Practice Exam for CAIB 1 Latest with complete solution

Practice Exam for CAIB 1 Latest with complete solution
Question : Consideration is...
a. The law of insurance
b. A promise between parties
c. A contract's binding force
d. An exchange of something of value
Correct answer: d. An exchange of something of value
Question : A stock company is...
a. A company that invests in other companies
b. A company owned by stockholders who provide the capital
to start and run the company
c. Is owned by customers of the company
d. A company that owns livestock
Correct answer: b. A company owned by stockholders who
provide the capital to start and run the company

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