Page 1 of 128
CAIB 2 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!!)
warranty .....ANSWER..... A promise that certain facts are as they
are represented to be and that they will remain so
hazard .....ANSWER..... A condition which may cause a peril to
occur
Latent defect .....ANSWER..... A hidden or concealed defect,
which cannot be discovered by reasonable and customary
inspection
Endorsement .....ANSWER..... Changes the terms or conditions of
the insured's policy
,Page 2 of 128
Messenger .....ANSWER..... The insured or a partner of the
insured or any employee who is duly authorized by the insured
to have the care and custody of the insured property outside the
premises
Damage to electrical equipment caused by artificially generated
electrical currents is excluded by most property insurance
policies. Under the fire policy, which of the following losses would
be insured?
A) damage time wiring of refigeration equipment by power
surge
B) fire damage to electrical motor arising after a sudden power
surge
C) damage to electrical switch due to power surge
,Page 3 of 128
D) damage to electrical wiring and switches by brown-out or
sudden reduction in power .....ANSWER..... B
The insurance acts of the common law provinces require that
every policy Insuring againsnt the peril of fire also insure:
A) lighting damage to electrical devices and appliances
B) windstorm
C) explosion of natural, coal or manufactured gas
D) smoke .....ANSWER..... C
All of the following methods used by common carriers to limit
liability except one. Pick the exception.
A) standard bull of lading
B) valued Bill of lading
, Page 4 of 128
C) enhanced bill of lading
D) released bill of lading .....ANSWER..... C
All of the following characteristics except one are common to
boiler and machinery policies. Pick the exception
A) insures objects against accidents
B) excludes coverage for mechanical or electrical breakdown
C) coverage provided is on a limit per accident basis
D) policy contains suspension clause .....ANSWER..... B
Insurance policies define certain terms as they relate to
coverage. The broadest meaning is given to :
A) burglary
B) theft
CAIB 2 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!!)
warranty .....ANSWER..... A promise that certain facts are as they
are represented to be and that they will remain so
hazard .....ANSWER..... A condition which may cause a peril to
occur
Latent defect .....ANSWER..... A hidden or concealed defect,
which cannot be discovered by reasonable and customary
inspection
Endorsement .....ANSWER..... Changes the terms or conditions of
the insured's policy
,Page 2 of 128
Messenger .....ANSWER..... The insured or a partner of the
insured or any employee who is duly authorized by the insured
to have the care and custody of the insured property outside the
premises
Damage to electrical equipment caused by artificially generated
electrical currents is excluded by most property insurance
policies. Under the fire policy, which of the following losses would
be insured?
A) damage time wiring of refigeration equipment by power
surge
B) fire damage to electrical motor arising after a sudden power
surge
C) damage to electrical switch due to power surge
,Page 3 of 128
D) damage to electrical wiring and switches by brown-out or
sudden reduction in power .....ANSWER..... B
The insurance acts of the common law provinces require that
every policy Insuring againsnt the peril of fire also insure:
A) lighting damage to electrical devices and appliances
B) windstorm
C) explosion of natural, coal or manufactured gas
D) smoke .....ANSWER..... C
All of the following methods used by common carriers to limit
liability except one. Pick the exception.
A) standard bull of lading
B) valued Bill of lading
, Page 4 of 128
C) enhanced bill of lading
D) released bill of lading .....ANSWER..... C
All of the following characteristics except one are common to
boiler and machinery policies. Pick the exception
A) insures objects against accidents
B) excludes coverage for mechanical or electrical breakdown
C) coverage provided is on a limit per accident basis
D) policy contains suspension clause .....ANSWER..... B
Insurance policies define certain terms as they relate to
coverage. The broadest meaning is given to :
A) burglary
B) theft
