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AINS 101 - Course exam Questions with 100% Correct Answers The primary role of insurance is to - answerIndemnify 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? - answerWhen her car's windshield breaks, Ciara has to pay only ...

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5 páginas

Escrito en 2023/2024

Grado A+

TheStar

AINS 101 Exam Questions with 100% Correct Answers | Verified Actual cash value (ACV) - answerThe cost to replace property with new property of like kind and quality less depreciation. Adverse selection - answerInsuring individuals with a high probability of loss at a cost lower than the insurer would normally charge for that risk because it wasn't aware of the actual risk involved. Binder - answerA temporary written or oral agreement to provide insurance coverage until a formal written ...

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4 páginas

Escrito en 2023/2024

Grado A+

TheStar

Ains 102 Exam (Understanding Personal Insurance) Exam A, B And C Complete 500+ Questions & Correct Answers - Recently Released!

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214 páginas

Escrito en 2025/2026

Grado A+

TutorJay

The ultimate goal of the claims function is to secure the profit goal of the.... - Correct Answer ️️insurer In liability claims, the claimant is referred to as the... - Correct Answer ️️third party Field Claim Representative - Correct Answer ️️Investigates the scene of the loss, meets with the insured, claimants and others, and inspects the damage Traditionally, the risk management professional's role has been associated with loss exposures related to - Correct Answer ️ ...

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18 páginas

Escrito en 2024/2025

Grado A+

jackline98

AINS 101 Exam Questions with Completely Verified Answers Graded Perfect Score 6 Steps for a Claim - Correct Answers-i. Acknowledging a claim ii. Identifying the policy - identify what policy they have and if their coverage applies iii. Contacting the insured - contact the insured or their representative after you set reserves (money set aside for a claim that has been reported but not yet settled) iv. Investigating and documenting the claim - could include inspecting the scene, determine ...

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12 páginas

Escrito en 2024/2025

Grado A+

EddieBestStudy

One distinguishing feature between independent agency systems and other marketing systems is the... - ANSWER agency expiration list Foreign Insurer - ANSWER An insurer licensed to operate in a state but incorporated in another state Domestic Insurer - ANSWER An insurer doing business in the jurisdiction in which it was incorporated

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7 páginas

Escrito en 2024/2025

Grado A+

shantelleG

Maria accidentally rear-ended Kenneth at a stop light. After the two made sure they were both uninjured, they exchanged insurance information. Shortly afterward, Kenneth called Maria's insurer and talked to Javier to report the damages to his car. ______ is the claim's representative. - Javier Maria accidentally rear-ended Kenneth at a stop light. After the two made sure they were both uninjured, they exchanged insurance information. Shortly afterward, Kenneth called Maria's insur...

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36 páginas

Escrito en 2024/2025

Grado A+

TUTORJOEL

A liability loss has the following damages: Medical expenses:$10,000Damages for disfigurement:$50,000Damages for pain and suffering:$100,000 What is the amount of special damages? - $ 10,000 Special damages - specific, identifiable expenses Sean was driving and caused an injury to a pedestrian named Wilbur. In the context of the resulting claim made to Sean's insurance company and assigned to Andrea in the claims department, Sean and Wilbur and Andrea are, respectively, - Insured and ...

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12 páginas

Escrito en 2024/2025

Grado A+

TUTORJOEL

AINS 101 Exam Prep| Answered 100% Correctly| Latest Loss exposure any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium the price of the insurance coverage provided for a specified period Indemnify to restore a party who has sustained a loss to the same financial position that party held before the loss occurred Insured any person or organization who is insured under an insurance policy Property-casualty insurance one of the two...

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91 páginas

Escrito en 2024/2025

Grado A+

Phoebe312

Which of the following is an example of a legal requirement for individuals that could be met through insurance? a. contributing to the growth of the organization b. paying for losses c. obtaining personal auto insurance d. providing a source of investment funds - ANSWER c. obtaining personal auto insurance A fire destroys the kitchen in Rob and Laurie's home. Which insurance policy would provide coverage for the damage? a. Homeowners Policy (Personal Liability) b. Homeowners Polic...

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49 páginas

Escrito en 2024/2025

Grado A+

wilmug

AINS PRACTICE EXAM WITH CORRECT ANSWERS Which two of the four quadrants of risk are classified as pure risks? Select one: A. Hazard risks and operational risks B. Hazard risks and strategic risks C. Operational risks and financial risks D. Financial risks and strategic risks - CORRECT ANSWER-A. Hazard risks and operational risks Correct. Hazard risks and operational risks are pure risks. Because insurance contracts impose an obligation for ethical practices and behaviors on the p...

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22 páginas

Escrito en 2024/2025

Grado A+

supergrades1

AINS 101 Exam Prep| Complete Questions Answered 100% Correctly| Updated 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? A. Ciara needs her car to get to her job, and she needs her job to make car payments and pay for her car insurance. B. When her car's windshield break...

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91 páginas

Escrito en 2023/2024

Grado A+

PaulMarks

AINS 101 Exam Prep| Complete Questions Answered 100% Correctly| Updated 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? A. Ciara needs her car to get to her job, and she needs her job to make car payments and pay for her car insurance. B. When her car's windshield break...

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91 páginas

Escrito en 2023/2024

Grado A+

Thepassword

AINS 101 Exam Prep| Answered 100% Correctly| Latest Loss exposure any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium the price of the insurance coverage provided for a specified period Indemnify to restore a party who has sustained a loss to the same financial position that party held before the loss occurred Insured any person or organization who is insured under an insurance policy Property-casualty insurance one of the two...

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10 páginas

Escrito en 2023/2024

Grado A+

Thepassword

AINS 101 Exam Prep| Answered 100% Correctly| Latest Loss exposure any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium the price of the insurance coverage provided for a specified period Indemnify to restore a party who has sustained a loss to the same financial position that party held before the loss occurred Insured any person or organization who is insured under an insurance policy Property-casualty insurance one of the two...

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10 páginas

Escrito en 2023/2024

Grado A+

PaulMarks

AINS 101| 78 Questions and Answers, 100% Correct| Latest The two main sectors of the insurance industry are Property-casualty insurance and life-health insurance. 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. Earned premiums are shown on an insurer's income statement because they are Revenues Destructive competition in the insurance i...

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13 páginas

Escrito en 2023/2024

Grado A+

PaulMarks

AINS 101| 78 Questions and Answers, 100% Correct| Latest The two main sectors of the insurance industry are Property-casualty insurance and life-health insurance. 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. Earned premiums are shown on an insurer's income statement because they are Revenues Destructive competition in the insurance i...

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13 páginas

Escrito en 2023/2024

Grado A+

Thepassword

AINS 101 Exam Prep| Complete Questions Answered 100% Correctly| Updated 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? A. Ciara needs her car to get to her job, and she needs her job to make car payments and pay for her car insurance. B. When her car's windshield break...

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91 páginas

Escrito en 2023/2024

Grado A+

OriginalTestBanks

AINS 101 Exam Prep| Answered 100% Correctly| Latest AINS 101 Exam Prep| Answered 100% Correctly| Latest Loss exposure any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium the price of the insurance coverage provided for a specified period Indemnify to restore a party who has sustained a loss to the same financial position that party held before the loss occurred Insured any person or organization who is insured under an insur...

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10 páginas

Escrito en 2023/2024

Grado A+

OriginalTestBanks

AINS 101| 78 Questions and Answers, 100% Correct| Latest AINS 101| 78 Questions and Answers, 100% Correct| Latest The two main sectors of the insurance industry are Property-casualty insurance and life-health insurance. 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. Earned premiums are shown on an insurer's income statement because t...

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13 páginas

Escrito en 2023/2024

Grado A+

OriginalTestBanks

AINS 101 | 112 Question with 100 % correct answers | Verified| Updated Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a Contract of a...

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23 páginas

Escrito en 2023/2024

Grado A+

OriginalTestBanks

AINS 101 | 112 Question with 100 % correct answers | Verified| Updated Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a Contract of a...

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23 páginas

Escrito en 2023/2024

Grado A+

PaulMarks