Caib 1 practice questions - Study guides, Class notes & Summaries
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CAIB 1 Practice Questions (100) with Correct Answers
- Exam (elaborations) • 20 pages • 2024
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CAIB 1 Practice Questions (100) with Correct Answers 
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - Answer- d. An exchange of something of value 
A stock company is... 
a. A company that invests in other companies 
b. A company owned by stockholders who provide the capital to start and run the 
company 
c. Is owned by customers of the company 
d. A company that owns livestock - Answer- b. A compa...
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CAIB 1 Practice Questions | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 17 pages • 2024
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CAIB 1 Practice Questions | 100% Correct 
Answers | Verified | Latest 2024 Version 
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - d. An exchange of something of value 
 
A stock company is... 
a. A company that invests in other companies 
 
b. A company owned by stockholders who provide the capital to start and run the company 
 
c. Is owned by customers of the company 
 
d. A company that owns l...
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CAIB 1 - Chapter 1 Practice Questions and Answers 100% Correct
- Exam (elaborations) • 9 pages • 2024
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CAIB 1 - Chapter 1 Practice Questions and 
Answers 100% Correct 
Define "Risk" - Answer- The chance of a financial loss to which the object of insurance 
may be exposed to 
List 3 Categories of Risk - Answer- 1) Personal 2) Property 3) Liability 
List 4 Types of Risk Management Techniques - Answer- 1) Risk Avoidance 2) Risk 
Retention 3) Risk Control 4) Risk Transfer 
Define "Risk Avoidance" - Answer- To avoid doing something in order to eliminate the 
chance of risk 
Define "Risk Retention...
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CAIB 1 Practice Questions (100) WITH VERIFIED ANSWERS GRADED A+
- Exam (elaborations) • 12 pages • 2024
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Available in package deal
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CAIB 1 Practice Questions (100) WITH VERIFIED ANSWERS GRADED A+
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CAIB 1-Chapter 1 Practice Questions and Answers 100% Pass
- Exam (elaborations) • 4 pages • 2024
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CAIB 1-Chapter 1 Practice Questions and 
Answers 100% Pass 
RISK - Answer- Chance of financial loss to which an object of insurance is exposed 
SPECULATIVE RISK - Answer- the chance of financial loss or gain 
PURE RISK - Answer- the chance of financial loss but no chance of financial gain 
INSURANCE - Answer- the undertaking by one person to indemnify another person 
against loss or liability for loss in respect of a certain risk or peril to which the object of 
the insurance may be exposed...or...
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CAIB 1 Practice Exam Questions With Verified Answers Latest New Update & CAIB 1 Exam Practice Questions with Verified Answers | Latest 2024-2025 Graded A+
- Package deal • 2 items • 2024
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CAIB 1 Practice Exam Questions With Verified Answers Latest New Update & CAIB 1 Exam Practice Questions with Verified Answers | Latest 2024-2025 Graded A+

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CAIB 1 Practice Questions (100) A+ GUARANTEED
- Exam (elaborations) • 17 pages • 2023
- Available in package deal
-
- $13.49
- + learn more
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value correct answers d. An exchange of something of value 
 
A stock company is... 
a. A company that invests in other companies 
 
b. A company owned by stockholders who provide the capital to start and run the company 
 
c. Is owned by customers of the company 
 
d. A company that owns livestock correct answers b. A company owned by stockholders wh...
-
CAIB 1 Practice Questions (100) all with correct Answers
- Exam (elaborations) • 12 pages • 2023
-
Available in package deal
-
- $10.99
- + learn more
Consideration is... 
a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - Answer- d. An exchange of something of value 
 
A stock company is... 
a. A company that invests in other companies 
 
b. A company owned by stockholders who provide the capital to start and run the company 
 
c. Is owned by customers of the company 
 
d. A company that owns livestock - Answer- b. A company owned by stockholders who provide th...
-
CAIB 1 - Chapter 1 Practice Questions and Answers 100% Correct
- Exam (elaborations) • 9 pages • 2024
-
- $12.49
- + learn more
CAIB 1 - Chapter 1 Practice Questions and 
Answers 100% Correct 
Define "Risk" - Answer- The chance of a financial loss to which the object of insurance 
may be exposed to 
List 3 Categories of Risk - Answer- 1) Personal 2) Property 3) Liability 
List 4 Types of Risk Management Techniques - Answer- 1) Risk Avoidance 2) Risk 
Retention 3) Risk Control 4) Risk Transfer 
Define "Risk Avoidance" - Answer- To avoid doing something in order to eliminate the 
chance of risk 
Define "Risk Retention...
-
CAIB 1-Chapter 1 Practice Questions and Answers 100% Pass
- Exam (elaborations) • 4 pages • 2024
- Available in package deal
-
- $10.49
- + learn more
CAIB 1-Chapter 1 Practice Questions and 
Answers 100% Pass 
RISK - Answer- Chance of financial loss to which an object of insurance is exposed 
SPECULATIVE RISK - Answer- the chance of financial loss or gain 
PURE RISK - Answer- the chance of financial loss but no chance of financial gain 
INSURANCE - Answer- the undertaking by one person to indemnify another person 
against loss or liability for loss in respect of a certain risk or peril to which the object of 
the insurance may be exposed...or...
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