Caib 2 b Study guides, Class notes & Summaries

CAIB 2 B

Scheduled Coverage - CORRECT ANSWER-refers to policy on which coverage is provided only on that property which is specifically identified or scheduled All Property - CORRECT ANSWER-refers to policy used to insure building, equipment and stock under a single limit of Insurance Tenants Improvement - CORRECT ANSWER-building improvements, alteration and betterments made at expense of or purchased by the insured to a building occupied by the insured and which are not otherwise insured, provided...

CAIB 1 Practice Questions (100) with Complete and Verified 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 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 b. A c...

CAIB 2 Questions with complete solution 2024 Your client, a retail fashion store, has just rented a business premises in a mall. Before opening your business, she plans to install new wall to wall carpeting and install wall paneling. These values would be insured under the amount provided for: A. Stock B. Equipment C. Building D. Business Interruption - correct answer B. Equipment While the law permits the insurer to surrogate against the party responsible for the loss, the insurer a...

CAIB 3 Chapter 3 Questions and Answers Rated A+ Identify, other than in Quebec two different systems used to insure automobiles in Canada 1. Private insurers 2. Compulsory government insurance plans Identify three types of Standard Policy Forms (SPF) that are used to insure vehicles 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 Policy forms developed by the ...