AINS 102 CH 6 EXAM QUESTIONS AND
ANSWERS 100% CORRECT!!
, Increasingly, insurers are able to assess drivers' skill and ability through
Select one:
A. Telematics.
B. Occupation.
C. Area of operation.
D. Restraints. - ANSWER A. Telematics.
Because they interview the applicant first, see the property or operations to be insured,
and evaluate the loss exposures, the most important primary source of information for
the underwriters is the
Select one:
A. Financial and credit-reporting service.
B. Producers.
C. Risk control representative.
D. Property-valuation guide supplier. - ANSWER B. Producers.
A customer service representative (CSR) receives a visit from Jack a customer who is
purchasing a building with a restaurant on the ground floor and two second-floor
apartments. Jack has never owned a commercial venture before and wants to arrange
for insurance coverage before he closes the sale. Which one of the following would be
the CSR's best approach to efficiently and competently help this customer?
Select one:
A. Go to the property with the customer for a "walk through" and note any concerns
B. Refer the customer to an insurance agency that specializes in commercial property
C. Help the customer determine what property and liability exposures he will assume in
the purchase and refer him to a qualified producer
D. Submit an application and photos of the property to an underwriter for a quote -
ANSWER C. Help the customer determine what property and liability exposures he will
assume in the purchase and refer him to a qualified producer
Which one of the following statements is correct with respect to an agency's or
brokerage's cost of writing new business?
Select one:
A. The cost of writing new business has no direct impact on an organization's bottom
line.
B. Acquisition costs in the insurance industry are low compared to other industries.
ANSWERS 100% CORRECT!!
, Increasingly, insurers are able to assess drivers' skill and ability through
Select one:
A. Telematics.
B. Occupation.
C. Area of operation.
D. Restraints. - ANSWER A. Telematics.
Because they interview the applicant first, see the property or operations to be insured,
and evaluate the loss exposures, the most important primary source of information for
the underwriters is the
Select one:
A. Financial and credit-reporting service.
B. Producers.
C. Risk control representative.
D. Property-valuation guide supplier. - ANSWER B. Producers.
A customer service representative (CSR) receives a visit from Jack a customer who is
purchasing a building with a restaurant on the ground floor and two second-floor
apartments. Jack has never owned a commercial venture before and wants to arrange
for insurance coverage before he closes the sale. Which one of the following would be
the CSR's best approach to efficiently and competently help this customer?
Select one:
A. Go to the property with the customer for a "walk through" and note any concerns
B. Refer the customer to an insurance agency that specializes in commercial property
C. Help the customer determine what property and liability exposures he will assume in
the purchase and refer him to a qualified producer
D. Submit an application and photos of the property to an underwriter for a quote -
ANSWER C. Help the customer determine what property and liability exposures he will
assume in the purchase and refer him to a qualified producer
Which one of the following statements is correct with respect to an agency's or
brokerage's cost of writing new business?
Select one:
A. The cost of writing new business has no direct impact on an organization's bottom
line.
B. Acquisition costs in the insurance industry are low compared to other industries.
