coverage - Answer- refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer- refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer- building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are...

Explain what an submission is and identify three types of information - ANSWER-A proposal for insurance which is presented to an underwriter for consideration. It can include an application, additional verbal info, additional written info. Identify three purposes served by survey forms - ANSWER-Assists to indenting loss exposures, helps eliminate the purchases of coverages the business doesn't need, assists in the development of underwriting information needed by insurers. State three adv...

CAIB 2 Exam Questions with Correct Answers Scheduled Coverage - Answer-refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer-refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer-building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which a...

CAIB 2 Exam Questions with Correct Answers Scheduled Coverage - Answer-refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer-refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer-building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are not...

CAIB 2 Exam Questions and Answers 100% Pass Scheduled Coverage - Answer- refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer- refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer- building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are...

3 conditions or obligations that insured owed before Replacement Cost Settlement payout is issued ( Payment after, Diligence ,Site ) - CORRECT ANSWER-1) payment is made after replacement work is completed 2) replacment work must be done in due diligence and dispatch 3) replacement must be at same site or adjacent site 6 insured duties during a crime loss ( n n 120 s oath securities ) - CORRECT ANSWER-1) notify authority 2) notify insurer 3) prepare proof of crime loss within 120 days of ...

CAIB 2 Exam Questions with Correct Answers Scheduled Coverage - Answer-refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer-refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer-building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are ...

Scheduled Coverage - refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - refers to policy used to insure building, stock and equipment under a single limit of insurance

warranty - ANSWER-A promise that certain facts are as they are represented to be and that they will remain so hazard - ANSWER-A condition which may cause a peril to occur Latent defect - ANSWER-A hidden or concealed defect, which cannot be discovered by reasonable and customary inspection Endorsement - ANSWER-Changes the terms or conditions of the insured's policy Messenger - ANSWER-The insured or a partner of the insured or any employee who is duly authorized by the insured to have...

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