Online Access Free CAIB-3 Exam Questions

In reviewing Directors' and Officers' Liability Insurance policy forms, brokers must take care to compare the differences in coverage between insurers. There are many elements to review - list six (6) of those elements.
(3 marks)

DEFINE: CYBER RISK (1 mark)

Fred's Fried Things is a busy fast food business and has protocol in place to make sure they don't have too much cash on site, depositing it at the bank twice per day. Today, while taking the first deposit to the bank, the manager is robbed at gunpoint. Is there coverage available for this loss? Why or why not? (3 marks)

Your client has gross earnings coverage. Although many of his employees are unskilled, and therefore readily replaceable, your client wants to protect them in the event of an interruption. Which of the following options is available to your client? (1 mark)

• A.Ordinary payroll can be covered for 120 days.
• B.Ordinary payroll can be covered for 180 days.
• C.Ordinary payroll can be covered for 90 days.
• D.Both A) or C).

DEFINE: CEDENT (1 mark)