Caib 1 Study guides, Class notes & Summaries
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CAIB 1 Chapter 6 Questions and Answers Graded A+
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CAIB 1 Chapter 6 Questions and 
 
Answers Graded A+ 
 
What is the minimum limit of Third Party Liability available in your province? $200,000 
 
How does an insured show proof of financial responsibility in your province The "pink 
copy" of the certificate of registration 
 
Identify the Automobile coverages that are available in your province and indicate which are 
compulsory. Auto Policy Limits - $200,000 Bodily Injury - $180,000 Property Damage - 
$20,000 
All compulsory in Manitoba (6-4)...
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CAIB 1 - CHAPTER 1-4 Exam Questions And Answers All Verified
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CAIB 1 - CHAPTER 1-4 Exam Questions And Answers All Verified 
 
Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating financial loss - ANS -Equipment will not work 100% of the time 
-certain types of losses such as wind, hail and lightning cannot be effectively controlled 
 
People can choose to deal with risk in a variety of ways identify four possible options and provide a brief explanation of each - ANS Avoid the risk - rent rather than buy ...
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CAIB 1 - CHAPTER 1-4 Exam Study Guide With Verified Solutions.
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CAIB 1 - CHAPTER 1-4 Exam Study 
Guide With Verified Solutions. 
Provide 1 reason why persons should not rely on control of risk as a total solution in eliminating 
financial loss - answer-Equipment will not work 100% of the time 
-certain types of losses such as wind, hail and lightning cannot be effectively controlled 
People can choose to deal with risk in a variety of ways identify four possible options and 
provide a brief explanation of each - answerAvoid the risk - rent rather than buy 
C...
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CAIB 1 - CHAPTER 1: INTRODUCTION TO GENERAL INSURANCE
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CAIB 1 - CHAPTER 1: INTRODUCTION TO GENERAL INSURANCE
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CAIB 1 – Comprehensive Study Guide
- Exam (elaborations) • 18 pages • 2023
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CAIB 1 – Comprehensive Study Guide
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CAIB 1 - Chapter 1 Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test
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CAIB 1 - Chapter 1 Questions with 100% 
Correct Answers | Latest Version 2024 | 
Expert Verified | Ace the Test
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CAIB 1 | 100 Questions and Answers(A+ Solution guide)
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a. The law of insurance 
b. A promise between parties 
c. A contract's binding force 
d. An exchange of something of value - Answer 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 - Answer b. A company owned by stockholders who provide the 
capital to start and run the company...
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CAIB 1 Practice Questions (100) with Correct Answers
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CAIB 1 Practice Questions (100) with Correct 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 - Answer- 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 - Answer- b. A compa...
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CAIB 1 Chapter 3 Questions and Answers Already Passed
- Exam (elaborations) • 12 pages • 2024
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CAIB 1 Chapter 3 Questions and 
Answers Already Passed 
 
Identify four perils that mobile homes are more susceptible to than conventional homes 1. 
Fire 
2. Windstorms 
3. Hail 
 
4. Transportation 
 
Identify the purpose of "tie downs" Secure the unit to the foundation so that it remains stable 
during windstorms 
 
Explain the purpose of "dent clause" Excludes payment unless the exterior siding has been 
actually torn or punctured by the storm 
 
Identify 2 expenses included in the "Emer...
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CAIB 1 CHAPTER 1 QUESTIONS AND ANSWERS RATED A+
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Identify 4 possible options to deal with Risk , describe each Control the Risk ( loss control 
measures) 
Avoid the Risk ( rent Rather than buy ) 
Retain the risk ( self insurance or share risk through deductibles) 
Transfer the Risk ( purchase insurance ) 
Out of the 4 means of managing risk, which is the most practical? Transfer of Risk 
Identify the 5 elements required in all types of contracts Agreement , Consideration , 
Legality of Object , Legal Capacity( are they old enough , sane , sobe...
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