With the popularization of wireless network, those who are about to take part in the CAIB-3 exam guide to use APP on the mobile devices as their learning tool, because as long as entering into an online environment, they can instantly open the learning material from their appliances. Our CAIB-3 study materials provide such version for you. The online test engine is a kind of online learning, you can enjoy the advantages of APP version of our CAIB-3 Exam Guide freely. Moreover, you actually only need to download the APP online for the first time and then you can have free access to our CAIB-3 exam questions in the offline condition if you don’t clear cache.
| Section | Objectives |
|---|---|
| Topic 1: Risk Assessment for Advanced Commercial Risks | |
| Topic 2: Reinsurance | |
| Topic 3: Aviation Insurance | |
| Topic 4: Directors' and Officers' Liability Insurance | |
| Topic 5: Cyber Insurance | |
| Topic 6: Surety Bonding | |
| Topic 7: Business Interruption Insurance | |
| Topic 8: Crime Insurance | |
| Topic 9: Marine Insurance |
If you want to pass your exam just one time, then we will be your best choice. CAIB-3 questions and answers are edited by professional experts, and they have the professional knowledge in this field, therefore CAIB-3 exam materials are high-quality. In addition, CAIB-3 training materials contain most of the knowledge point for the exam, and you can have a good command of the exam dumps as well as improve your professional ability in the process of learning. You can also obtain the download link and password within ten minutes for CAIB-3 Exam Dumps, so you can start your learning immediately.
NEW QUESTION # 47
DEFINE: RETROCESSION (1 mark)
Answer:
Explanation:
See the answer in Explanation below.
Explanation:
Retrocession is reinsurance of reinsurance. It occurs when a reinsurer transfers part of the risk it has accepted to another reinsurer, called the retrocessionaire.
Reference: CAIB 3 Training & Study Pack - Reinsurance: retrocession and retrocessionaire.
NEW QUESTION # 48
DEFINE: EXTENDED REPORTING PERIOD (1 mark)
Answer:
Explanation:
See the answer in Explanation below.
Explanation:
An Extended Reporting Period is extra time after a claims-made policy ends during which a claim can still be reported for an occurrence or wrongful act that happened during the covered period, subject to the policy terms and any retroactive date.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 2 - Claims-Made coverage and Extended Reporting Period, reference p. 2-40.
NEW QUESTION # 49
While very similar, there are some key differences between the coverages provided under the profits form and the gross earnings form. Name three (3) of those key differences. (3 marks)
Answer:
Explanation:
See the answer in Explanation below.
Explanation:
1. Gross Earnings coverage normally ends when the damaged property is repaired, rebuilt or replaced. The Profits Form can continue until the business income returns to the level it would have reached, subject to the selected indemnity period.
2. Under Gross Earnings, delays caused by the insured or other people involved can reduce the claim. Under the Profits Form, the focus is on delays for which the insured is responsible.
3. The Profits Form can cover income loss caused by delays in complying with building by-laws, while the Gross Earnings Form does not cover that additional delay in the same way.
Reference: CAIB 3 Training & Study Pack - Business Interruption: Gross Earnings Form compared with the Profits Form.
NEW QUESTION # 50
DEFINE: ROBBERY (1 mark)
Answer:
Explanation:
See the answer in Explanation below.
Explanation:
Robbery is the unlawful taking of property from a person by force or violence, or by threatening force or violence.
Reference: CAIB 3 Training & Study Pack - Crime Insurance: robbery and custodian coverage.
NEW QUESTION # 51
The products/completed operations liability coverage is special because it recognizes the unique risks of the aviation industry.
A) What are the two (2) types of businesses/services that are covered by this? (2 marks) B) Why is it essential for brokers to determine if this coverage is needed? (1 mark) (3 marks)
Answer:
Explanation:
See the answer in Explanation below.
Explanation:
A) It is mainly needed by:
1. Businesses that manufacture or sell aircraft or aircraft parts.
2. Businesses that repair, service or maintain aircraft.
B) It is important because a claim may happen after the product has been sold or after the work has been completed, so the broker must make sure this exposure is properly covered.
Reference: CAIB 3 Training & Study Pack - Aviation Insurance: Products/Completed Operations Liability.
NEW QUESTION # 52
......
In order to better meet users' need, our Canadian Accredited Insurance Broker (CAIB 3) Exam study questions have set up a complete set of service system, so that users can enjoy our professional one-stop service. We not only in the pre-sale for users provide free demo, when buy the user can choose in we provide in the three versions, at the same time, our CAIB-3 training materials also provides 24-hour after-sales service, even if you are failing the exam, don't pass the exam, the user may also demand a full refund with purchase vouchers, make the best use of the test data, not for the user to increase the economic burden. Such a perfect one-stop service of our CAIB-3 Test Guide, believe you will not regret your choice, and can better use your time, full study, efficient pass the exam.
Reliable CAIB-3 Learning Materials: https://www.itcertmaster.com/CAIB-3.html