In all Canadian provinces except Alberta, the CAIB 2 exam is one of two exams you have to pass in order to get your Level 2 General Insurance License and also one of the four exams you need to earn your CAIB Designation.
The CAIB 3 exam follows the standard CAIB exam format:
- 12 Key Terms: selected from about 80 possible key terms
- 10 Multiple Choice Questions
- 26 Short Answer Questions: these questions are worth about 3 marks each and form the bulk of the exam. This is also where students usually find trouble.
Who needs these CAIB 3 Practice Questions?
The CAIB 3 exam is focused mainly on Commercial Liability insurance and introduces a bunch of complex legal concepts that are foreign to most people. It also introduces Risk Management, Commercial Automobile insurance, and other niche insurance products like Marine & Aviation and Surety Bonds.
On top of knowing the material, it’s also very important to get familiar with the way they word the questions on the exam and be able to apply the theoretical concepts to answer questions. In this practice question set, we provide ~1000 CAIB 3 Practice Questions for you to work with so you can face the exam with confidence.
Doing these practice questions can help you evaluate weak areas that you need to work on and give you a good idea of your abilities so you can face the exam with confidence. After all, practice makes perfect!
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Discounts given if purchasing CAIB 2 & 3 together. Tax included.
For Ontario licensees, we have a RIBO 2 Practice Question set and a separate practice question set for Alberta Level 2.
Fundamentals of Insurance, CAIB 1 & CAIB 2 Practice Questions are also available