A desirable version supporting web browsing, a printable PDF, and a desktop engine: the IBABC Canadian Accredited Insurance Broker (CAIB 3) package from TestPassKing offers all three, each carrying the same CAIB-3 practice questions.
IBABC CAIB-3 Exam Overview:
| Certification Vendor: | Insurance Brokers Association of Canada (IBAC) / Insurance Brokers Association of British Columbia (IBABC) |
|---|---|
| Exam Name: | Canadian Accredited Insurance Broker (CAIB 3) |
| Exam Number: | CAIB 3 |
| Certificate Validity Period: | The CAIB designation is earned after passing all four CAIB exams; no separate exam expiration period is specified by IBABC |
| Related Certifications: | Canadian Accredited Insurance Broker (CAIB 1) Canadian Accredited Insurance Broker (CAIB 2) Canadian Accredited Insurance Broker (CAIB 4) |
| Exam Price: | Included with CAIB New Edition 1.0 study-material purchase; standalone exam purchase is no longer available |
| Exam Format: | Multiple-choice questions, Short-answer questions, Definition questions |
| Exam Duration: | 210 minutes |
| Passing Score: | 60% |
| Available Languages: | English |
| Recommended Training: | IBABC CAIB Modules IBABC CAIB New Edition 1.0 |
| Exam Registration: | IBABC Exam Registration IBABC CAIB New Edition 1.0 Registration |
| Sample Questions: |  |
| Exam Way: | Online computer-based examination with proctoring. Available options include IBABC office, virtual proctoring, an active nominee or brokerage-appointed proctor, or an accredited educational institution. The exam is closed book. |
| Pre Condition: | CAIB 2 and CAIB 3 must be taken using the same textbook edition. Successful completion of both CAIB 2 and CAIB 3 qualifies for the General Insurance Salesperson Level 2 Licence in British Columbia. All four CAIB exams are required to obtain the CAIB designation. |
| Official Syllabus URL: | https://ibabc.org/CAIBNewEdition |
IBABC CAIB-3 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Surety Bonding | |
| Aviation Insurance | |
| Directors' and Officers' Liability Insurance | |
| Business Interruption Insurance | |
| Cyber Insurance | |
| Reinsurance | |
| Marine Insurance | |
| Crime Insurance | |
| Risk Assessment for Advanced Commercial Risks |
IBABC Canadian Accredited Insurance Broker (CAIB 3) FAQ: Tips, Versions, and Guarantees
IBABC Canadian Accredited Insurance Broker (CAIB 3) is an official Insurance Brokers Association of Canada (IBAC) / Insurance Brokers Association of British Columbia (IBABC) exam, catalogued under exam code CAIB-3. Passing it awards the Canadian Accredited Insurance Broker (CAIB) certification at the Professional level. It also connects with Canadian Accredited Insurance Broker (CAIB 1), Canadian Accredited Insurance Broker (CAIB 2), Canadian Accredited Insurance Broker (CAIB 4). It is built for candidates with ambitious aims, and the credential it grants is recognized accordingly.
IBABC Canadian Accredited Insurance Broker (CAIB 3) spans 9 official domains, led by Crime Insurance, Business Interruption Insurance, and Cyber Insurance. The complete outline sits above; before getting down to business, look through the whole contents quickly so every later practice session has context.
Passing IBABC Canadian Accredited Insurance Broker (CAIB 3) requires 60%, and official registration costs Included with CAIB New Edition 1.0 study-material purchase; standalone exam purchase is no longer available. Retakes bill the full Included with CAIB New Edition 1.0 study-material purchase; standalone exam purchase is no longer available again, so verify readiness before booking: when your TestPassKing practice scores clear the requirement repeatedly, including on questions you once marked as difficult, you are ready.
CAIB 2 and CAIB 3 must be taken using the same textbook edition. Successful completion of both CAIB 2 and CAIB 3 qualifies for the General Insurance Salesperson Level 2 Licence in British Columbia. All four CAIB exams are required to obtain the CAIB designation.
Requirements change from time to time, so confirm the current conditions before registering on the official exam page.
IBABC Canadian Accredited Insurance Broker (CAIB 3) registration is handled through the official channels below.
When you schedule, note that the exam is delivered Online computer-based examination with proctoring. Available options include IBABC office, virtual proctoring, an active nominee or brokerage-appointed proctor, or an accredited educational institution. The exam is closed book..
Insurance Brokers Association of Canada (IBAC) / Insurance Brokers Association of British Columbia (IBABC) recommends the following training for IBABC Canadian Accredited Insurance Broker (CAIB 3) candidates.
Combine any training with the 48 practice questions in the TestPassKing CAIB-3 package; one or two focused days of repeated practice after a course is often what locks the knowledge in.
Yes, a free demo of the IBABC Canadian Accredited Insurance Broker (CAIB 3) questions is available before purchase. Afterward, you can track freshness by the updating version number on the website, and whenever questions change we instantly email the details to you, free for 365 days. We even keep sending the latest questions after you pass, so you can follow every tiny change. After expiry, extending updates costs 50% of the regular price.
Your purchase carries a 100% money-back guarantee under clear conditions. Take the IBABC Canadian Accredited Insurance Broker (CAIB 3) exam within 60 days of purchase; if you fail, you may claim a full refund, provided the exam matches your product. Attempts within 3 days of purchase are ineligible, as are downloaded-but-unused products, free materials, and expired orders; the candidate name must match the payer name. Submit a scanned enrollment slip and the official Score Report PDF within 2 days of the exam, and claims are processed within 7 days. Alternatively, exchange for two other exam products of equal value, free, keeping the update service on your original purchase.
Delivery is instant: download after ordering, with an automatic email arriving within one minute. If nothing arrives within 2 hours, do not forget to check your junk mailbox, then contact customer service. Installation is unlimited across your computers.
IBABC Canadian Accredited Insurance Broker (CAIB 3) Sample Questions:
Name and explain where judicial bonds are filed. (3 marks)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
Judicial bonds are bonds required in connection with court proceedings. Depending on the matter, they may be filed with:
1. A probate court - usually for fiduciary matters such as estates, guardians or trustees.
2. A court of equity - usually for court actions involving plaintiffs or defendants.
The two broad classes of judicial bonds are Court Bonds and Fiduciary Bonds.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 5 - Judicial Bonds: Court Bonds and Fiduciary Bonds.
DEFINE: IN MOTION (1 mark)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
An aircraft is considered in motion when it is in flight or moving under its own power. It is also considered in motion while a propeller or rotor is being rotated by engine power.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 4 - Aviation Insurance, reference p. 4-23.
What are three (3) of the primary insurer's needs that can be satisfied through reinsurance? (3 marks)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
Three needs that reinsurance can satisfy are:
1. Increase the insurer's underwriting capacity.
2. Protect the insurer against large or catastrophic losses.
3. Stabilize the insurer's loss results from year to year.
Reference: CAIB 3 Training & Study Pack - Reinsurance: capacity, catastrophe protection and stabilization.
DEFINE: PARTICULAR AVERAGE (1 mark)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
Particular average is a partial loss to a specific marine shipment caused by an insured peril, other than a General Average loss.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 4 - Marine Insurance, Particular Average, reference p. 4-16.
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A bill of lading serves three (3) purposes. What are those purposes? (3 marks)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
A bill of lading serves as:
1. A contract of carriage between the shipper and carrier.
2. A receipt for the goods shipped.
3. A document of title to the goods.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 4 - Marine Insurance: Bill of Lading, reference p. 4-6.
