AINS 102 SIMULATED EXAM QUESTIONS AND ANSWERS 100% CORRECT!!

Which one of the following statements is true regarding no-fault automobile insurance? - ANSWER Most no-fault laws apply only to bodily injury and not to property damage. Sally has an unendorsed HO-3 policy. Sally's swimming pool was drained by vandals who opened a drain valve. The water was replaced at a cost of $2,500 to Sally, including labor to deliver and pump the water. The HO-3 policy - ANSWER Does not cover the cost of the replaced water. Jack and Linda are meeting with their insurance agent to review their homeowners and auto policies. The agent has suggested that they add an umbrella policy. Which one of the following is the best reason the agent will likely provide for purchasing this coverage? - ANSWER To provide increased limits for large jury awards Which one of the following is considered real property? - ANSWER A brick storage shed Defense costs coverage is included under Section II—Liability Coverages in the HO-3 policy. This coverage - ANSWER Is supplemental to the liability limit. In which one of the following ways do Fair Access to Insurance Requirements (FAIR) plans provide needed support for credit? - ANSWER Provide adequate property insurance coverage. In an HO-3 policy, the definitions - ANSWER Might be different from dictionary definitions. Which one of the following is a key way in which cross-selling benefits customers? - ANSWER Convenience Usage-based insurance (UBI) is - ANSWER A type of auto insurance in which the premium is based on the policyholder's driving behavior. Which one of the following is an expense paya