Caib 1 chapter 3 - Study guides, Class notes & Summaries

CAIB Exam 1- Chapter 3 with Complete Solutions

CAIB 4 Chapter 8 Latest Version with Complete Solutions Technology development has had a major impact on the insurance industry. It has completely transformed the way information is recorded and transmitted between the parties involved in insurance transactions. Identify five functions that the effective utilization of technology will allow brokers to realize. 1. Improve client service levels 2. Store information safely and convenietly 3. Reduce operating costs 4. Handle large volu...

CAIB 4 Chapter 2- Study Guide Questions with Complete Solutions Organizing involves determining the way the brokerage's activities will be divided into manageable units. 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- best suited for smaller b...

CAIB 2 - CHAPTER 1 Questions And Answers 100% Verified Only the property specifically listed or scheduled on the policy is insured. - ANS-Scheduled coverage. Building, Stock and Equipment are insured under a single limit of insurance. - ANS-Property of Every Description (POED) coverage. All property owned by the insured is covered or "blanketed" by a single limit of insurance. (May insure property at more than one location.) - ANS-All Property (Blanket) coverage. 1) Building 2) Equi...

CAIB 2 - CHAPTER 1 QUESTIONS AND ANSWERS ALREADY PASSED Scheduled coverage. Only the property specifically listed or scheduled on the policy is insured. Property of Every Description (POED) coverage. Building, Stock and Equipment are insured under a single limit of insurance. All Property (Blanket) coverage. All property owned by the insured is covered or "blanketed" by a single limit of insurance. (May insure property at more than one location.) The three classes of property i...

CAIB 1 Chapter 7 Questions and Answers Already Passed Who is responsible for the administration of the insurance act in your province? MB Government Outline the initial licensing requirements, whether there are different levels of licenses, the supervision requirements, and license terms in your province. 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 provinces. CAIB, this is t...

CAIB 1 - Chapter 2 Questions and Answers Graded A+ What are the 3 types of Homeowners Forms? 1. Homeowners Basic 2. Homeowners Broad 3. Homeowners Comprehensive Who develops insurance forms? Insurance Bureau of Canada What types of risks are now eligible for coverage? Dwellings containing more than one family, Insureds who own more than one dwelling, Mobile homes on full basements, dwellings in course of construction What are the common characteristics of Homeowners Forms? 1. C...

CAIB 1 Chapter 7 Question and answers already passed 2024 Who is responsible for the administration of the insurance act in your province? - correct answer MB Government Outline the initial licensing requirements, whether there are different levels of licenses, the supervision requirements, and license terms in your province. - correct answer Insurance license required. CAIB 1 with supervision Outline the class of license issued in our province and whether this license would be val...

CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024 Identify three leading causes of fires in Canada - correct answer 1. Arson or suspected arson 2. Failure or malfunction of mechanical or electrical equipment 3. Misuse of source of ignition Identify what information is requied by law to apper on all insurance polcies - correct answer 1. Name of parties to the contract 2. Policy period 3. Loss payable of payee 4. Summary of insurance coverages and amounts fo...

CAIB 3 Chapter 1 Exam Questions and Answers 100% Pass Identify the two divisions in the Canadian Legal System - Answer- Criminal Law Civil Law Should brokers always recommend clients questions concerning maters of law to a qualified legal practitioner? - Answer- Yes Identify eight examples of criminal wrongs - Answer- Certain uses of an automobile Possession and trafficking of drugs Murder Voluntary manslaughter Burglary, robbery and theft Price fixing Pollution of the air and water ...