CAIB 2 - CHAPTER 5 Verified Exam Questions and
Answers 2026/2027
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Terms in this set (42)
- Drycleaners Examples of businesses that have a bailee's exposure.
- Garages
- Jewellers
- Furriers
- Trucking firms
- Couriers.
One who has temporary custody of "Bailee for hire."
the personal property of another for a
purpose other than sale, and who is
compensated as a condition of the
custody.
Ordinary care. The level of care required of bailees by law.
, The legal duty imposed on bailees that "Ordinary care."
requires them to take the same care of
goods of others as would be taken by
a prudent and diligent owner of such
goods.
Stock. The coverage that bailee's exposure is usually insured
by under most commercial property policies.
1) Legal liability policy; Two other types of bailee's policies.
2) A special Bailees Customers Policy
that insures direct loss or or damage to
customers' property, regardless of
fault.
1) In transit; Two coverage areas normally provided by Inland
2) During delay incidental to transit. Transportation policies.
1) Whether the owner or carrier is The two factors to determine whether the owner or
responsible for loss to the property; the carrier should purchase insurance on a shipment.
and
2) To what extent.
Includes airlines, railroads, trucking "Common carrier."
companies and others that provide
transportation to any member of the
public.
Answers 2026/2027
Play your way to mastery with fun games
Match Blocks Charms NEW
Terms in this set (42)
- Drycleaners Examples of businesses that have a bailee's exposure.
- Garages
- Jewellers
- Furriers
- Trucking firms
- Couriers.
One who has temporary custody of "Bailee for hire."
the personal property of another for a
purpose other than sale, and who is
compensated as a condition of the
custody.
Ordinary care. The level of care required of bailees by law.
, The legal duty imposed on bailees that "Ordinary care."
requires them to take the same care of
goods of others as would be taken by
a prudent and diligent owner of such
goods.
Stock. The coverage that bailee's exposure is usually insured
by under most commercial property policies.
1) Legal liability policy; Two other types of bailee's policies.
2) A special Bailees Customers Policy
that insures direct loss or or damage to
customers' property, regardless of
fault.
1) In transit; Two coverage areas normally provided by Inland
2) During delay incidental to transit. Transportation policies.
1) Whether the owner or carrier is The two factors to determine whether the owner or
responsible for loss to the property; the carrier should purchase insurance on a shipment.
and
2) To what extent.
Includes airlines, railroads, trucking "Common carrier."
companies and others that provide
transportation to any member of the
public.
