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CAIB 2 EXAM NEWEST 2025/ 2026 ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED A+||LATEST EXAM!!!
Identify the three types of property which can be covered
by the builders risk policy - ANSWER-1. Property in the
course of construction, installation, reconstruction or repair
other than property described in 2 (b) ; owned by the
insured; owned by others, provided the value of such
property is included in the amount of insurance
2. Landscaping, growing trees, plants, shrubs or flowers
all to enter into and form part of the project provided that
the value of such property is included in the amount of
insurance
3. Temporary buildings, scaffolding, falsework, forms,
hoardings, excavation, site preparation and similar work,
provided that the value thereof is included in the amount of
insurance and then only the extent that replacement or
restoration is necessary to complete the project
Identify three exclusions to the builders risk policy -
ANSWER-1. Contractors tools and equipment including
spare parts and accessories whether owed, loaned, hired
or leased other than property specified in clause 2 (c)
2. Cost of making goods; faulty or improper materials;
faulty or improper workmanship; faulty or improper design
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3. Flood or earthquake
Identify two extension coverages under the builders risk
policy - ANSWER-1. In transit
2. Any other location
Identify the instances when coverage normally ceases
under the builders risk policy - ANSWER-When the
building comes into use or becomes occupied
Identify two occupancies for when coverage does not
normally cease under the builders risk policy - ANSWER-
1. Use of building for other construction work or testing
2. The use of the building for office or habitational
purposes
Identify the instance when coverage automatically ceases
under the builders risk policy - ANSWER-When the project
has been left unattended or when there has been no
construction activity for more than 30 consecutive days
Identify what the insured must provide within thirty days of
the expiration of the builders risk policy - ANSWER-1.
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Actual completed contract price plus value of property not
included in the contract price but insured by the policy
2. The total completed value of the project
Identify three prospective client for the installation floater -
ANSWER-1. Plumbing firms
2. Air conditioning firms
3. Heating firms
Identify three locations where coverage applies under the
installation floater - ANSWER-1. While in transit by most
forms of land transportation, including the insureds vehicle
2. While awaiting installation onsite
3. During installation until accepted, or the interest of the
insured ceases, whichever occurs first
Installation floaters may be issued on an individual or
annual basis. Identify how the premium is based when the
floater is issued on an annual basis. - ANSWER-The
premium is charged based off the contractors annual
receipts. This allows the insurer to obtain the proper
premium.
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Identify three exclusions to the installation floater -
ANSWER-1. Property while located on any premise
owned, leased or occupied by the insured
2. Tools and equipment owned by the insured or by others
3. Caused directly or indirectly by faulty materials or
workmanship or error in design unless fire or explosion
ensues and then only for loss or damage caused by such
ensuing fire or explosion
Identify three prospects for a jewelers block policy -
ANSWER-1. Pawn brokers
2. Jewellery manufactures
3. Jobbers
In addition to Jewellers' Block and Furriers Block policies,
identify three other Dealer forms - ANSWER-1. Fire arts
dealers
2. Stamp and coin dealers
3. Equipment dealers
4. Automobile dealers
5. Camera and musical instrument dealers
Define catastrophic limit - ANSWER-
CAIB 2 EXAM NEWEST 2025/ 2026 ACTUAL EXAM
COMPLETE 200 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED
ANSWERS) |ALREADY GRADED A+||LATEST EXAM!!!
Identify the three types of property which can be covered
by the builders risk policy - ANSWER-1. Property in the
course of construction, installation, reconstruction or repair
other than property described in 2 (b) ; owned by the
insured; owned by others, provided the value of such
property is included in the amount of insurance
2. Landscaping, growing trees, plants, shrubs or flowers
all to enter into and form part of the project provided that
the value of such property is included in the amount of
insurance
3. Temporary buildings, scaffolding, falsework, forms,
hoardings, excavation, site preparation and similar work,
provided that the value thereof is included in the amount of
insurance and then only the extent that replacement or
restoration is necessary to complete the project
Identify three exclusions to the builders risk policy -
ANSWER-1. Contractors tools and equipment including
spare parts and accessories whether owed, loaned, hired
or leased other than property specified in clause 2 (c)
2. Cost of making goods; faulty or improper materials;
faulty or improper workmanship; faulty or improper design
,2|Page
3. Flood or earthquake
Identify two extension coverages under the builders risk
policy - ANSWER-1. In transit
2. Any other location
Identify the instances when coverage normally ceases
under the builders risk policy - ANSWER-When the
building comes into use or becomes occupied
Identify two occupancies for when coverage does not
normally cease under the builders risk policy - ANSWER-
1. Use of building for other construction work or testing
2. The use of the building for office or habitational
purposes
Identify the instance when coverage automatically ceases
under the builders risk policy - ANSWER-When the project
has been left unattended or when there has been no
construction activity for more than 30 consecutive days
Identify what the insured must provide within thirty days of
the expiration of the builders risk policy - ANSWER-1.
,3|Page
Actual completed contract price plus value of property not
included in the contract price but insured by the policy
2. The total completed value of the project
Identify three prospective client for the installation floater -
ANSWER-1. Plumbing firms
2. Air conditioning firms
3. Heating firms
Identify three locations where coverage applies under the
installation floater - ANSWER-1. While in transit by most
forms of land transportation, including the insureds vehicle
2. While awaiting installation onsite
3. During installation until accepted, or the interest of the
insured ceases, whichever occurs first
Installation floaters may be issued on an individual or
annual basis. Identify how the premium is based when the
floater is issued on an annual basis. - ANSWER-The
premium is charged based off the contractors annual
receipts. This allows the insurer to obtain the proper
premium.
, 4|Page
Identify three exclusions to the installation floater -
ANSWER-1. Property while located on any premise
owned, leased or occupied by the insured
2. Tools and equipment owned by the insured or by others
3. Caused directly or indirectly by faulty materials or
workmanship or error in design unless fire or explosion
ensues and then only for loss or damage caused by such
ensuing fire or explosion
Identify three prospects for a jewelers block policy -
ANSWER-1. Pawn brokers
2. Jewellery manufactures
3. Jobbers
In addition to Jewellers' Block and Furriers Block policies,
identify three other Dealer forms - ANSWER-1. Fire arts
dealers
2. Stamp and coin dealers
3. Equipment dealers
4. Automobile dealers
5. Camera and musical instrument dealers
Define catastrophic limit - ANSWER-
