AINS PRACTICE EXAM REVIEW
GRADED A+
One Ndistinguishing Nfeature Nbetween Nindependent Nagency Nsystems Nand Nother
Nmarketing Nsystems Nis Nthe... N- Ncorrect Nanswers N-agency Nexpiration Nlist
Foreign NInsurer N- Ncorrect Nanswers N-An Ninsurer Nlicensed Nto Noperate Nin Na Nstate
Nbut Nincorporated Nin Nanother Nstate
Domestic NInsurer N- Ncorrect Nanswers N-An Ninsurer Ndoing Nbusiness Nin Nthe
Njurisdiction Nin Nwhich Nit Nwas Nincorporated
Alien NInsurer N- Ncorrect Nanswers N-An Ninsurer Ndomiciled Nin Na Ncountry Nother
Nthan Nthe NUS
Direct NResponse NMarketing NSystem N- Ncorrect Nanswers N-Greatly Nreduces
Ncompensation Ncosts Nbut Nhas Nhigher Nadvertising Ncosts
, Agency NExpiration NList N- Ncorrect Nanswers N-An Nagency's Nmost Nvaluable Nasset
N(does Nnot Nbelong Nto Ninsurer)
Important Nconsideration Nwhen Nselecting Ndistribution Nchannels N- Ncorrect Nanswers
N-Does Nthe Nchannel Ncapitalize Non Nits Ncore Ncapabilities?
Knowledge Nacquired Nby Nthe Nagent Nis Npresumed Nto Nbe.. N- Ncorrect Nanswers N-
knowledge Nacquired Nby Nthe Ninsurer
Premium Ncollection Nmethod Nused Nfor Npersonal Ninsurance Nand Nsmall Ncommercial
Naccounts N- Ncorrect Nanswers N-Direct NBill
What Nspecifies Nscope Nof Nauthority Nof Nan Nagent? N- Ncorrect Nanswers N-Agency
Ncontract
Agency NBill N- Ncorrect Nanswers N-Payment Nprocedure Nin Nwhich Na Nproducer
Nsends Npremium Nbills Nto Nthe Ninsured, Ncollects Nthe Npremium, Nand Nsends Nthe
Npremium Nto Nthe Ninsurer, Nless Nany Ncommission
Item NBasis N- Ncorrect Nanswers N-Premium N(less Ncommission) Nis Nforwarded Nto
Nthe Ninsurer Nwhen Nthe Nproducer Ncollects Nit Nor Nwhen Nit Ncomes Ndue. NLeast
Ncomplex Nmethod
Statement NBasis N- Ncorrect Nanswers N-Insurer Nsends Nstatement Nto Nthe Nproducer
Nshowing Nthe Npremiums Ndue. NProducer Nis Nobligated Nto Npay Nthe Npremiums Nas
Ndue.
Account NCurrent NBasis N- Ncorrect Nanswers N-Producer Nperiodically Nprepares Na
Nstatement Nshowing Nthe Npremiums Ndue Nto Nthe Ninsurer, Nafter Ndeducting
Nappropriate Ncommissions, Nand Ntransmits Nthe Namount Nto Nthe Ninsurer. NThe
Nagency Ncontract Nwill Nindicate Nhow Noften Nthe Nproducer Nmust Nsubmit Nthe
Naccount Ncurrent Nstatement N(usually Nmonthly). NProducer Nmust Npay Nwhen
Npremium Nis Ndue, Neven Nif Npolicyholder Nhasn't Npaid.
Purposes Nof Nunderwriting N- Ncorrect Nanswers N-Develop Nand Nmaintain Na Nbook Nof
Nbusiness, Nguard Nagainst Nadverse Nselection, Nensure Nadequate Npolicyholder's
Nsurplus Nand Nenforce Nunderwriting Nguidelines
Experience NRating N- Ncorrect Nanswers N-A Nrating Nplan Nthat Nadjusts Nthe Npremium
Nfor Nthe Ncurrent Npolicy Nperiod Nto Nrecognize Nthe Nloss Nexperience Nof Nthe
Ninsured Norganization Nduring Npast Npolicy Nperiods
Schedule NRating N- Ncorrect Nanswers N-A Nrating Nplan Nthat Nawards Ndebits Nand
Ncredits Nbased Nspecific Ncategories, Nsuch Nas Nthe Ncare Nand Ncondition Nof
Npremises Nof Nthe Ntraining Nand Nselection Nof Nemployees, Nto Nreflect Na Nmodified
Npremium Nthat Nthe Nclass Nrate Ndoes Nnot Ninclude
GRADED A+
One Ndistinguishing Nfeature Nbetween Nindependent Nagency Nsystems Nand Nother
Nmarketing Nsystems Nis Nthe... N- Ncorrect Nanswers N-agency Nexpiration Nlist
Foreign NInsurer N- Ncorrect Nanswers N-An Ninsurer Nlicensed Nto Noperate Nin Na Nstate
Nbut Nincorporated Nin Nanother Nstate
Domestic NInsurer N- Ncorrect Nanswers N-An Ninsurer Ndoing Nbusiness Nin Nthe
Njurisdiction Nin Nwhich Nit Nwas Nincorporated
Alien NInsurer N- Ncorrect Nanswers N-An Ninsurer Ndomiciled Nin Na Ncountry Nother
Nthan Nthe NUS
Direct NResponse NMarketing NSystem N- Ncorrect Nanswers N-Greatly Nreduces
Ncompensation Ncosts Nbut Nhas Nhigher Nadvertising Ncosts
, Agency NExpiration NList N- Ncorrect Nanswers N-An Nagency's Nmost Nvaluable Nasset
N(does Nnot Nbelong Nto Ninsurer)
Important Nconsideration Nwhen Nselecting Ndistribution Nchannels N- Ncorrect Nanswers
N-Does Nthe Nchannel Ncapitalize Non Nits Ncore Ncapabilities?
Knowledge Nacquired Nby Nthe Nagent Nis Npresumed Nto Nbe.. N- Ncorrect Nanswers N-
knowledge Nacquired Nby Nthe Ninsurer
Premium Ncollection Nmethod Nused Nfor Npersonal Ninsurance Nand Nsmall Ncommercial
Naccounts N- Ncorrect Nanswers N-Direct NBill
What Nspecifies Nscope Nof Nauthority Nof Nan Nagent? N- Ncorrect Nanswers N-Agency
Ncontract
Agency NBill N- Ncorrect Nanswers N-Payment Nprocedure Nin Nwhich Na Nproducer
Nsends Npremium Nbills Nto Nthe Ninsured, Ncollects Nthe Npremium, Nand Nsends Nthe
Npremium Nto Nthe Ninsurer, Nless Nany Ncommission
Item NBasis N- Ncorrect Nanswers N-Premium N(less Ncommission) Nis Nforwarded Nto
Nthe Ninsurer Nwhen Nthe Nproducer Ncollects Nit Nor Nwhen Nit Ncomes Ndue. NLeast
Ncomplex Nmethod
Statement NBasis N- Ncorrect Nanswers N-Insurer Nsends Nstatement Nto Nthe Nproducer
Nshowing Nthe Npremiums Ndue. NProducer Nis Nobligated Nto Npay Nthe Npremiums Nas
Ndue.
Account NCurrent NBasis N- Ncorrect Nanswers N-Producer Nperiodically Nprepares Na
Nstatement Nshowing Nthe Npremiums Ndue Nto Nthe Ninsurer, Nafter Ndeducting
Nappropriate Ncommissions, Nand Ntransmits Nthe Namount Nto Nthe Ninsurer. NThe
Nagency Ncontract Nwill Nindicate Nhow Noften Nthe Nproducer Nmust Nsubmit Nthe
Naccount Ncurrent Nstatement N(usually Nmonthly). NProducer Nmust Npay Nwhen
Npremium Nis Ndue, Neven Nif Npolicyholder Nhasn't Npaid.
Purposes Nof Nunderwriting N- Ncorrect Nanswers N-Develop Nand Nmaintain Na Nbook Nof
Nbusiness, Nguard Nagainst Nadverse Nselection, Nensure Nadequate Npolicyholder's
Nsurplus Nand Nenforce Nunderwriting Nguidelines
Experience NRating N- Ncorrect Nanswers N-A Nrating Nplan Nthat Nadjusts Nthe Npremium
Nfor Nthe Ncurrent Npolicy Nperiod Nto Nrecognize Nthe Nloss Nexperience Nof Nthe
Ninsured Norganization Nduring Npast Npolicy Nperiods
Schedule NRating N- Ncorrect Nanswers N-A Nrating Nplan Nthat Nawards Ndebits Nand
Ncredits Nbased Nspecific Ncategories, Nsuch Nas Nthe Ncare Nand Ncondition Nof
Npremises Nof Nthe Ntraining Nand Nselection Nof Nemployees, Nto Nreflect Na Nmodified
Npremium Nthat Nthe Nclass Nrate Ndoes Nnot Ninclude
