Caib 2 chapter 1 exam - Study guides, Class notes & Summaries

CAIB 4 - Chapter 2 Exam Questions and Answers 100% Pass Identify 3 elements to organizing effectively: - Answer- 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. - Answer- 1. Line organization 2. Functional organization 3. Line and staff organization Identify which type of brokerage is best suited for a line or...

CAIB 3 Chapter 3 Exam Questions and Answers 100% Pass Identify, other than in Quebec two different systems used to insure automobiles in Canada - Answer- 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles - Answer- SPF No 1. Owners Form SPF No 4. Standard garage automobile policy SPF No 6. Standard non-owned automobile policy Briefly explain what is meant by standard policy forms - Answer- Pol...

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

CAIB 4 Chapter 2 Exam Questions and Answers 100% Pass Organizing involves determining the way the brokerage's activities will be divided into measurable units. Identify the three elements to organizing effectively. - Answer- 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 responsibilit...

CAIB 2 Chapter 1 Practice exam 2 with 100% correct answers Identify the company which assumes the greatest portion of an accountanswerLead Company What is re-insuranceansweran insurance company 'ceding' part of the risk to a re-insurer What are three considerations used when determining amounts of indemnity?answeri) 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 insurance as shown on the p...

CAIB 3 Chapter 3 Exam Questions and Answers 100% Pass Identify, other than in Quebec two different systems used to insure automobiles in Canada - Answer- 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles - Answer- SPF No 1. Owners Form SPF No 4. Standard garage automobile policy SPF No 6. Standard non-owned automobile policy Briefly explain what is meant by standard policy forms - Answer- Pol...

CAIB 2 Chapter 1 Practice exam 1 Questions and Answers (2024/2025)(Verified Answers) Explain what it means to issue insurance on a scheduled basis Only the property listed or scheduled on the policy is insured Explain what is meant to issue insurance on the basis of Property of Every Description Building, stock and equipment are insured under a single limit of insurance Explain what it means to issue insurance on an all property (blanket) basis All property owned by the insured is ...

CAIB 1 Chapter 3 Exam Questions and Answers 100% Pass Identify four perils that mobile homes are more susceptible to than conventional homes - Answer- 1. Fire 2. Windstorms 3. Hail 4. Transportation Identify the purpose of "tie downs" - Answer- Secure the unit to the foundation so that it remains stable during windstorms Explain the purpose of "dent clause" - Answer- Excludes payment unless the exterior siding has been actually torn or punctured by the storm Identify 2 expenses in...

CAIB 2 Chapter 1 Practice exam 1 with Complete Solutions

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