CAIB 1 STUDY UPDATED EXAM GUIDE QUESTIONS AND
ANSWERS SURE A+
✔✔Subrogation - ✔✔to put into another's shoes
✔✔Proprietary insurer - ✔✔Joint stock companies owned by shareholders and seeking
a profit or return on investment
✔✔Non-proprietary insurer - ✔✔organized for a reason other than profit, owned by
policyholders
✔✔Personal property - ✔✔contents of the insured(s) dwelling and other personal
property owned, worn, or used by the insured while on the premises which is usual to
the ownership or maintenance of the dwelling
✔✔Additional living expenses - ✔✔costs "over and above" what it would normally have
cost the insureds to live had the loss not occurred
✔✔Vandalism - ✔✔wilful or ignorant destruction of property
✔✔Malicious acts - ✔✔a wrongful act that was done without legal justification or excuse
✔✔Vacant - ✔✔all occupants have moved out with no intention of returning
✔✔Theft - ✔✔all means of taking property without the owner's consent
✔✔Domestic water container - ✔✔a device or apparatus for personal use on the
premise for containing, heating, chilling, or dispensing water
✔✔Mobile home - ✔✔a home which is factory built on its own chassis and which can be
easily moved
✔✔Condominium - ✔✔a system of separate ownership of individual units in a multiple
unit building
✔✔Endorsement - ✔✔an extra sheet of paper attached to a policy indicating in writing
that the insurer and the insured have agreed to a change in the terms of the insurance
contract
✔✔Fine arts - ✔✔paintings, pictures, valuable rugs, rare books, manuscripts
✔✔Criminal law - ✔✔deals with wrongs against society
, ✔✔Civil law - ✔✔deals with disputes between individuals or other legal entities, not
involving criminal act
✔✔Plaintiff - ✔✔someone who brings a case against another
✔✔Defendant - ✔✔an individual sued by another
✔✔Tort - ✔✔a wrong done to another in breach of a duty laid out by law
✔✔Strict Liability - ✔✔Involves situations in which harm to others would result should a
mishap occur. Guilty until proven guilty
✔✔Negligence - ✔✔the omission to do something a resonable person would do, or
doing something which a reasonable person would not do
✔✔General damages - ✔✔made for pain and suffering
✔✔Special Damages - ✔✔Out of pocket expenses
✔✔Trespasser - ✔✔people who are on another's premises for their own purposes
without the permission of its occupier
✔✔Licensee - ✔✔one who comes on to the premises for his own purposes but with the
occupiers consent. Postal worker, meter reader
✔✔Invitee - ✔✔someone who enters by invitation or with the connection to the owners
business or activity the owner conducts
✔✔Visitor - ✔✔licensee and invitee are sometimes labeled as this
✔✔Joint Liability - ✔✔when two or more people act together so as to cause injury or
damage
✔✔Farming - ✔✔the ownership, maintenance or use of premises for the production of
crops or the raising or care of livestock including all necessary operations
✔✔Residence employee - ✔✔those whose duties are exclusively in connection with the
maintenance course of the residence premises
✔✔Farm employee - ✔✔those paid for their work and who are hired on a part time,
seasonal or full time basis to perform duties connected with farming activities outside
the insured's dwelling
ANSWERS SURE A+
✔✔Subrogation - ✔✔to put into another's shoes
✔✔Proprietary insurer - ✔✔Joint stock companies owned by shareholders and seeking
a profit or return on investment
✔✔Non-proprietary insurer - ✔✔organized for a reason other than profit, owned by
policyholders
✔✔Personal property - ✔✔contents of the insured(s) dwelling and other personal
property owned, worn, or used by the insured while on the premises which is usual to
the ownership or maintenance of the dwelling
✔✔Additional living expenses - ✔✔costs "over and above" what it would normally have
cost the insureds to live had the loss not occurred
✔✔Vandalism - ✔✔wilful or ignorant destruction of property
✔✔Malicious acts - ✔✔a wrongful act that was done without legal justification or excuse
✔✔Vacant - ✔✔all occupants have moved out with no intention of returning
✔✔Theft - ✔✔all means of taking property without the owner's consent
✔✔Domestic water container - ✔✔a device or apparatus for personal use on the
premise for containing, heating, chilling, or dispensing water
✔✔Mobile home - ✔✔a home which is factory built on its own chassis and which can be
easily moved
✔✔Condominium - ✔✔a system of separate ownership of individual units in a multiple
unit building
✔✔Endorsement - ✔✔an extra sheet of paper attached to a policy indicating in writing
that the insurer and the insured have agreed to a change in the terms of the insurance
contract
✔✔Fine arts - ✔✔paintings, pictures, valuable rugs, rare books, manuscripts
✔✔Criminal law - ✔✔deals with wrongs against society
, ✔✔Civil law - ✔✔deals with disputes between individuals or other legal entities, not
involving criminal act
✔✔Plaintiff - ✔✔someone who brings a case against another
✔✔Defendant - ✔✔an individual sued by another
✔✔Tort - ✔✔a wrong done to another in breach of a duty laid out by law
✔✔Strict Liability - ✔✔Involves situations in which harm to others would result should a
mishap occur. Guilty until proven guilty
✔✔Negligence - ✔✔the omission to do something a resonable person would do, or
doing something which a reasonable person would not do
✔✔General damages - ✔✔made for pain and suffering
✔✔Special Damages - ✔✔Out of pocket expenses
✔✔Trespasser - ✔✔people who are on another's premises for their own purposes
without the permission of its occupier
✔✔Licensee - ✔✔one who comes on to the premises for his own purposes but with the
occupiers consent. Postal worker, meter reader
✔✔Invitee - ✔✔someone who enters by invitation or with the connection to the owners
business or activity the owner conducts
✔✔Visitor - ✔✔licensee and invitee are sometimes labeled as this
✔✔Joint Liability - ✔✔when two or more people act together so as to cause injury or
damage
✔✔Farming - ✔✔the ownership, maintenance or use of premises for the production of
crops or the raising or care of livestock including all necessary operations
✔✔Residence employee - ✔✔those whose duties are exclusively in connection with the
maintenance course of the residence premises
✔✔Farm employee - ✔✔those paid for their work and who are hired on a part time,
seasonal or full time basis to perform duties connected with farming activities outside
the insured's dwelling
