AINS 101 Simulated Exam Quiz with Verified Answers | Latest 2024/2025

Exclusive agency is contracted to sell insurance for one insurer or group of insurers ️ The difference between an independent agency and an exclusive agency is that an Insurance shortages ️ Destructive competition in the insurance industry could result in Veronica directly contacts Maria for guidance on how to report a stolen car, Maria provides that, and claims rep Sean takes over after an introduction from Maria ️ Maria is a new producer who wears many hats when forming relationships and then serving her established customers. In this capacity, which one of the following scenarios most accurately describes her ongoing work wearing the hat of "claims handler"? $350 Replacement cost - Depreciation ️ John's two-year-old bicycle was stolen. The bicycle's purchase price was $700, its current replacement cost is $800, and depreciation was estimated at $450. What was the bicycle's actual cash value? Underwriting authority reports ️ All of the following are sources of underwriting information to evaluate an insurance submission, EXCEPT: Implemented risk management techniques may prove to be ineffective or become obsolete ️ Which one of the following best explains why producers should be alert to changes in clients' loss exposures? Field Underwriter ️ James works very closely with producers on a daily basis. In addition to evaluating the applicants that the producers submit, James is involved in presenting policy quotations, processing policy endorsements, helping to explain coverages, and making coverage recommendations. James works as a AINS 101 Simulated Exam Quiz with Verified Answers | Latest 2024/2025