AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+.

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. Destructive competition in the insurance industry could result in: Insurance Shortages 5. Sean was driving and caused an injury to a pedestrian named Wilbur. In the context of the resulting claim made to Sean's insurance company and assigned to Andrea in the claims department, Sean and Wilbur and Andrea are, respectively: Insured and claimant and claims representative 6. Which one of these is most directly associated with a satisfied customer?- : Leads and referrals that can be used to generate new business 7. When conducting an advance audit, which of these tasks are performed to assist underwriting?: Classify the various exposures 8. Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a: Contract of adhesion 9. Smart products used to perform repetitive tasks: Robots 10. What is the correct order for these steps in the claims process? Calculating a loss reserve, preparing a loss statement, identifying the policy, determining the cause of loss: Identifying the policy, calculating a loss reserve, determining the cause of loss, preparing a loss statement 11. What is another name for a field underwriter?: Line Underwriter 12. Someone has the following duties: evaluate applicants that producers submit, present policy quotations, process policy endorsements, help explain coverages, make coverage recommendations. What is their role?: Field/Line Underwriter 13. In personal property-casualty insurance, which is more common: manuscript forms or pre-printed policies?: Pre-printed policies 14. Which statement is true?: A policy begins with a coverage overview, then goes into more coverage details 15. Which of these is an example of general damages?: Compensation for disfigurement 16. What are the fou