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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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- Exam (elaborations)
- • 4 pages •
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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- Exam (elaborations)
- • 9 pages •
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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- Exam (elaborations)
- • 6 pages •
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...
- Package deal
- Exam (elaborations)
- • 2 pages •
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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- Exam (elaborations)
- • 3 pages •
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...
Earth Science Exam Review 2024 with Complete Solutions
Hondros Nursing 172 Exam 2 Questions and Answers 100% Pass
Oregon Pesticide Examination: Ornamental and Turf Herbicide Questions and Answers 100% Pass
Xcel Solutions Property & Casualty Exam Questions and Answers
INSY-3303 FINAL EXAM STUDY GUIDE WITH COMPLETE SOLUTIONS
the answers are incorrect