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CAIB-3
Canadian Accredited Insurance Broker (CAIB 3) Exam
Up to Date products, reliable and verified.
Questions and Answers in PDF Format.
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Web: www.examkill.com/
Version product
Visit us at: https://examkill.com/caib-3
, Latest Version: 6.0
Question: 1
Under the inside/outside robbery coverage, which of the following would qualify as a custodian? (1
mark)
A. Guard.
B. Janitor.
C. Watchman.
D. Insured's partner.
Answer: D
Explanation:
Comprehensive Explanation: A custodian includes the insured, a partner of the insured, or an authorized
employee who has care and custody of the insured property. A guard, janitor or watchman is not
treated as a custodian for this coverage.
CAIB 3 Training & Study Pack - Crime Insurance: Inside/Outside Robbery and the definition of custodian.
Question: 2
Your client chartered a boat to transport some goods. While parked at the terminal overnight, some
thieves went aboard and stole some cargo. Upon investigation, it looks like the terminal’s security was
negligent, allowing the thieves to easily enter the premises.
A) Which liability insurance will cover this loss? (1 mark)
B) Your client is adamant that they should not be responsible. They want to sue - who can they hold
responsible? (1 mark)
C) Which liability insurance will protect against this litigation? (1 mark)
A. See the answer in Explanation below.
Answer: A
Explanation:
A) Charterer’s Legal Liability can protect the charterer for legal liability arising from the chartered vessel.
B) The terminal operator can be held responsible if its negligent security caused or contributed to the
theft.
C) Terminal Operator’s Legal Liability insurance can protect the terminal operator against this type of
liability claim.
CAIB 3 Training & Study Pack - Marine Insurance: charterers’ liability and terminal operators’ legal
liability.
Visit us at: https://examkill.com/caib-3
CAIB-3
Canadian Accredited Insurance Broker (CAIB 3) Exam
Up to Date products, reliable and verified.
Questions and Answers in PDF Format.
For More Information – Visit link below:
Web: www.examkill.com/
Version product
Visit us at: https://examkill.com/caib-3
, Latest Version: 6.0
Question: 1
Under the inside/outside robbery coverage, which of the following would qualify as a custodian? (1
mark)
A. Guard.
B. Janitor.
C. Watchman.
D. Insured's partner.
Answer: D
Explanation:
Comprehensive Explanation: A custodian includes the insured, a partner of the insured, or an authorized
employee who has care and custody of the insured property. A guard, janitor or watchman is not
treated as a custodian for this coverage.
CAIB 3 Training & Study Pack - Crime Insurance: Inside/Outside Robbery and the definition of custodian.
Question: 2
Your client chartered a boat to transport some goods. While parked at the terminal overnight, some
thieves went aboard and stole some cargo. Upon investigation, it looks like the terminal’s security was
negligent, allowing the thieves to easily enter the premises.
A) Which liability insurance will cover this loss? (1 mark)
B) Your client is adamant that they should not be responsible. They want to sue - who can they hold
responsible? (1 mark)
C) Which liability insurance will protect against this litigation? (1 mark)
A. See the answer in Explanation below.
Answer: A
Explanation:
A) Charterer’s Legal Liability can protect the charterer for legal liability arising from the chartered vessel.
B) The terminal operator can be held responsible if its negligent security caused or contributed to the
theft.
C) Terminal Operator’s Legal Liability insurance can protect the terminal operator against this type of
liability claim.
CAIB 3 Training & Study Pack - Marine Insurance: charterers’ liability and terminal operators’ legal
liability.
Visit us at: https://examkill.com/caib-3
