CAIB 2 STUDY QUESTIONS AND CORRECT ANSWERS CHAPTER 4

1. Endorsements; changes the terms or conditions of the insureds policy 2. Riders; adds additional coverage to those already in place 3. Separate policies; equipment breakdown insurance, computer crime, other specialized coverages often purchased separately but can be added to existing policy Breifly explain the fuctions or endorsements, riders, and separate policies 1. Exterior signs; sign form 2. Exterior glass; glass rider 3. Vacant property; vacant property 4. Records; valuable papers and records insurance Accounts receivable form Electronic data processing policy 5. Furs; furrier's block 6. Jewellery, watches, pearls, precious and semi-precious stones; jewellers block 7. Property on loan/rental/ conditional sale/payment plan; sales ns samples floaters/sales representative Identify the endorsement, rider or policy to respond to the following exclusions, restrictions, or limitations found in the fire and Ec or broad wording previously studied 1. Boiler and certain pressure vessels; equipment breakdown 2. Centrifugal force, mechanical or electrical breakdown; equipment 3. Earthquake; earthquake endorsement 4. Flood; flood endorsement 5. Sewer backup/water escape; water escape endorsement 6. Changes of temperature; consequential loss assumption clause 7. Disturbance or erasure of electronic recordings; electronic data processing policy 8. Due to enforcement of any by-law regulation, ordinance or law; by laws endorsement Identify the endorsement, rider or policy to respond to the following exclusions, restrictions, or limitations found in the fire and Ec or broad wording previously studied 1. Sign floater 2. Neon sign floater 3. Exterior sign floater Identify three other names for the sign floater 1. Lettering 2. Other artwork In additional to damage to the sign, identify two other types of damage covered 1. Wear and tear or mechanical breakdown 2. Electrical currents other thank lightening, except resultant loss from fire or explosion 3. While property being worked on (installation, repair or maintenance0 4. Dampness of atmosphere or extremes of temperature 5. Strikers, locked out workmen, or personal taking part in labour disturbances or riots or civic commotions Identify five common exclusions to the sign form 1. Scheduled basis 2. Blanket basis Identify the two bases on which glass can be insured under a glass rider 1. Type, number and size of glass to be insured 2. Location - interior or exterior 3. Description of lettering, or name notation, tape or foil List the three details required to be itemized by the broker when glass is on a scheduled basis 1. Accidental breakage by insured or employees 2. Stones thrown from tires of passing vehicles 3. Shifting or building due to earth movement Identify three examples of lossescovered by the rider