Caib 1 chapter 4 Study guides, Class notes & Summaries
Looking for the best study guides, study notes and summaries about Caib 1 chapter 4? On this page you'll find 179 study documents about Caib 1 chapter 4.
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CAIB 1 CHAPTER 1 QUESTIONS AND ANSWERS RATED A+
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CAIB 1 CHAPTER 1 QUESTIONS AND 
 
ANSWERS RATED A+ 
 
Identify 4 possible options to deal with Risk , describe each Control the Risk ( loss control 
measures) 
Avoid the Risk ( rent Rather than buy ) 
Retain the risk ( self insurance or share risk through deductibles) 
Transfer the Risk ( purchase insurance ) 
 
Out of the 4 means of managing risk, which is the most practical? Transfer of Risk 
 
Identify the 5 elements required in all types of contracts Agreement , Consideration , 
Legality of ...
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CAIB 4 Chapter 2 Questions and Answers Rated A+
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CAIB 4 Chapter 2 Questions and 
 
Answers Rated A+ 
 
Organizing involves determining the way the brokerage's activities will be divided into 
measurable units. Identify the three elements to organizing effectively. 1. Creating an 
Organizational Structure 
2. Defining Employee Relationships 
3. Establishing Position Descriptions 
 
The organizational structure is the skeleton upon which the brokerage grows and interacts. The 
structure also defines who has authority and responsibility for acti...
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CAIB 1 - CHAPTER 1-4 EXAM 2024 WITH 100% CORRECT ANSWERS
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Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating financial loss correct answers-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 answersAvoid the risk - rent rather than buy 
Control the risk - loss control measures 
Retain t...
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CAIB 4 Chapter 8 Latest Version with Complete Solutions
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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...
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CAIB 3 Chapter 6 Exam Questions and Answers 100% Pass
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CAIB 3 Chapter 6 Exam Questions and 
Answers 100% Pass 
Identify the two dimensions of the risk management process - Answer- 1. A decision 
process 
2. A management or administrative process 
Identify the five steps in the decision making process - Answer- Step 1 - Identify & 
analyze loss exposure 
Step 2 - Examine alternative risk management techniques 
Step 3 - Select risk management techniques 
Step 4 - Implement techniques 
Step 5 - Monitor results 
Identify the four administrative areas in...
Too much month left at the end of the money?
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CAIB 2 - Chapter 1 Questions and Answers Rated A+
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CAIB 2 - Chapter 1 Questions and 
 
Answers Rated A+ 
 
The three amounts to be considered when calculating the amount of payment as outlined in the 
Indemnity Agreement are: 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 buildings may fall into: Re...
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CAIB 2 - CHAPTER 1 Questions And Answers 100% Verified
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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...
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CAIB 1 Chapter 7 Questions and Answers Already Passed
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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...
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CAIB 2 STUDY NOTES CHAPTER 3 Question and answers correctly solved 2024
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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...
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CAIB 2 Chapter 4 Practice Test 1
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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 ...
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