Every retake of the IBABC Canadian Accredited Insurance Broker (CAIB 3) exam costs the full fee again, plus the weeks of preparation you cannot recover. The 48 CAIB-3 practice questions at TestsDumps exist to make sure one attempt tells the whole story.
IBABC CAIB-3 Exam Overview:
| Certification Vendor: | IBABC (Insurance Brokers Association of British Columbia) |
|---|---|
| Exam Name: | Canadian Accredited Insurance Broker 3 (CAIB 3) |
| Exam Number: | CAIB-3 |
| Passing Score: | 60% |
| Exam Duration: | 210 minutes |
| Related Certifications: | CAIB 2 CAIB 4 CAIB 1 |
| Real Exam Qty: | Approx. 100 |
| Exam Price: | CAD $395 (first attempt); CAD $150–$300 (rewrite, varies by membership status) |
| Exam Format: | Short Answer Questions, Definition Questions, Multiple Choice |
| Certificate Validity Period: | Valid for licensing; continuing education required annually |
| Available Languages: | English |
| Recommended Training: | IBAC National CAIB Program Resources IBABC CAIB 3 Course Materials |
| Exam Registration: | IBABC Official Registration CAPTUS Exam Platform |
| Sample Questions: |  |
| Exam Way: | Online proctored or Onsite (IBABC Vancouver office or approved proctor) |
| Pre Condition: | CAIB 1 and CAIB 2 or equivalent; Level 1 licence eligibility varies by province |
| Official Syllabus URL: | https://www.ibabc.ca |
IBABC CAIB-3 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Commercial General Liability Insurance | - Legal perspective and liability exposures - CGL policy structure, coverages, and endorsements |
| Commercial Automobile Insurance | - Commercial auto policy forms and coverages - Garage and fleet exposures |
| Risk Management and Underwriting | - Risk identification and assessment - Loss control and risk mitigation strategies - Commercial underwriting principles |
| Specialty Insurance Lines | - Ocean Marine and Aviation Insurance - Surety Bonds - Crime Insurance and Fidelity Coverage |
CAIB-3 Exam FAQ: Reduce Your Risk, Read This First
IBABC Canadian Accredited Insurance Broker (CAIB 3) is an official IBABC (Insurance Brokers Association of British Columbia) exam, identified by exam code CAIB-3. Passing it earns the Canadian Accredited Insurance Broker (CAIB) certification at the Professional level. It also relates to CAIB 1, CAIB 2, CAIB 4. Certifications like this one remain a reliable route to standing out: they prove ability in a way resumes alone cannot.
The IBABC Canadian Accredited Insurance Broker (CAIB 3) exam contains Approx. 100 questions to complete within 210 minutes. The candidates who run out of time are usually the ones who never practiced against a clock. The TestsDumps software engine lets you limit your test time exactly like the real exam, exposing pacing weaknesses while they are still free to fix.
You need 60% to pass IBABC Canadian Accredited Insurance Broker (CAIB 3), and the official registration fee is CAD $395 (first attempt); CAD $150–$300 (rewrite, varies by membership status). Retakes charge the full CAD $395 (first attempt); CAD $150–$300 (rewrite, varies by membership status) again, which makes failing a genuinely expensive outcome. Reduce that risk the rational way: practice with the TestsDumps questions until your scores sit consistently above the requirement, then book.
CAIB 1 and CAIB 2 or equivalent; Level 1 licence eligibility varies by province
Vendor requirements change from time to time, so verify the current conditions before registering via the official exam page.
Registration for IBABC Canadian Accredited Insurance Broker (CAIB 3) runs through the official channels below.
One practical note: the exam is delivered Online proctored or Onsite (IBABC Vancouver office or approved proctor).
IBABC (Insurance Brokers Association of British Columbia) recommends the following training for IBABC Canadian Accredited Insurance Broker (CAIB 3) candidates.
Whatever training you take, anchor it with the 48 practice questions in the TestsDumps CAIB-3 package, each with a detailed explanation that turns every mistake into a lesson.
Yes. You can download the free demo of the IBABC Canadian Accredited Insurance Broker (CAIB 3) questions before you buy, and after purchase you have the right to one year of free updates. When your product expires, extending the update service costs 50% of the regular price. Three versions, PDF, software, and online APP, let you study the way that suits you.
A 100% money-back guarantee protects you under clear conditions. Take the IBABC Canadian Accredited Insurance Broker (CAIB 3) exam within 60 days of purchase; if you fail, you can 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, while keeping the update service on your original purchase.
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The IBABC Canadian Accredited Insurance Broker (CAIB 3) syllabus divides into 4 domains. The leading areas are Commercial Automobile Insurance, Risk Management and Underwriting, and Commercial General Liability Insurance. The complete outline is published above; knowing your shortcomings starts with knowing the syllabus.
IBABC Canadian Accredited Insurance Broker (CAIB 3) Sample Questions:
A primary insurer was offered a risk requiring $100 million of insurance, but only had capacity to underwrite
$40 million, so they opted for facultative reinsurance.
A) If the risk is reinsured using pro rata facultative insurance, how much of the coverage would belong to the primary insurer and how much does the reinsurer take on? (2 marks) B) What would it mean if they chose to use excess-of-loss facultative reinsurance instead? (1 mark) (3 marks)
Correct Answer:
See the answer in Explanation below.
Explanation:
A) The primary insurer would retain $40 million and the reinsurer would take $60 million. Under pro rata reinsurance, premiums and losses are shared in the agreed proportion.
B) With excess-of-loss reinsurance, the primary insurer would pay losses up to its $40 million retention, and the reinsurer would pay the amount above $40 million, up to the agreed reinsurance limit.
Reference: CAIB 3 Training & Study Pack - Reinsurance: facultative, pro rata and excess-of-loss reinsurance.
DEFINE: FIXED EXPENSES (BUSINESS INTERRUPTION) (1 mark)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
Fixed expenses are expenses that continue during a business interruption and do not change directly with the level of sales or production. Examples include rent, property taxes, insurance and certain salaries.
Reference: CAIB 3 Training & Study Pack - Business Interruption: continuing and fixed expenses.
DEFINE: CEDENT (1 mark)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
A cedent, or ceding company, is the insurer or reinsurer that transfers part of a risk to another reinsurer.
Reference: CAIB 3 Training & Study Pack - Reinsurance: cedent/ceding company terminology.
What is the name of the bond that protects governments in the event that duties and taxes collected by the principal are not remitted to the government? (1 mark)
- A. Consignment bonds.
- B. Government bonds.
- C. Reclamation bonds.
- D. Customs and excise bonds.
Correct Answer: D 🗳️
Explanation: Only visible for TestsDumps members. You can sign-up / login (it's free).
DEFINE: SURETY (1 mark)
Reveal Solution Discussion 0Correct Answer:
See the answer in Explanation below.
Explanation:
The surety is the party that guarantees the principal will fulfill an obligation to the obligee. If the principal defaults, the surety may have to perform or pay according to the bond.
Reference: IBAC CAIB 3 Student Resource Guide (2013), Chapter 5 - Surety Bonds: principal, obligee and surety.
