AINS 101 - Increasing Your Insurance IQ
Exam Questions and Answers (Latest
Update 2025) Verified Answers
Which of the following represents uncertainty about
outcomes that can be negative or positive? - Correct
Answers ✅Risk
The primary role of insurance is to - Correct Answers
✅Indemnify individuals and organizations for covered losses.
The insurance agent suggested that Sally's Snack Shop buy a
policy that combines property, crime, and liability coverage
into one policy. This is referred to as as a(n) - Correct
Answers ✅Commercial package policy (CPP)
Coverage for money and other business property from
various causes of loss such as burglary, robbery, theft, and
employee dishonesty typically provided by - Correct
Answers ✅Commercial crime insruance
Insurance Company wrote a commercial liability policy for a
manufacturer of off-road motorcycles. The potential cost of
the insured's loss exposure exceed Insurance Company's
capacity. Insurance Company could consider which one of the
following types of contractual transferring agreement to meet
its needs? - Correct Answers ✅Reinsurance
Which one of the following correctly describes a reason for
government involvement in property-casualty insruance? -
,AINS 101 - Increasing Your Insurance IQ
Exam Questions and Answers (Latest
Update 2025) Verified Answers
Correct Answers ✅Government programs can meet
legitimate public demands unmet by private insurers.
AVA is a start up company that develops safety technologies
that can be sold to companies that are producing
autonomous vehicles. One Technology AVA is developing
allows an autonomous vehicle to detect, extract, and analyze
images; and then to respond to those images. For example,
the technology would detect a presence in a crosswalk,
extract the image, and a computer would analyze the image.
When the image was determined to be a human being, the
vehicle would slow down or stop until the crosswalk was
clear. This technology, which is designed to capture and
analyze images, and to act on the recognition of the image id
called - Correct Answers ✅Computer vision
MFC offers a wide array of mutual fund options to investors.
Each mutual fund has a different fund objective and set of
investment guidelines that apply to the fund. While MFC gives
considerable freedom to its fund portfolio managers, they are
required to abide by the funds investment guidelines. To
monitor compliance, MFC developed a computer algorithm.
The computer algorithm continuously monitors each fund's
compliance with investment guidelines. If a fund manager
violates the investment guidelines, the computer
immediately notifies MFC's internal control director, and
corrective action is taken. MFC's use of the computer
algorithm to monitor investment compliance and to provide
, AINS 101 - Increasing Your Insurance IQ
Exam Questions and Answers (Latest
Update 2025) Verified Answers
notification when corrective action is necessary illustrates use
of - Correct Answers ✅Artificial intelligence
Which one of the following statements is correct regarding
the benefits provided by insurance? - Correct Answers
✅Insurance helps reduce the financial burden to society by
compensating accident victims.
As a single mother on a very tight budget, Ciara is tempted to
skimp on her insurance. However, her friend Mehmet tells her
not to skimp on insurance, because it will help manage her
cash flow. Which one of the following examples best
illustrates Mehmet's point? - Correct Answers ✅When her
car's windshield breaks, Ciara has to pay only $100 of the
$600 cost of replacing it.
Shelton Industries experienced a fire in its manufacturing
plant. Several employees suffered burns and smoke
inhalation injuries as they tried to escape the building. Which
one of Shelton Industries' commercial property-casualty
policies would pay for the employee's injuries and illnesses? -
Correct Answers ✅Workers compensation insurance
A homeowners policy is a type of - Correct Answers
✅Personal property-casualty insurance policy.
Exam Questions and Answers (Latest
Update 2025) Verified Answers
Which of the following represents uncertainty about
outcomes that can be negative or positive? - Correct
Answers ✅Risk
The primary role of insurance is to - Correct Answers
✅Indemnify individuals and organizations for covered losses.
The insurance agent suggested that Sally's Snack Shop buy a
policy that combines property, crime, and liability coverage
into one policy. This is referred to as as a(n) - Correct
Answers ✅Commercial package policy (CPP)
Coverage for money and other business property from
various causes of loss such as burglary, robbery, theft, and
employee dishonesty typically provided by - Correct
Answers ✅Commercial crime insruance
Insurance Company wrote a commercial liability policy for a
manufacturer of off-road motorcycles. The potential cost of
the insured's loss exposure exceed Insurance Company's
capacity. Insurance Company could consider which one of the
following types of contractual transferring agreement to meet
its needs? - Correct Answers ✅Reinsurance
Which one of the following correctly describes a reason for
government involvement in property-casualty insruance? -
,AINS 101 - Increasing Your Insurance IQ
Exam Questions and Answers (Latest
Update 2025) Verified Answers
Correct Answers ✅Government programs can meet
legitimate public demands unmet by private insurers.
AVA is a start up company that develops safety technologies
that can be sold to companies that are producing
autonomous vehicles. One Technology AVA is developing
allows an autonomous vehicle to detect, extract, and analyze
images; and then to respond to those images. For example,
the technology would detect a presence in a crosswalk,
extract the image, and a computer would analyze the image.
When the image was determined to be a human being, the
vehicle would slow down or stop until the crosswalk was
clear. This technology, which is designed to capture and
analyze images, and to act on the recognition of the image id
called - Correct Answers ✅Computer vision
MFC offers a wide array of mutual fund options to investors.
Each mutual fund has a different fund objective and set of
investment guidelines that apply to the fund. While MFC gives
considerable freedom to its fund portfolio managers, they are
required to abide by the funds investment guidelines. To
monitor compliance, MFC developed a computer algorithm.
The computer algorithm continuously monitors each fund's
compliance with investment guidelines. If a fund manager
violates the investment guidelines, the computer
immediately notifies MFC's internal control director, and
corrective action is taken. MFC's use of the computer
algorithm to monitor investment compliance and to provide
, AINS 101 - Increasing Your Insurance IQ
Exam Questions and Answers (Latest
Update 2025) Verified Answers
notification when corrective action is necessary illustrates use
of - Correct Answers ✅Artificial intelligence
Which one of the following statements is correct regarding
the benefits provided by insurance? - Correct Answers
✅Insurance helps reduce the financial burden to society by
compensating accident victims.
As a single mother on a very tight budget, Ciara is tempted to
skimp on her insurance. However, her friend Mehmet tells her
not to skimp on insurance, because it will help manage her
cash flow. Which one of the following examples best
illustrates Mehmet's point? - Correct Answers ✅When her
car's windshield breaks, Ciara has to pay only $100 of the
$600 cost of replacing it.
Shelton Industries experienced a fire in its manufacturing
plant. Several employees suffered burns and smoke
inhalation injuries as they tried to escape the building. Which
one of Shelton Industries' commercial property-casualty
policies would pay for the employee's injuries and illnesses? -
Correct Answers ✅Workers compensation insurance
A homeowners policy is a type of - Correct Answers
✅Personal property-casualty insurance policy.
