Canadian Accredited Insurance Broker Program CAIB 1
Comprehensive Questions with Their Verified Answers
2025 Rollout!
Terms in this set (274)
A home that is factory built on Mobile Home
its own chassis and which can be
easily moved
1) Fire Mobile Homes are most susceptible to these kinds of losses
2) Windstorm - tie downs for
greater stability
3) Hail - some policies contain
a dent clause
4) Transporting
5% of the amount of insurance on the Mobile Homeowners Form - Emergency Removal Expense Included
dwelling can be used to pay for
reasonable expenses for the loss
from an insured peril
1) Loss or damage caused by Mobile Homeowners Form - Exclusions
moving
2) Loss due to conversion,
embezzlement or secretion by
any person in possession of the
building
1) Those living in apartments People who qualify for Tenant Policies
2)Those renting a dwelling or any
portion of it
3) People who receive use of a
dwelling as a part of their
remuneration
Coverage C - Personal Property Coverages provided by Tenants Package Forms
i) Improvements at the
expense of the tenant
ii) $500 for theft and/or vandalism
Coverage D - Additional Living
,Expense 20% of Coverage C -
Personal Property
, An individually owned housing unit Condominium
in a building with several such
units
The insured a single amount of The Condominium Act Requires?
insurance in its own name
1) The value of the building The Condominium Act Covers
2)The value of common elements
1) Personal Property Coverage Condominium Owners are responsible to purchase what type of coverage?
2) Other Essential Coverages
- Loss assessment, unit
improvements or
betterment
1) Transportation 4 Perils that are covered on homeowners forms that are not
2) Burglary/Robbery automatically covered by Seasonal Residence Form
3) Vandalism or Malicious Acts
4) Glass Breakage
1) Must be insured with same Requirements that need to be met for a Seasonal Dwelling to be
insurer covered under Homeowners Forms
2) Must be a year round residence
3) Must not be rented
4) Must be heated by furnace or
electric
5) Must Be accessible by a
maintained road
Extra sheet(s) or slip(s) of paper Endorsement
attached to the policy indication
in writing any changes to the
contract which are agreed upon
This endorsement removes the Travel Trailer Floater
exclusion for owned trailer on IBC
Habitation Forms
1) Annual Premium Minimum retained premium on watercraft policies
2) Loss occurs in summer months
3) 75% Retained premium
$20/Day Watercraft - Loss of Use amounts
$200/Policy Year
1) Accumulative Damage Watercraft - Policy Exclusions
2) Wear & Tear
3) Work done on insured property
Comprehensive Questions with Their Verified Answers
2025 Rollout!
Terms in this set (274)
A home that is factory built on Mobile Home
its own chassis and which can be
easily moved
1) Fire Mobile Homes are most susceptible to these kinds of losses
2) Windstorm - tie downs for
greater stability
3) Hail - some policies contain
a dent clause
4) Transporting
5% of the amount of insurance on the Mobile Homeowners Form - Emergency Removal Expense Included
dwelling can be used to pay for
reasonable expenses for the loss
from an insured peril
1) Loss or damage caused by Mobile Homeowners Form - Exclusions
moving
2) Loss due to conversion,
embezzlement or secretion by
any person in possession of the
building
1) Those living in apartments People who qualify for Tenant Policies
2)Those renting a dwelling or any
portion of it
3) People who receive use of a
dwelling as a part of their
remuneration
Coverage C - Personal Property Coverages provided by Tenants Package Forms
i) Improvements at the
expense of the tenant
ii) $500 for theft and/or vandalism
Coverage D - Additional Living
,Expense 20% of Coverage C -
Personal Property
, An individually owned housing unit Condominium
in a building with several such
units
The insured a single amount of The Condominium Act Requires?
insurance in its own name
1) The value of the building The Condominium Act Covers
2)The value of common elements
1) Personal Property Coverage Condominium Owners are responsible to purchase what type of coverage?
2) Other Essential Coverages
- Loss assessment, unit
improvements or
betterment
1) Transportation 4 Perils that are covered on homeowners forms that are not
2) Burglary/Robbery automatically covered by Seasonal Residence Form
3) Vandalism or Malicious Acts
4) Glass Breakage
1) Must be insured with same Requirements that need to be met for a Seasonal Dwelling to be
insurer covered under Homeowners Forms
2) Must be a year round residence
3) Must not be rented
4) Must be heated by furnace or
electric
5) Must Be accessible by a
maintained road
Extra sheet(s) or slip(s) of paper Endorsement
attached to the policy indication
in writing any changes to the
contract which are agreed upon
This endorsement removes the Travel Trailer Floater
exclusion for owned trailer on IBC
Habitation Forms
1) Annual Premium Minimum retained premium on watercraft policies
2) Loss occurs in summer months
3) 75% Retained premium
$20/Day Watercraft - Loss of Use amounts
$200/Policy Year
1) Accumulative Damage Watercraft - Policy Exclusions
2) Wear & Tear
3) Work done on insured property
