AINS 102 FINAL PAPER UPDATED
QUESTIONS VERIFIED COMPLETE
ANSWERS 100 PERCENT CORRECT
◉ Christina and Carlos Thomas have decided to place their auto
insurance needs with the Windspring Group, a type of insurance
arrangement called peer-to-peer insurance. Which one of the
following will the Thomas family experience with this situation?
Select one:
A. The Thomas' peer-to-peer group began on a local level and now
has proven it can easily and quickly achieve a countrywide presence.
B. Peer-to-peer insurance offers the novel insurance approaches of
self-selection of pool members and how to manage excess funds.
C. Because of the consistent and reliable pool of funds, reinsurance
will not usually be needed for this type of insurance.
D. Because of the limited but consistent growth of peer-to-peer
insurance, a majority of states have approved the diverse regulatory
requirements.
Answer: B. Peer-to-peer insurance offers the novel insurance
approaches of self-selection of pool members and how to manage
excess funds.
,◉ A company that uses a mobile application or website to connect
riders with drivers and arrange transportation in a personal auto for
a fee is called a
Select one:
A. Limited transportation network.
B. Transportation network company.
C. Livery conveyance.
D. Personal auto company.
Answer: B. Transportation network company.
◉ Which one of the following is correct regarding the
Transportation Network Driver Coverage (No Passenger)
endorsement and the Limited Transportation Network Driver
Coverage (No Passenger) Endorsement to the personal auto policy?
Select one:
A. They both provide coverage until a passenger enters the vehicle.
B. They both exclude coverage when a passenger is occupying the
vehicle.
C. They both provide the same coverage, but one requires more
premium.
D. They both end coverage when an insured accepts a passenger's
request.
Answer: B. They both exclude coverage when a passenger is
occupying the vehicle.
, ◉ Erin makes custom draperies in the basement of her home.
Initially, she made these draperies for herself and family members,
but she began to sell these draperies to a broader audience. Which
one of the following exposures would likely be covered under an
unendorsed homeowners policy should Erin's home be destroyed by
a covered peril?
Select one:
A. The loss of customer data Erin stored on her computer
B. The loss of income from drapery sales while the home is rebuilt
C. The cost to replace her sewing equipment
D. The cost of materials purchased to aid in increasing sales
Answer: C. The cost to replace her sewing equipment
◉ Which one of the following changes the definition of "business" in
the homeowners policy to include home-sharing?
Select one:
A. Damage to Property of Others—Increased Limits endorsement
B. Home-sharing Host Activities Damage to Property of Others
provision
C. Home-sharing Host Activities Amendatory Endorsement
D. Broadened Home-sharing Host Activities Coverage Endorsement
Answer: C. Home-sharing Host Activities Amendatory Endorsement
QUESTIONS VERIFIED COMPLETE
ANSWERS 100 PERCENT CORRECT
◉ Christina and Carlos Thomas have decided to place their auto
insurance needs with the Windspring Group, a type of insurance
arrangement called peer-to-peer insurance. Which one of the
following will the Thomas family experience with this situation?
Select one:
A. The Thomas' peer-to-peer group began on a local level and now
has proven it can easily and quickly achieve a countrywide presence.
B. Peer-to-peer insurance offers the novel insurance approaches of
self-selection of pool members and how to manage excess funds.
C. Because of the consistent and reliable pool of funds, reinsurance
will not usually be needed for this type of insurance.
D. Because of the limited but consistent growth of peer-to-peer
insurance, a majority of states have approved the diverse regulatory
requirements.
Answer: B. Peer-to-peer insurance offers the novel insurance
approaches of self-selection of pool members and how to manage
excess funds.
,◉ A company that uses a mobile application or website to connect
riders with drivers and arrange transportation in a personal auto for
a fee is called a
Select one:
A. Limited transportation network.
B. Transportation network company.
C. Livery conveyance.
D. Personal auto company.
Answer: B. Transportation network company.
◉ Which one of the following is correct regarding the
Transportation Network Driver Coverage (No Passenger)
endorsement and the Limited Transportation Network Driver
Coverage (No Passenger) Endorsement to the personal auto policy?
Select one:
A. They both provide coverage until a passenger enters the vehicle.
B. They both exclude coverage when a passenger is occupying the
vehicle.
C. They both provide the same coverage, but one requires more
premium.
D. They both end coverage when an insured accepts a passenger's
request.
Answer: B. They both exclude coverage when a passenger is
occupying the vehicle.
, ◉ Erin makes custom draperies in the basement of her home.
Initially, she made these draperies for herself and family members,
but she began to sell these draperies to a broader audience. Which
one of the following exposures would likely be covered under an
unendorsed homeowners policy should Erin's home be destroyed by
a covered peril?
Select one:
A. The loss of customer data Erin stored on her computer
B. The loss of income from drapery sales while the home is rebuilt
C. The cost to replace her sewing equipment
D. The cost of materials purchased to aid in increasing sales
Answer: C. The cost to replace her sewing equipment
◉ Which one of the following changes the definition of "business" in
the homeowners policy to include home-sharing?
Select one:
A. Damage to Property of Others—Increased Limits endorsement
B. Home-sharing Host Activities Damage to Property of Others
provision
C. Home-sharing Host Activities Amendatory Endorsement
D. Broadened Home-sharing Host Activities Coverage Endorsement
Answer: C. Home-sharing Host Activities Amendatory Endorsement
