Canadian Accredited Insurance Broker (CAIB) Two Practice Exam

Which of the following is NOT a type of Dealer form besides Jewellers Block or Furriers Block Policies?

1. Fine art dealers

2. Grocery store owners

3. Coins and stamp dealers

4. Automobile dealers

The correct answer is: Grocery store owners

Grocery store owners do not fall under the same category as Dealer forms like Jewellers Block or Furriers Block Policies, which are designed specifically for businesses that deal in high-value goods requiring special coverage. Dealer forms provide insurance tailored to cover unique risks associated with certain types of merchandise, as opposed to standard retail operations. Fine art dealers, coins and stamp dealers, and automobile dealers are all examples of businesses that deal with specialized or high-value items that often necessitate specific insurance coverage due to their unique risks, such as theft, damage, or loss. These types of dealers often have policies that address the valuation, storage, and security of the unique items they handle. In contrast, grocery store owners operate retail businesses dealing primarily with perishable goods and everyday consumer items. Their insurance needs generally align more with traditional commercial property or liability coverage rather than specialized dealer forms, thus reinforcing why this option stands out as not fitting within the context of Dealer policies.