AINS 101 - Course Quiz | 100% Correct Answers | Verified | Latest 2024 Version

The primary role of insurance is to - Indemnify individuals and organizations for covered losses. As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point? - When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing it. A homeowners policy is a type of - Personal property-casualty insurance policy. Coverage for money and other business property from various causes of loss such as burglary, robbery, theft, and employee dishonesty typically is provided by - Commercial crime insurance. Which one of the following describes the characteristics of a mutual insurance company? - A corporation owned by policyholders that provides insurance to its policyholders. An insurer that was formed for the purpose of earning a profit for its stockholders is a - Stock insurer