CAIB 2 EXAM
PREP/COMPREHENSIVE GUIDE
(NEWEST VERSION) | ALL
QUESTIONS AND CORRECT
ANSWERS (DETAILED ANSWERS) |
GRADED A+ | VERIFIED ANSWERS |
LATEST EXAM
Save
Practice questions for this set
Learn
Studied 7 terms
Nice work, you're crushing it
, Continue studying in Learn
Terms in this set (81)
refers to policy on which coverage
Scheduled is provided only on that property
Coverage which is specifically identified or
scheduled.
refers to policy used to insure
All Property building, stock and equipment under
a single limit of insurance.
building improvements, alterations
and betterments made at the
expense of or purchased by the
Tenants insured to a building occupied by
Improvements the insured and which are not
otherwise insured, provided the
insured is not the actual owner of
such building
Actual cash the replacement or repair cost less
value depreciation
, represents the costs to repair,
Replacement replace or rebuild the lost or
value damaged property without
deduction for depreciation
involves an Insurer ceding part of
Reinsurance the risk it has assumed to one or
more other insurers.
an insurance policy under which a
group of Insurers has agreed to
Subscription
participate in providing policy
insurance coverages.
is something imposed by the Insurer
Condition which requires the Insured to do or
not to do something.
refers to the right of the Insurer to
"step into the shoes" of the party
Subrogation whom it has compensated and sue
any party whom the compensated
party could have sued.
is a promise that certain facts are as
Warranty they are represented to be and that
they will remain so.
PREP/COMPREHENSIVE GUIDE
(NEWEST VERSION) | ALL
QUESTIONS AND CORRECT
ANSWERS (DETAILED ANSWERS) |
GRADED A+ | VERIFIED ANSWERS |
LATEST EXAM
Save
Practice questions for this set
Learn
Studied 7 terms
Nice work, you're crushing it
, Continue studying in Learn
Terms in this set (81)
refers to policy on which coverage
Scheduled is provided only on that property
Coverage which is specifically identified or
scheduled.
refers to policy used to insure
All Property building, stock and equipment under
a single limit of insurance.
building improvements, alterations
and betterments made at the
expense of or purchased by the
Tenants insured to a building occupied by
Improvements the insured and which are not
otherwise insured, provided the
insured is not the actual owner of
such building
Actual cash the replacement or repair cost less
value depreciation
, represents the costs to repair,
Replacement replace or rebuild the lost or
value damaged property without
deduction for depreciation
involves an Insurer ceding part of
Reinsurance the risk it has assumed to one or
more other insurers.
an insurance policy under which a
group of Insurers has agreed to
Subscription
participate in providing policy
insurance coverages.
is something imposed by the Insurer
Condition which requires the Insured to do or
not to do something.
refers to the right of the Insurer to
"step into the shoes" of the party
Subrogation whom it has compensated and sue
any party whom the compensated
party could have sued.
is a promise that certain facts are as
Warranty they are represented to be and that
they will remain so.
