Canadian Accredited Insurance Broker (CAIB) Two Exam 2025 – 400 Free Practice Questions to Pass the Exam

Financial statements are often utilized by various professionals within the insurance sector, but they are not typically a direct source of information for an underwriter in the way that the other options are. Underwriters primarily focus on specific risk assessment criteria pertinent to the insurance policies they are evaluating.

Inspection reports provide critical insights into the condition of a property or asset, allowing underwriters to assess hazards and risks associated with insuring that property. Claims reports are essential for understanding the history of claims made on a policy or segment, helping underwriters to evaluate the likelihood of future claims based on past experiences. Underwriting guides and manuals offer standardized criteria and procedures for assessing risk, ensuring that underwriters apply consistent methods when evaluating different insurance applications.

While financial statements can be important, they usually serve more to inform broader business operations and decision-making rather than the specific underwriting process focused on evaluating and pricing insurance risks.