CAIB 1 Verified Exam Questions and Answers
2026/2027
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Practice questions for this set
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possibility of financial loss or gain
Choose an answer
1 Speculative Risk 2 Risk
3 Direct Loss 4 Insurable Interest
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Terms in this set (88)
Risk the chance of financial loss to which an object of
insurance is exposed
Speculative Risk possibility of financial loss or gain
Pure Risk Chance of financial loss, no gain
Insurance undertaking by one person to indemnify another
person against loss or liability for loss in respect of a
certain risk or peril to which the object of insurance
may be exposed or to pay a sum of money or other
ting of value upon the happening of a certain event
Contract an agreement between two or more persons which
creates an obligation to do or not to do a particular
thing
Insurable Interest showing you would suffer financially by a loss
2026/2027
Play your way to mastery with fun games
Match Blocks Charms NEW
Practice questions for this set
Learn 1 /7 Study with Learn
possibility of financial loss or gain
Choose an answer
1 Speculative Risk 2 Risk
3 Direct Loss 4 Insurable Interest
, Don't know?
Terms in this set (88)
Risk the chance of financial loss to which an object of
insurance is exposed
Speculative Risk possibility of financial loss or gain
Pure Risk Chance of financial loss, no gain
Insurance undertaking by one person to indemnify another
person against loss or liability for loss in respect of a
certain risk or peril to which the object of insurance
may be exposed or to pay a sum of money or other
ting of value upon the happening of a certain event
Contract an agreement between two or more persons which
creates an obligation to do or not to do a particular
thing
Insurable Interest showing you would suffer financially by a loss
