Page 1 of 112
CAIB 2 STUDY GUIDE EXAM NEWEST 2026 ACTUAL
EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALL ANSWERED
{370 Q & A} ALREADY GRADED A+ | 100%
GUARANTEED PASS
Which of the following statements are true or false with respect
to the earthquake endorsement - ✔✔✔ Correct Answer > 1. Coverage is
on an occurrence bases; true
2. Coverage period is restricted; true
3. Percentage deductible is uncommon; false
4. Amount of claim is not directly related to the amount of fire
insurance; false
in addition to jewellers block and furriers block policies, identify
three other dealer forms x - ✔✔✔ Correct Answer > fine art dealers
stamp and coin dealers
camera and musical instrument dealers
equipment dealers
automobile dealers
,Page 2 of 112
Identify the type of property covered under the consequential
loss assumption clause - ✔✔✔ Correct Answer > Stock items which
are temperature sensitive
Identify the three types of property that must be directly attacked
for coverage to respond - ✔✔✔ Correct Answer > 1. The refrigerating or
cooling apparatus
2. Its connections or supply pipes
3. Any apparatus furnishing power, on the premises
Identify the three types of expense covered by the by-law
endorsement - ✔✔✔ Correct Answer > 1. Increase in cost of
construction
2. Loss of value of the undamaged portion of the building
3. Cost of demolition of undamaged portion of the building and
associated debris removal costs
Identify five common off premises coverage - ✔✔✔ Correct Answer > 1.
Temporary locations
2. Buildings at newly acquired location
3. Contents at newly acquired location
4. Property in transit
,Page 3 of 112
5. Sales representative
Identify three instances when stock or equipment will be
considered to be at a temporary location - ✔✔✔ Correct Answer > 1. It
it not at any location specified on the policy
2. It is not in transit
3. It is not at any location owned, rented, or controlled in whole
or in part of the insured
Identify three examples of temporary locations - ✔✔✔ Correct Answer
> 1. Property of insured used at customers location on a pre-sale
trail basis
2. Property which belongs to insured and undergoing repair at
the business premises of others
3. Property being held for pick-up by the insured at a local
warehouse or depot
Identify which the following statements are true, and which are
false concerning newly acquired locations - ✔✔✔ Correct Answer > 1.
Coverage is for equipment; true
2. Coverage is for stock; true
3. Coverage is for buildings; true
4. Coverage is for up to 45 days; false
5. Coverage is also for in or on vehicles within 100 meters; false
, Page 4 of 112
Identify two advantages of purchasing parcel post insurance
from a broker rather than canada post - ✔✔✔ Correct Answer > 1.
Overall costs of coverage reduced
2. Claims usually settled more quickly.
Canada post insures each parcel separately, claims settlement
delayed to trace parcel and cause of loss
Identify the two limits of insurance found in the sales
representative form - ✔✔✔ Correct Answer > 1. Total limits insured
2. Maximum limit for any one representative
Identify three examples of where this coverage would respond -
✔✔✔ Correct Answer > 1. At the home of the sales representative
2. At the trade show or exhibition
3. In the sales representatives automobile and otherwise
Identify six miscellaneous endorsement form - ✔✔✔ Correct Answer >
1. Instalment sales contract floater
2. Peak season endorsement
3. Replacement cost endorsement
4. Inflation protection
5. Fire department charges
CAIB 2 STUDY GUIDE EXAM NEWEST 2026 ACTUAL
EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) ALL ANSWERED
{370 Q & A} ALREADY GRADED A+ | 100%
GUARANTEED PASS
Which of the following statements are true or false with respect
to the earthquake endorsement - ✔✔✔ Correct Answer > 1. Coverage is
on an occurrence bases; true
2. Coverage period is restricted; true
3. Percentage deductible is uncommon; false
4. Amount of claim is not directly related to the amount of fire
insurance; false
in addition to jewellers block and furriers block policies, identify
three other dealer forms x - ✔✔✔ Correct Answer > fine art dealers
stamp and coin dealers
camera and musical instrument dealers
equipment dealers
automobile dealers
,Page 2 of 112
Identify the type of property covered under the consequential
loss assumption clause - ✔✔✔ Correct Answer > Stock items which
are temperature sensitive
Identify the three types of property that must be directly attacked
for coverage to respond - ✔✔✔ Correct Answer > 1. The refrigerating or
cooling apparatus
2. Its connections or supply pipes
3. Any apparatus furnishing power, on the premises
Identify the three types of expense covered by the by-law
endorsement - ✔✔✔ Correct Answer > 1. Increase in cost of
construction
2. Loss of value of the undamaged portion of the building
3. Cost of demolition of undamaged portion of the building and
associated debris removal costs
Identify five common off premises coverage - ✔✔✔ Correct Answer > 1.
Temporary locations
2. Buildings at newly acquired location
3. Contents at newly acquired location
4. Property in transit
,Page 3 of 112
5. Sales representative
Identify three instances when stock or equipment will be
considered to be at a temporary location - ✔✔✔ Correct Answer > 1. It
it not at any location specified on the policy
2. It is not in transit
3. It is not at any location owned, rented, or controlled in whole
or in part of the insured
Identify three examples of temporary locations - ✔✔✔ Correct Answer
> 1. Property of insured used at customers location on a pre-sale
trail basis
2. Property which belongs to insured and undergoing repair at
the business premises of others
3. Property being held for pick-up by the insured at a local
warehouse or depot
Identify which the following statements are true, and which are
false concerning newly acquired locations - ✔✔✔ Correct Answer > 1.
Coverage is for equipment; true
2. Coverage is for stock; true
3. Coverage is for buildings; true
4. Coverage is for up to 45 days; false
5. Coverage is also for in or on vehicles within 100 meters; false
, Page 4 of 112
Identify two advantages of purchasing parcel post insurance
from a broker rather than canada post - ✔✔✔ Correct Answer > 1.
Overall costs of coverage reduced
2. Claims usually settled more quickly.
Canada post insures each parcel separately, claims settlement
delayed to trace parcel and cause of loss
Identify the two limits of insurance found in the sales
representative form - ✔✔✔ Correct Answer > 1. Total limits insured
2. Maximum limit for any one representative
Identify three examples of where this coverage would respond -
✔✔✔ Correct Answer > 1. At the home of the sales representative
2. At the trade show or exhibition
3. In the sales representatives automobile and otherwise
Identify six miscellaneous endorsement form - ✔✔✔ Correct Answer >
1. Instalment sales contract floater
2. Peak season endorsement
3. Replacement cost endorsement
4. Inflation protection
5. Fire department charges
