Caib 3 - Study guide questions to review
Questions with Correct Answers
CH2 - 5. Coverage C - Medical Payments - Identify four persons excluded under coverage c
1. The insured
2. The insured's employees
3. Other persons working on behalf of the insured or tenant of the insured
4. Any person who is practicing, instructing or participating in athletics
CH2 - 14. Supplementary Payments - Coverages A, B and D - Identify two kinds of costs
addressed under costs taxed against the insured 1. Court costs
2. Interest on amount of the judgment
CH2 - 15. Supplementary Payments - Coverages A, B and D - Identify when the interest on the
amount of judgment is calculated and any restriction as the amount When the verdict
rendered by the court favours the plaintiff until the insurer has paid. Restricted to the limit of
insurance
, CH2 - 18. Determination of Premium - Identify the factors to be considered when calculating the
premium to be charged by the insurer for 'Products liability exposure' 1. Type of
products sold
2. Sales volume
3. Territories in which products are sold
CH2 - 19. Determination of Premium - Identify the factors to be considered when calculating the
premium to be charged by the insurer for 'Completed operations exposures' 1. Type of
work performed
2. Gross receipts
CH2 - 22. Determination of Premium - Identify the factors to be considered when calculating the
premium to be charged by the insurer for 'tenants legal liability exposure' Approximately
35% of the building rate
CH2 - 3. Additional Policy Sections - Identify when a newly formed or acquired business would
be automatically covered under the existing IBC 2100 When the named insured
purchases all or a majority interest in an existing corporation or forms a new one during the
policy
Questions with Correct Answers
CH2 - 5. Coverage C - Medical Payments - Identify four persons excluded under coverage c
1. The insured
2. The insured's employees
3. Other persons working on behalf of the insured or tenant of the insured
4. Any person who is practicing, instructing or participating in athletics
CH2 - 14. Supplementary Payments - Coverages A, B and D - Identify two kinds of costs
addressed under costs taxed against the insured 1. Court costs
2. Interest on amount of the judgment
CH2 - 15. Supplementary Payments - Coverages A, B and D - Identify when the interest on the
amount of judgment is calculated and any restriction as the amount When the verdict
rendered by the court favours the plaintiff until the insurer has paid. Restricted to the limit of
insurance
, CH2 - 18. Determination of Premium - Identify the factors to be considered when calculating the
premium to be charged by the insurer for 'Products liability exposure' 1. Type of
products sold
2. Sales volume
3. Territories in which products are sold
CH2 - 19. Determination of Premium - Identify the factors to be considered when calculating the
premium to be charged by the insurer for 'Completed operations exposures' 1. Type of
work performed
2. Gross receipts
CH2 - 22. Determination of Premium - Identify the factors to be considered when calculating the
premium to be charged by the insurer for 'tenants legal liability exposure' Approximately
35% of the building rate
CH2 - 3. Additional Policy Sections - Identify when a newly formed or acquired business would
be automatically covered under the existing IBC 2100 When the named insured
purchases all or a majority interest in an existing corporation or forms a new one during the
policy
