AINS 101 (ACTUAL 2025)| 112 QUESTION WITH
VERIFIED ANSWERS |
What is a mutual insurance company?
A corporation owned exclusively by the policyholders with
the objective of providing insurance for its members.
In which type of insurer is each member both an insured and
insurer?
Reciprocal Insurance Exchange
What insurer provides coverages unavailable in the standard
market?
Surplus lines
3 multiple choice options
Pravalt Construction Company pays less than its competitors
for workers compensation insurance because Pravalt has had
substantially fewer employee injuries than other firms in its
class. This illustrates which one of the following benefits of
insurance?
Promote risk control activity
3 multiple choice options
, AINS 101 (ACTUAL 2025)| 112 QUESTION WITH
VERIFIED ANSWERS |
Maria is a new producer who wears many hats when forming
relationships and then serving her established customers. In
this capacity, which one of the following scenarios most
accurately describes her ongoing work wearing the hat of
"claims handler"?
Veronica directly contacts Maria for guidance on how to
report a stolen car, Maria provides that, and claims rep Sean
takes over after an introduction from Maria.
3 multiple choice options
What is combined ratio?
loss ratio + expense ratio
What is the loss ratio?
incurred losses / earned premiums
What is the expense ratio?
Underwriting expenses/Written premiums
, AINS 101 (ACTUAL 2025)| 112 QUESTION WITH
VERIFIED ANSWERS |
What does a staff (corporate) underwriter do?
Research the market, formulate underwriting policy, revise
underwriting guidelines, develop coverage forms, review
rates, educate and train field underwriters, arrange
reinsurance, assist with complex accounts, conduct
underwriting audits
What does field (line) underwriter do?
Select insureds, ensure accurate classification and pricing,
recommend or provide coverage, manage a book of business,
support producers and insureds, support marketing objectives
What activities are performed by producers?
Sales, risk management review, policy issuance, premium
collection, customer service, claims handling
What does a risk management review look like for an
individual?
Interview or questionnaire about property and activities
VERIFIED ANSWERS |
What is a mutual insurance company?
A corporation owned exclusively by the policyholders with
the objective of providing insurance for its members.
In which type of insurer is each member both an insured and
insurer?
Reciprocal Insurance Exchange
What insurer provides coverages unavailable in the standard
market?
Surplus lines
3 multiple choice options
Pravalt Construction Company pays less than its competitors
for workers compensation insurance because Pravalt has had
substantially fewer employee injuries than other firms in its
class. This illustrates which one of the following benefits of
insurance?
Promote risk control activity
3 multiple choice options
, AINS 101 (ACTUAL 2025)| 112 QUESTION WITH
VERIFIED ANSWERS |
Maria is a new producer who wears many hats when forming
relationships and then serving her established customers. In
this capacity, which one of the following scenarios most
accurately describes her ongoing work wearing the hat of
"claims handler"?
Veronica directly contacts Maria for guidance on how to
report a stolen car, Maria provides that, and claims rep Sean
takes over after an introduction from Maria.
3 multiple choice options
What is combined ratio?
loss ratio + expense ratio
What is the loss ratio?
incurred losses / earned premiums
What is the expense ratio?
Underwriting expenses/Written premiums
, AINS 101 (ACTUAL 2025)| 112 QUESTION WITH
VERIFIED ANSWERS |
What does a staff (corporate) underwriter do?
Research the market, formulate underwriting policy, revise
underwriting guidelines, develop coverage forms, review
rates, educate and train field underwriters, arrange
reinsurance, assist with complex accounts, conduct
underwriting audits
What does field (line) underwriter do?
Select insureds, ensure accurate classification and pricing,
recommend or provide coverage, manage a book of business,
support producers and insureds, support marketing objectives
What activities are performed by producers?
Sales, risk management review, policy issuance, premium
collection, customer service, claims handling
What does a risk management review look like for an
individual?
Interview or questionnaire about property and activities
