Page 1 of 79
CAIB 1 EXAMS NEWEST 2025 PACKAGE DEAL|
COMPLETE ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) GRADED
A+| CAIB 1 -4 ACTUAL EXAM TEST BANK (BRAND
NEW!!)
A home that is factory built on its own chassis and which can be
easily moved .....ANSWER..... Mobile Home
1) Fire
2) Windstorm - tie downs for greater stability
3) Hail - some policies contain a dent clause
4) Transporting .....ANSWER..... Mobile Homes are most
susceptible to these kinds of losses
5% of the amount of insurance on the dwelling can be used to
pay for reasonable expenses for the loss from an insured peril
,Page 2 of 79
.....ANSWER..... Mobile Homeowners Form - Emergency Removal
Expense Included
1)Loss or damage caused by moving
2) Loss due to conversion, embezzlement or secretion by any
person in possession of the building .....ANSWER..... Mobile
Homeowners Form - Exclusions
1) Those living in apartments
2) Those renting a dwelling or any portion of it
3) People who receive use of a dwelling as a part of their
remuneration .....ANSWER..... People who qualify for Tenant
Policies
Coverage C - Personal Property
i) Improvements at the expense of the tenant
ii) $500 for theft and/or vandalism
,Page 3 of 79
Coverage D - Additional Living Expense
20% of Coverage C - Personal Property .....ANSWER.....
Coverages provided by Tenants Package Forms
An individually owned housing unit in a building with several such
units .....ANSWER..... Condominium
The insured a single amount of insurance in its own name
.....ANSWER..... The Condominium Act Requires?
1) The value of the building
2) The value of common elements .....ANSWER..... The
Condominium Act Covers
1) Personal Property Coverage
2) Other Essential Coverages - Loss assessment, unit
improvements or betterment .....ANSWER..... Condominium
Owners are responsible to purchase what type of coverage?
1) Transportation
, Page 4 of 79
2) Burglary/Robbery
3) Vandalism or Malicious Acts
4) Glass Breakage .....ANSWER..... 4 Perils that are covered on
homeowners forms that are not automatically covered by
Seasonal Residence Form
1) Must be insured with same insurer
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 .....ANSWER.....
Requirements that need to be met for a Seasonal Dwelling to be
covered under Homeowners Forms
Extra sheet(s) or slip(s) of paper attached to the policy indication
in writing any changes to the contract which are agreed upon
.....ANSWER..... Endorsement
CAIB 1 EXAMS NEWEST 2025 PACKAGE DEAL|
COMPLETE ACTUAL EXAM QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) GRADED
A+| CAIB 1 -4 ACTUAL EXAM TEST BANK (BRAND
NEW!!)
A home that is factory built on its own chassis and which can be
easily moved .....ANSWER..... Mobile Home
1) Fire
2) Windstorm - tie downs for greater stability
3) Hail - some policies contain a dent clause
4) Transporting .....ANSWER..... Mobile Homes are most
susceptible to these kinds of losses
5% of the amount of insurance on the dwelling can be used to
pay for reasonable expenses for the loss from an insured peril
,Page 2 of 79
.....ANSWER..... Mobile Homeowners Form - Emergency Removal
Expense Included
1)Loss or damage caused by moving
2) Loss due to conversion, embezzlement or secretion by any
person in possession of the building .....ANSWER..... Mobile
Homeowners Form - Exclusions
1) Those living in apartments
2) Those renting a dwelling or any portion of it
3) People who receive use of a dwelling as a part of their
remuneration .....ANSWER..... People who qualify for Tenant
Policies
Coverage C - Personal Property
i) Improvements at the expense of the tenant
ii) $500 for theft and/or vandalism
,Page 3 of 79
Coverage D - Additional Living Expense
20% of Coverage C - Personal Property .....ANSWER.....
Coverages provided by Tenants Package Forms
An individually owned housing unit in a building with several such
units .....ANSWER..... Condominium
The insured a single amount of insurance in its own name
.....ANSWER..... The Condominium Act Requires?
1) The value of the building
2) The value of common elements .....ANSWER..... The
Condominium Act Covers
1) Personal Property Coverage
2) Other Essential Coverages - Loss assessment, unit
improvements or betterment .....ANSWER..... Condominium
Owners are responsible to purchase what type of coverage?
1) Transportation
, Page 4 of 79
2) Burglary/Robbery
3) Vandalism or Malicious Acts
4) Glass Breakage .....ANSWER..... 4 Perils that are covered on
homeowners forms that are not automatically covered by
Seasonal Residence Form
1) Must be insured with same insurer
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 .....ANSWER.....
Requirements that need to be met for a Seasonal Dwelling to be
covered under Homeowners Forms
Extra sheet(s) or slip(s) of paper attached to the policy indication
in writing any changes to the contract which are agreed upon
.....ANSWER..... Endorsement
