CAIB-3 Latest Braindumps Questions, Certification CAIB-3 Test Questions

With over a decade's business experience, our CAIB-3 test torrent attached great importance to customers' purchasing experience. There is no need to worry about the speed on buying electronic products. For we make endless efforts to assess and evaluate our CAIB-3 exam prep' reliability for a long time and put forward a guaranteed purchasing scheme. If neccessary, you can also have our remotely online guidance to use our CAIB-3 Test Torrent. Normally, you can get our CAIB-3 practice questions in a few minutes after purchase with high efficiency!

IBABC CAIB-3 Exam Syllabus Topics:

SectionObjectives
Topic 1: Business Interruption Insurance
Topic 2: Risk Assessment for Advanced Commercial Risks
Topic 3: Crime Insurance
Topic 4: Marine Insurance
Topic 5: Reinsurance
Topic 6: Directors' and Officers' Liability Insurance
Topic 7: Aviation Insurance
Topic 8: Surety Bonding
Topic 9: Cyber Insurance

>> CAIB-3 Latest Braindumps Questions <<

Certification CAIB-3 Test Questions - CAIB-3 New Test Bootcamp

How can our CAIB-3 study questions are so famous and become the leader in the market? Because our CAIB-3 learning braindumps comprise the most significant questions and answers that have every possibility to be the part of the real exam. As you study with our CAIB-3 Practice Guide, you will find the feeling that you are doing the real exam. Especially if you choose the Software version of our CAIB-3 training engine, which can simulate the real exam.

IBABC Canadian Accredited Insurance Broker (CAIB 3) Exam Sample Questions (Q17-Q22):

NEW QUESTION # 17
A primary insurer was offered a risk requiring $100 million of insurance, but only had capacity to underwrite
$40 million, so they opted for facultative reinsurance.
A) If the risk is reinsured using pro rata facultative insurance, how much of the coverage would belong to the primary insurer and how much does the reinsurer take on? (2 marks) B) What would it mean if they chose to use excess-of-loss facultative reinsurance instead? (1 mark) (3 marks)

Answer:

Explanation:
See the answer in Explanation below.
Explanation:
A) The primary insurer would retain $40 million and the reinsurer would take $60 million. Under pro rata reinsurance, premiums and losses are shared in the agreed proportion.
B) With excess-of-loss reinsurance, the primary insurer would pay losses up to its $40 million retention, and the reinsurer would pay the amount above $40 million, up to the agreed reinsurance limit.
Reference: CAIB 3 Training & Study Pack - Reinsurance: facultative, pro rata and excess-of-loss reinsurance.


NEW QUESTION # 18
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 # 19
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 # 20
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 # 21
There are many details required by underwriters for cyber insurance. Name six (6) of those details required. (3 marks) See the answer in Explanation below.

Answer:

Explanation:
Six details an underwriter may require are:
1. Type and size of the business.
2. Annual revenue.
3. Type and amount of confidential or personal data stored.
4. Computer and network security controls.
5. Backup and disaster recovery procedures.
6. Past cyber incidents or claims.
Reference: CAIB 3 Training & Study Pack - Cyber Insurance: underwriting information and cyber controls.


NEW QUESTION # 22
......

Our CAIB-3 free demo provides you with the free renewal in one year so that you can keep track of the latest points happening in the world. As the questions of exams of our CAIB-3 exam torrent are more or less involved with heated issues and customers who prepare for the exams must haven’t enough time to keep trace of exams all day long, our CAIB-3 Practice Test can serve as a conducive tool for you make up for those hot points you have ignored. Therefore, you will have more confidence in passing the exam, which will certainly increase your rate to pass the CAIB-3 exam.

Certification CAIB-3 Test Questions: https://www.latestcram.com/CAIB-3-exam-cram-questions.html