Caib 2 stuvia - Study guides, Class notes & Summaries
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CAIB 2 Questions & Answers(RATED A+)
- Exam (elaborations) • 26 pages • 2024
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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 - ANSWERB. Equipment 
 
While the law permits the insurer to surrogate against the party responsible for the loss, the insurer agrees not to exercise that right in respect to certain pa...
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CAIB 2 Chapter 1-7 Review Questions & Answers 100% Correct!!
- Exam (elaborations) • 28 pages • 2024
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Identify the company which assumes the greatest portion of an account? (Ch. 1) - ANSWERLead company 
 
What is "reinsurance" (Ch. 1) - ANSWERReinsurance is when an insurance company "cedes" part of the risk to a reinsurer. 
 
What are three considerations used when determining amounts of indemnity? (ch 1) - ANSWER1. Actual cash value of property as it existed immediately prior to loss. 2. The interest of the insured in the property. 3. The amount of insurance as shown on the policy. 
 
Why d...
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CAIB 2 Full Study Guide Questions & Answers 100% Correct!!
- Exam (elaborations) • 63 pages • 2024
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The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) 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: - ANSWERResidential (ex. home) 
Non-mercantile (ex. ...
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CAIB 2 Immersion Correct Questions & Answers(GRADED A+)
- Exam (elaborations) • 27 pages • 2024
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Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - ANSWERMechanical: Drills 
Thermal: Torches 
Explosion: Dynamite 
 
What is the purpose of Perimeter Protection? - ANSWERTo prevent access to the premises when the business is closed 
 
Define Partial Protection and provide two weaknesses to Partial Protection? - ANSWERWhen only openings to the building are protected, such as windows and doors. 
Forced entry through walls or ceilings w...
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CAIB 2 Test Questions & Answers(RATED A+)
- Exam (elaborations) • 26 pages • 2024
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- $12.99
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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 - ANSWERB. Equipment 
 
While the law permits the insurer to surrogate against the party responsible for the loss, the insurer agrees not to exercise that right in respect to certain pa...
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Caib 2 Exam Questions & Answers Completely Solved
- Exam (elaborations) • 26 pages • 2024
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Scheduled Coverage - ANSWER-Refer to policy on which coverage is provided only on that property which is specifically identified or scheduled 
 
Property of Every Description - ANSWER-Refers to policy used to insure buildings, stock and equipment under a single limit of insurance 
 
All Property (Blanket) - ANSWER-A policy which under all property owned by the insured is covered or "blanketed" by a single limit of insurance 
 
Tenant Improvement - ANSWER-Building improvement, alteration and be...
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CAIB 2 Full Study Guide With Complete Solution
- Exam (elaborations) • 48 pages • 2024
- Available in package deal
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The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER-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: - ANSWER-Residential (ex. home) 
Non-mercantile (ex...
-
CAIB 2 Full Study Guide Questions & Answers 100% Accurate
- Exam (elaborations) • 63 pages • 2024
-
- $13.99
- + learn more
The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) 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: - ANSWERResidential (ex. home) 
Non-mercantile (ex. ...
-
CAIB 2 Immersion Questions & Answers(GRADED A)
- Exam (elaborations) • 27 pages • 2024
- Available in package deal
-
- $15.49
- + learn more
Identify three methods that can be used to gain access to a Protected Enclosure? Provide an example for each. - ANSWERMechanical: Drills 
Thermal: Torches 
Explosion: Dynamite 
 
What is the purpose of Perimeter Protection? - ANSWERTo prevent access to the premises when the business is closed 
 
Define Partial Protection and provide two weaknesses to Partial Protection? - ANSWERWhen only openings to the building are protected, such as windows and doors. 
Forced entry through walls or ceilings w...
-
CAIB 2 Full Study Guide Questions & Answers 100% Correct
- Exam (elaborations) • 63 pages • 2024
- Available in package deal
-
- $15.49
- + learn more
The three amounts to be considered when calculating the amount of payment as outlined in the Indemnity Agreement are: - ANSWER1) 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: - ANSWERResidential (ex. home) 
Non-mercantile (ex. ...
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