CAIB 1 EXAM
A home that is factory built on its own chassis and which can be easily moved—
ANSWER--Mobile Home
1) Fire
2) Windstorm - tie downs for greater stability
3) Hail - some policies contain a dent clause
4) Transporting—ANSWER--Mobile Homes are most susceptible to these kinds of losses
5% of the amount of insurance on the dwelling can be used to pay for reasonable
expenses for the loss from an insured peril—ANSWER--Mobile Homeowners Form -
Emergency Removal Expense Included
1)Loss or damage caused by moving
2) Loss due to conversion, embezzlement or secretion by any person in possession of
the building—ANSWER--Mobile Homeowners Form - Exclusions
1) Those living in apartments
2) Those renting a dwelling or any portion of it
3) People who receive use of a dwelling as a part of their remuneration—ANSWER--
People who qualify for Tenant Policies
, Coverage C - Personal Property
i) Improvements at the expense of the tenant
ii) $500 for theft and/or vandalism
Coverage D - Additional Living Expense
20% of Coverage C - Personal Property—ANSWER--Coverages provided by Tenants
Package Forms
An individually owned housing unit in a building with several such units—ANSWER--
Condominium
The insured a single amount of insurance in its own name—ANSWER--The
Condominium Act Requires?
1) The value of the building
2) The value of common elements—ANSWER--The Condominium Act Covers
1) Personal Property Coverage
2) Other Essential Coverages - Loss assessment, unit improvements or betterment—
ANSWER--Condominium Owners are responsible to purchase what type of coverage?
1) Transportation
2) Burglary/Robbery
3) Vandalism or Malicious Acts
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
A home that is factory built on its own chassis and which can be easily moved—
ANSWER--Mobile Home
1) Fire
2) Windstorm - tie downs for greater stability
3) Hail - some policies contain a dent clause
4) Transporting—ANSWER--Mobile Homes are most susceptible to these kinds of losses
5% of the amount of insurance on the dwelling can be used to pay for reasonable
expenses for the loss from an insured peril—ANSWER--Mobile Homeowners Form -
Emergency Removal Expense Included
1)Loss or damage caused by moving
2) Loss due to conversion, embezzlement or secretion by any person in possession of
the building—ANSWER--Mobile Homeowners Form - Exclusions
1) Those living in apartments
2) Those renting a dwelling or any portion of it
3) People who receive use of a dwelling as a part of their remuneration—ANSWER--
People who qualify for Tenant Policies
, Coverage C - Personal Property
i) Improvements at the expense of the tenant
ii) $500 for theft and/or vandalism
Coverage D - Additional Living Expense
20% of Coverage C - Personal Property—ANSWER--Coverages provided by Tenants
Package Forms
An individually owned housing unit in a building with several such units—ANSWER--
Condominium
The insured a single amount of insurance in its own name—ANSWER--The
Condominium Act Requires?
1) The value of the building
2) The value of common elements—ANSWER--The Condominium Act Covers
1) Personal Property Coverage
2) Other Essential Coverages - Loss assessment, unit improvements or betterment—
ANSWER--Condominium Owners are responsible to purchase what type of coverage?
1) Transportation
2) Burglary/Robbery
3) Vandalism or Malicious Acts
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Brittie Donald
