K
C
LO
AINS 101 EXAM PREP
YC
QUESTIONS WITH CORRECT
ANSWERS ALL VERIFIED BY
D
AN EXPERT A+ GRADED
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(LATEST UPDATE)
ST
, Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He
represents only ABC when marketing insurance products, and uses an administrative staff also
employed by ABC. Bill is a producer in the - ANS Direct writer marketing system
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 - ANS Contract of adhesion
Which one of the following best explains why producers should be alert to changes in clients'
loss exposures? - ANS Implemented risk management techniques may prove to be ineffective
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or become obsolete
At Greenfield Insurance Company, Bernadette and Rachel are corporate underwriters, and
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Tomas and Jose are field underwriters. All of the following are underwriting activities typically
performed by corporate (or staff) underwriters like Bernadette and Rachel, EXCEPT: - ANS
Support producers and insureds
LO
Joel is the underwriter for Stanton Industries. He received a notice from the premium auditor on
the account. After a recent visit to the insured's location, the auditor wanted to make Joel aware
of a decline in the business and some questionable business practices. Which one of the
following types of hazards is the auditor identifying? - ANS Moral hazards
YC
Moral hazards - ANS include questionable business practices or a failing business.
James West is a claims rep with Hatters Insurance. As he learns how to handle a claim from
start to finish, which one of the following best describes the correct order for him to follow during
this process? - ANS Identifying the policy, calculating a loss reserve, determining the cause of
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loss, preparing a loss statement
Margaret was severely injured and scarred due to a recent accident. Which one of the following
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is an example of general damages Margaret received? - ANS Compensation for disfigurement
Donna is an insurance producer. She makes an appointment with potential policyholder Sandie
ST
to review her loss exposures. She asks Sandie to complete a questionnaire to assist her in this
effort. Donna is conducting a - ANS Risk management review
Rachel is a new employee of Westley Insurance, and has been asked to review some existing
policies to become familiar with the types of policies she will be working with. Which one of the
following will Rachel find is true as she conducts her review? - ANS Rachel finds the policy
begins with a coverage overview and then goes into more coverage details.
Sports, Inc. is looking to obtain a commercial property policy on its building for $400,000. If their
insurer decides to charge them a rate of $0.50 per $100 of building insurance, what premium
must Sports, Inc. pay? - ANS $2,000
C
LO
AINS 101 EXAM PREP
YC
QUESTIONS WITH CORRECT
ANSWERS ALL VERIFIED BY
D
AN EXPERT A+ GRADED
U
(LATEST UPDATE)
ST
, Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He
represents only ABC when marketing insurance products, and uses an administrative staff also
employed by ABC. Bill is a producer in the - ANS Direct writer marketing system
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 - ANS Contract of adhesion
Which one of the following best explains why producers should be alert to changes in clients'
loss exposures? - ANS Implemented risk management techniques may prove to be ineffective
K
or become obsolete
At Greenfield Insurance Company, Bernadette and Rachel are corporate underwriters, and
C
Tomas and Jose are field underwriters. All of the following are underwriting activities typically
performed by corporate (or staff) underwriters like Bernadette and Rachel, EXCEPT: - ANS
Support producers and insureds
LO
Joel is the underwriter for Stanton Industries. He received a notice from the premium auditor on
the account. After a recent visit to the insured's location, the auditor wanted to make Joel aware
of a decline in the business and some questionable business practices. Which one of the
following types of hazards is the auditor identifying? - ANS Moral hazards
YC
Moral hazards - ANS include questionable business practices or a failing business.
James West is a claims rep with Hatters Insurance. As he learns how to handle a claim from
start to finish, which one of the following best describes the correct order for him to follow during
this process? - ANS Identifying the policy, calculating a loss reserve, determining the cause of
D
loss, preparing a loss statement
Margaret was severely injured and scarred due to a recent accident. Which one of the following
U
is an example of general damages Margaret received? - ANS Compensation for disfigurement
Donna is an insurance producer. She makes an appointment with potential policyholder Sandie
ST
to review her loss exposures. She asks Sandie to complete a questionnaire to assist her in this
effort. Donna is conducting a - ANS Risk management review
Rachel is a new employee of Westley Insurance, and has been asked to review some existing
policies to become familiar with the types of policies she will be working with. Which one of the
following will Rachel find is true as she conducts her review? - ANS Rachel finds the policy
begins with a coverage overview and then goes into more coverage details.
Sports, Inc. is looking to obtain a commercial property policy on its building for $400,000. If their
insurer decides to charge them a rate of $0.50 per $100 of building insurance, what premium
must Sports, Inc. pay? - ANS $2,000
