AINS 101 Practice Questions | 100% Correct Answers | Verified | Latest 2024 Version

Which one of the following best describes the concept of pooling? - The concept of pooling is that insureds share the cost of each other's losses As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point? - When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing it Shelton Industries experienced a fire in its manufacturing plant. Several employees suffered burns and smoke inhalation injuries as they tried to escape the building. Which one of Shelton Industries' commercial property-casualty policies would pay for the employees' injuries and illnesses? - Workers compensation insurance Coverage for money and other business property from various causes of loss such as burglary, robbery, theft, and employee dishonesty typically is provided by - Commercial crime insurance All of the following are types of private insurers, EXCEPT: - State workers compensation funds