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IBABC CAIB-3 Exam Syllabus Topics:

SectionObjectives
Specialty Insurance Lines- Surety Bonds
- Ocean Marine and Aviation Insurance
- Crime Insurance and Fidelity Coverage
Commercial Automobile Insurance- Garage and fleet exposures
- Commercial auto policy forms and coverages
Risk Management and Underwriting- Loss control and risk mitigation strategies
- Risk identification and assessment
- Commercial underwriting principles
Commercial General Liability Insurance- CGL policy structure, coverages, and endorsements
- Legal perspective and liability exposures

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2026 Download CAIB-3 Free Dumps | Pass-Sure CAIB-3 Certification Test Questions: Canadian Accredited Insurance Broker (CAIB 3) Exam 100% Pass

Memorizing these Canadian Accredited Insurance Broker (CAIB 3) Exam CAIB-3 valid dumps will help you easily attempt the IBABC CAIB-3 exam within the allocated time. Thousands of aspirants have passed their IBABC CAIB-3 Exam, and they all got help from our Canadian Accredited Insurance Broker (CAIB 3) Exam CAIB-3 updated exam dumps. For successful preparation, you can also rely on CAIB-3 real questions.

IBABC Canadian Accredited Insurance Broker (CAIB 3) Exam Sample Questions (Q47-Q52):

NEW QUESTION # 47
A) How does the Directors' and Officers' Liability insurance protect the organization? Name the specific coverage element. (2 marks) B) Which coverage element might cover costs of defence related to allegations of pollution? (1 mark) (3 marks)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
A) Company Reimbursement Coverage (Side B) reimburses the organization for amounts it is legally permitted to pay to indemnify its directors and officers for covered claims.
B) Pollution Defence Costs Coverage may cover defence costs arising from allegations of pollution, subject to the policy wording.
Reference: CAIB 3 Training & Study Pack - Directors' and Officers' Liability: Company Reimbursement and Pollution Defence Costs.


NEW QUESTION # 48
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 # 49
DEFINE: CYBER RISK (1 mark)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
Cyber risk is the risk of financial loss, business interruption or liability caused by a cyber event, such as unauthorized access, a cyberattack, system failure or loss of electronic data.
Reference: CAIB 3 Training & Study Pack - Cyber Insurance: cyber risks and loss exposures.


NEW QUESTION # 50
DEFINE: FIXED EXPENSES (BUSINESS INTERRUPTION) (1 mark)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
Fixed expenses are expenses that continue during a business interruption and do not change directly with the level of sales or production. Examples include rent, property taxes, insurance and certain salaries.
Reference: CAIB 3 Training & Study Pack - Business Interruption: continuing and fixed expenses.


NEW QUESTION # 51
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 # 52
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