K
C
LO
AINS 101 EXAM PREP
YC
QUESTIONS WITH CORRECT
ANSWERS ALL VERIFIED BY
D
AN EXPERT A+ GRADED
U
(LATEST UPDATE)
ST
, The two main sectors of the insurance industry are
Property-casualty insurance and life-health insurance.
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.
Earned premiums are shown on an insurer's income statement because they are
K
Revenues
C
Destructive competition in the insurance industry could result in
Insurance Shortages
3 multiple choice options
LO
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
YC
Insured and claimant and claims representative
Which one of these is most directly associated with a satisfied customer?
Leads and referrals that can be used to generate new business
3 multiple choice options
D
When conducting an advance audit, which of these tasks are performed to assist underwriting?
U
Classify the various exposures
3 multiple choice options
ST
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
Smart products used to perform repetitive tasks
Robots
3 multiple choice options
C
LO
AINS 101 EXAM PREP
YC
QUESTIONS WITH CORRECT
ANSWERS ALL VERIFIED BY
D
AN EXPERT A+ GRADED
U
(LATEST UPDATE)
ST
, The two main sectors of the insurance industry are
Property-casualty insurance and life-health insurance.
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.
Earned premiums are shown on an insurer's income statement because they are
K
Revenues
C
Destructive competition in the insurance industry could result in
Insurance Shortages
3 multiple choice options
LO
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
YC
Insured and claimant and claims representative
Which one of these is most directly associated with a satisfied customer?
Leads and referrals that can be used to generate new business
3 multiple choice options
D
When conducting an advance audit, which of these tasks are performed to assist underwriting?
U
Classify the various exposures
3 multiple choice options
ST
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
Smart products used to perform repetitive tasks
Robots
3 multiple choice options
