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CAIB 2 - CHAPTER 2 QUESTIONS AND ANSWERS 100% CORRECT
CAIB 2 - CHAPTER 2 QUESTIONS AND ANSWERS 100% CORRECT "Submission." - Answer- A proposal for insurance that's presented to the underwriter for consideration. It can include an application, and additional verbal and written information (i.e., previous policy premium, loss details and history, financial statements and photos). Three purposes of survey forms. - Answer- 1) Assists to identify loss exposures; 2) Helps eliminate purchase of coverage that isn't needed; 3) Assists in develop...
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CAIB 2 - CHAPTER 2 QUESTIONS AND ANSWERS 100% CORRECT "Submission." - Answer- A proposal for insurance that's presented to the underwriter for consideration. It can include an application, and additional verbal and written information (i.e., previous policy premium, loss details and history, financial statements and photos). Three purposes of survey forms. - Answer- 1) Assists to identify loss exposures; 2) Helps eliminate purchase of coverage that isn't needed; 3) Assists in develop...
CAIB 2 Exam Questions and Answers 100% Pass
CAIB 2 Exam Questions and Answers 100% Pass Scheduled Coverage - Answer- refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer- refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer- building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are...
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CAIB 2 Exam Questions and Answers 100% Pass Scheduled Coverage - Answer- refers to policy on which coverage is provided only on that property which is specifically identified or scheduled. All Property - Answer- refers to policy used to insure building, stock and equipment under a single limit of insurance. Tenants Improvements - Answer- building improvements, alterations and betterments made at the expense of or purchased by the insured to a building occupied by the insured and which are...
CAIB 2 - Chapter 7 Questions and Answers 100% Correct
CAIB 2 - Chapter 7 Questions and Answers 100% Correct 4 sources of business interruption & provide an example of each - Answer- 1) physical damage to business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) transportation related accidents; rail car derailment 4) physical damage to neighbouring premises; anchor store burns down 3 sources of funding available to businesses when their operations are interrupted - Answer- 1) reduce their capital reser...
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CAIB 2 - Chapter 7 Questions and Answers 100% Correct 4 sources of business interruption & provide an example of each - Answer- 1) physical damage to business; fire destroys business 2) failure of public utilities; ice storm damages power lines 3) transportation related accidents; rail car derailment 4) physical damage to neighbouring premises; anchor store burns down 3 sources of funding available to businesses when their operations are interrupted - Answer- 1) reduce their capital reser...
CAIB 2 Chapter 2 Practice Exam 1 Questions and Answers 100% Pass
CAIB 2 Chapter 2 Practice Exam 1 Questions and Answers 100% Pass What are three advantages using a fact find or survey? - Answer- i) Assists brokers when identifying potential losses ii) Assists brokers not to sell coverages client does not need iii) Assists brokers in collecting information needed by insurance companies What are three benefits of commercial property checklists and which is most important to brokers? - Answer- i) Assists brokers when identifying potential losses ii) Assi...
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CAIB 2 Chapter 2 Practice Exam 1 Questions and Answers 100% Pass What are three advantages using a fact find or survey? - Answer- i) Assists brokers when identifying potential losses ii) Assists brokers not to sell coverages client does not need iii) Assists brokers in collecting information needed by insurance companies What are three benefits of commercial property checklists and which is most important to brokers? - Answer- i) Assists brokers when identifying potential losses ii) Assi...
CAIB 2 Chapter 7 Practice Test 1 100% Solved
CAIB 2 Chapter 7 Practice Test 1 100% Solved Provide four sources of Business Interruption losses and an example of each. - Answer- i) Physical damage to business example: Fire destroys business and customers cannot make purchases ii) Failure of public utilities example: Ice storm damages power lines and power cannot be restored for several weeks. This results in sales at the business to plummet iii) Transportation related accidents example: Railcar containing hazardous gas overturns cau...
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CAIB 2 Chapter 7 Practice Test 1 100% Solved Provide four sources of Business Interruption losses and an example of each. - Answer- i) Physical damage to business example: Fire destroys business and customers cannot make purchases ii) Failure of public utilities example: Ice storm damages power lines and power cannot be restored for several weeks. This results in sales at the business to plummet iii) Transportation related accidents example: Railcar containing hazardous gas overturns cau...
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INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
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