AINS

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 Last document update:   ago

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. De...

AINS Practice Exam Review | with Complete Solution Last document update:   ago

One distinguishing feature between independent agency systems and other marketing systems is the... - agency expiration list Foreign Insurer - An insurer licensed to operate in a state but incorporated in another state Domestic Insurer - An insurer doing business in the jurisdiction in which it was incorporated Alien Insurer - An insurer domiciled in a country other than the US Direct Response Marketing System - Greatly reduces compensation costs but has higher advertising costs Agency ...

AINS Chapter 4 | 79 Questions with 100% Correct Answers Last document update:   ago

The authority that the principal specifically grants to the agent is contained in the agency contract. This authority is known as Select one: A. Apparent authority. B. Implied authority. C. Express authority. D. Contractual authority. - C In the legal relationship known as agency, which one of the following is the principal? Select one: A. Agent B. Insurer C. Insured D. Third party - B The primary duty of a principal to its agent is to Select one: A. Pay the agent for services per...