Professional CAIB-3 New Question to Obtain IBABC Certification

In this competitive IT industry, having some authentication certificate can help you promote job position. Many companies that take a job promotion or increase salary for you will refer to how many gold content your authentication certificates have. IBABC CAIB-3 is a high gold content certification exam. IBABC CAIB-3 authentication certificate can meet many IT employees' needs. Exam4Labs can provide you with IBABC certification CAIB-3 exam targeted training. You can free download Exam4Labs's trial version of raining tools and some exercises and answers about IBABC certification CAIB-3 exam as a try.

IBABC CAIB-3 Exam Syllabus Topics:

SectionObjectives
Cyber Insurance
Surety Bonding
Business Interruption Insurance
Crime Insurance
Reinsurance
Risk Assessment for Advanced Commercial Risks
Directors' and Officers' Liability Insurance
Aviation Insurance
Marine Insurance

>> CAIB-3 New Question <<

IBABC CAIB-3 Test Practice, Vce CAIB-3 Free

If you choose our CAIB-3 exam questions, then you can have a study on the latest information and techlonogies on the subject and you will definitely get a lot of benefits from it. Of course, the most effective point is that as long as you carefully study the CAIB-3 Study Guide for twenty to thirty hours, you can go to the exam. To really learn a skill, sometimes it does not take a lot of time. Come to buy our CAIB-3 practice materials and we teach you how to achieve your goals efficiently.

IBABC Canadian Accredited Insurance Broker (CAIB 3) Exam Sample Questions (Q31-Q36):

NEW QUESTION # 31
A) What is a third-party cyber event? Provide an example. (2 marks)
B) What is an example of a third-party cyber loss? (1 mark)
(3 marks)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
A) A third-party cyber event is a cyber incident involving the insured that causes harm or loss to another person or organization. Example: a hacker steals customers' personal information from the insured's computer system.
B) An example of a third-party cyber loss is legal defence costs or damages from a customer lawsuit after a privacy breach.
Reference: CAIB 3 Training & Study Pack - Cyber Insurance: third-party events and cyber liability losses.


NEW QUESTION # 32
Your client has hired his cousin as an employee. Several years ago, this cousin was charged and convicted of fraud, and your client feels that they should assist the cousin's return to the workforce. Are there any implications from the fraud conviction under the Comprehensive 3D policy? (3 marks)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
Yes. Employee dishonesty coverage normally does not apply to an employee once the insured knows that the employee has committed a dishonest or fraudulent act. Since the client already knows about the cousin's fraud conviction, a dishonesty loss caused by the cousin would normally not be covered unless the insurer specifically agrees to cover that employee. The conviction should be disclosed to the insurer.
Reference: CAIB 3 Training & Study Pack - Crime Insurance/Comprehensive 3D: termination of employee dishonesty coverage after known dishonest acts.


NEW QUESTION # 33
There are a wide variety of techniques or sources that can be used to systematically identify loss exposure.
List and briefly describe three (3) of them. (3 marks)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
1. Surveys or questionnaires - ask structured questions about the business and its operations to identify possible exposures.
2. Financial statements and records - show assets, income, expenses and other areas where the business could suffer a financial loss.
3. Personal inspections - a physical inspection of the premises can identify hazards and exposures that may not appear in the paperwork.
Reference: CAIB 3 Training & Study Pack - Risk Management: techniques for identifying loss exposures.


NEW QUESTION # 34
What is the name of the bond that protects governments in the event that duties and taxes collected by the principal are not remitted to the government? (1 mark)

Answer: A

Explanation:
Comprehensive Explanation: A Customs and Excise Bond guarantees that the principal will comply with the applicable tax and customs requirements, including payment or remittance of duties and taxes owed to the government.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 5 - Miscellaneous Bonds: Customs and Excise Bonds.


NEW QUESTION # 35
When considering the interaction of loss frequency and loss severity with the Prouty Approach, if the loss severity is significant and the loss frequency is almost nil, how should the loss be financed? (1 mark)

Answer: C

Explanation:
Comprehensive Explanation: Under the Prouty Approach, a loss with significant severity but an almost nil frequency is normally retained. The event is unlikely to occur often enough to justify transferring every such exposure, provided the organization can financially absorb the loss.
Reference: CAIB 3 Training & Study Pack - Risk Management: Prouty Approach, frequency/severity matrix and risk financing.


NEW QUESTION # 36
......

The Canadian Accredited Insurance Broker (CAIB 3) Exam (CAIB-3) exam questions are being offered in three different formats. The names of these formats are CAIB-3 desktop practice test software, web-based practice test software, and PDF dumps file. The CAIB-3 desktop practice test software and web-based practice test software both give you real-time IBABC CAIB-3 exam environment for quick and complete exam preparation.

CAIB-3 Test Practice: https://www.exam4labs.com/CAIB-3-practice-torrent.html