Caib iii Study guides, Class notes & Summaries
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CAIB 1 Chapter 4 Practice Questions and Answers 100% Correct
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CAIB 1 Chapter 4 Practice Questions and 
Answers 100% Correct 
What area of law does Criminal Law address? - Answer- Criminal law deals with 
wrongs against society 
How does criminal law deal with violators? - Answer- Prosecute them in criminal courts 
with fines, imprisonment or probation 
What area of law does civil law or common law address? - Answer- Concerned with 
settling disputes between individuals or other legal entities in matters not involving a 
criminal act 
What is the goal of ci...
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CAIB 2 Chapter 6 Practice Test 2- solved
- Exam (elaborations) • 3 pages • 2024
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CAIB 2 Chapter 6 Practice Test 2- solved 
What are three types of property normally excluded or receive limited coverage 
on commercial property insurance policies? - Answer ️️ -i) Money 
ii) Furs 
iii) Jewellery 
List and explain the four areas addressed by Commercial Crime policies. - Answer ️️ -i) 
Property covered 
Explanation: This section of crime policies will identify type of property insured 
such as money, jewellry or securities 
ii) Perils insured 
Explanation: This section of...
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CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers)
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CAIB 2 Chapter 1 Practice exam 2 Questions and Answers (2024/2025)(Verified Answers) 
Identify the company which assumes the greatest portion of an account 
Lead Company 
 
 
What is re-insurance 
an insurance company 'ceding' part of the risk to a re-insurer 
 
 
What are three considerations used when determining amounts of indemnity? 
i) Actual Cash Value of the property as it existed immediately prior to the loss 
ii) The interest of the insured in the property 
iii) The amount of insuranc...
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CAIB 1 Chapter 7 Practice Questions and Answers 100% Pass
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CAIB 1 Chapter 7 Practice Questions and 
Answers 100% Pass 
Who is responsible for the administration of the insurance act in your province? - 
Answer- MB Government 
Outline the initial licensing requirements, whether there are different levels of licenses, 
the supervision requirements, and license terms in your province. - Answer- Insurance 
license required. CAIB 1 with supervision 
Outline the class of license issued in our province and whether this license would be 
valid in other province...
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CAIB 2 Chapter 7 Practice Test 2 Questions and Answers (2024/2025)(Verified Answers)
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CAIB 2 Chapter 7 Practice Test 2 Questions and Answers (2024/2025)(Verified Answers) 
What are two factors to consider when deciding which form of business 
interruption insurance to purchase? 
i) Nature of business 
ii) Types of perils most likely to cause losses 
 
 
When using old financial statements to establish amount of insurance, what 
problems could be encountered? 
Clients may be underinsured because future trends were not considered 
 
 
What type of employee salaries may not be consi...
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CAIB 2 Chapter 7 Practice Test 2 with 100% correct solutions
- Exam (elaborations) • 3 pages • 2024
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CAIB 2 Chapter 7 Practice Test 2 with 100% 
correct solutions 
What are two factors to consider when deciding which form of business 
interruption insurance to purchase? -answeri) Nature of business 
ii) Types of perils most likely to cause losses 
When using old financial statements to establish amount of insurance, what 
problems could be encountered? -answerClients may be underinsured because future trends 
were not considered 
What type of employee salaries may not be considered a "necessar...
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CAIB 2 Chapter 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers)
- Exam (elaborations) • 2 pages • 2024
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CAIB 2 Chapter 5 Practice Test 1 Questions and Answers (2024/2025)(Verified Answers) 
Define Bailee for Hire. 
Person or organization who has temporary custody of the personal property of 
another for a purpose other than sale and who is compensated as a condition of such custody 
 
 
Identify three types of Bailees and provide an example of each. 
i) Repair of personal property 
example: Television repair shop 
ii) Storage of personal property 
example: Public storage warehouse 
iii) Delivery o...
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CAIB 2 Chapter 2 Practice Exam 1 Questions and Answers 100% Pass
- Exam (elaborations) • 2 pages • 2024
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CAIB 2 Chapter 2 Practice Exam 1 
Questions and Answers 100% Pass 
What are three advantages using a fact find or survey? - Answer- i) Assists brokers 
when identifying potential losses 
ii) Assists brokers not to sell coverages client does not need 
iii) Assists brokers in collecting information needed by insurance companies 
What are three benefits of commercial property checklists and which is most important 
to brokers? - Answer- i) Assists brokers when identifying potential losses 
ii) Assi...
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CAIB 2 Chapter 7 Practice Test 2 Questions and Answers (2024/2025)(Verified Answers)
- Exam (elaborations) • 2 pages • 2024
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- $10.49
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CAIB 2 Chapter 7 Practice Test 2 Questions and Answers (2024/2025)(Verified Answers) 
What are two factors to consider when deciding which form of business 
interruption insurance to purchase? 
i) Nature of business 
ii) Types of perils most likely to cause losses 
 
 
When using old financial statements to establish amount of insurance, what 
problems could be encountered? 
Clients may be underinsured because future trends were not considered 
 
 
What type of employee salaries may not be consi...
-
CAIB 1 Chapter 4 Practice Questions and Answers 100% Correct
- Exam (elaborations) • 9 pages • 2024
- Available in package deal
-
- $12.49
- + learn more
CAIB 1 Chapter 4 Practice Questions and 
Answers 100% Correct 
What area of law does Criminal Law address? - Answer- Criminal law deals with 
wrongs against society 
How does criminal law deal with violators? - Answer- Prosecute them in criminal courts 
with fines, imprisonment or probation 
What area of law does civil law or common law address? - Answer- Concerned with 
settling disputes between individuals or other legal entities in matters not involving a 
criminal act 
What is the goal of ci...
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