Caib 2 chapter 5 - Study guides, Class notes & Summaries

CAIB 2 Chapter 5 Practice Test 1 Exam With 100% Correct Answers

CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass What guarantees are provided by various licence and permit bonds? - Answer- 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety - Answer- -The state of being sure, certain and secure. -"one who undertakes to pay money or to do any other act in event that his (the) principal fails therein." -Promises to answer for the default of the principal. Suretyship - Answer- A guarantee of performance made...

CAIB 3 - Chapter 5 - Surety Bonds Questions and Answers 100% Pass What guarantees are provided by various licence and permit bonds? - Answer- 1. Compliance Guarantees 2. Financial Guarantees 3. Credit Guarantees Surety - Answer- -The state of being sure, certain and secure. -"one who undertakes to pay money or to do any other act in event that his (the) principal fails therein." -Promises to answer for the default of the principal. Suretyship - Answer- A guarantee of performance made...

CAIB 2 Chapter 5 Practice Test 1 with Complete Solutions

CAIB 2 - CHAPTER 6 EXAM 1) Convertibility; 2) Value; 3) Portability. - Answer ️️ -Three factors of personal property that can help business owners determine loss potential from a criminal act. 1) Forced entry into building; 2) Forced entry into protected enclosures; 3) Unforced entry into building or protected enclosures; 4) Forced opening of building and protected enclosures; 5) Vandalism and mailicious acts; 6) Espionage; 7) Shoplifting; 8) Employee theft. - Answer ️️ -Meth...

CAIB 2 - Chapter 1 Questions and Answers Already Passed Explain "Scheduled Basis" Only the items listed on the policy will be insured Explain "Property of Every Description" Basis Building, stock and equipment are insured under a single limit of insurance Explain "All Property (Blanket)" Basis All property owned by the insured is insured under a single limit of insurance - this can include property at different locations and may be subject to co insurance Identify 5 compone...

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...

CAIB 4 Chapter 4 Questions with Verified Solutions Successful leadership results in knowledgeable, dedicated and motivated employees working effectively together to achieve the brokerage's mission, strategies, objectives and goals. Identify the six components of leading. 1. Delegating 2. Motivating 3. Communicating 4. Managing conflict 5. Managing change 6. Coaching Delegating is the art of accomplishing objectives and achieving goals through the involvement of others and by gi...

CAIB 1 Chapter 5 Farm Insurance Questions and Answers Graded A+ Define farming premises for crops and livestock roadside stands and farmers markets Three Basic differences between types of arms 1) The product grown or produced 2) Types of specialized machinery or equipment used 3) The types of buildings required Identify the 4 coverages generally provided by most farm policies 1) dwelling building and personal property 2) Major outbuildings and contents 3) Machinery and equipment...