AINS 102 UPDATED ACTUAL EXAM
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE
◉ Attachment
Answer: The act of seizing property to secure a judgment.
◉ Catastrophe
Answer: A single event that causes widespread losses.
◉ Civil law
Answer: A classification of law that applies to legal matters not
governed by criminal law and that protects rights and provides
remedies for breaches of duties owed to others.
◉ Compensatory damages
Answer: A payment awarded by a court to reimburse a victim for
actual harm.
◉ Compulsory auto insurance law
, Answer: Law that requires the owners or operators of automobiles
to carry automobile liability insurance at least equal to certain
minimum limits before the vehicle can be licensed or registered.
◉ Criminal law
Answer: The branch of the law that imposes penalties for wrongs
against society.
◉ Cross-selling
Answer: Selling new types of insurance products to existing clients.
◉ Damages
Answer: Money claimed by, or a monetary award to, a party who has
suffered loss or injury for which another party is legally responsible.
◉ Deductible
Answer: A portion of a covered loss that is not paid by the insurer.
◉ Financial responsibility laws
Answer: Law enacted to ensure that motorists have the financial
ability to pay for any property damage or bodily injury they might
cause as a result of driving or owning an auto.
QUESTIONS AND CORRECT ANSWERS
COMPLETE STUDY GUIDE
◉ Attachment
Answer: The act of seizing property to secure a judgment.
◉ Catastrophe
Answer: A single event that causes widespread losses.
◉ Civil law
Answer: A classification of law that applies to legal matters not
governed by criminal law and that protects rights and provides
remedies for breaches of duties owed to others.
◉ Compensatory damages
Answer: A payment awarded by a court to reimburse a victim for
actual harm.
◉ Compulsory auto insurance law
, Answer: Law that requires the owners or operators of automobiles
to carry automobile liability insurance at least equal to certain
minimum limits before the vehicle can be licensed or registered.
◉ Criminal law
Answer: The branch of the law that imposes penalties for wrongs
against society.
◉ Cross-selling
Answer: Selling new types of insurance products to existing clients.
◉ Damages
Answer: Money claimed by, or a monetary award to, a party who has
suffered loss or injury for which another party is legally responsible.
◉ Deductible
Answer: A portion of a covered loss that is not paid by the insurer.
◉ Financial responsibility laws
Answer: Law enacted to ensure that motorists have the financial
ability to pay for any property damage or bodily injury they might
cause as a result of driving or owning an auto.
