AINS 102 Guides d'étude, Notes de cours & Résumés

Real property (realty) - Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal Property - possessions such as jewelry, furniture, and boats Damage to building by vandalism - Put a fence around the building - Loss Prevention Home burglary - Install burglar alarm - Loss reduction Tort Damages - compensatory damages and punitive damages Negligence Tort - careless neglect, often resulting in injury ...

When property is damaged, individuals sustain certain financial consequences as a result of the damage. These consequences can include Select one: A. Increased expenses. B. Coverage termination. C. Increased premiums. D. Policy endorsements. - A. Increased expenses. Which one of the following statements regarding assets exposed to loss is true? Select one: A. Real property includes intangible property. B. Earthquake damage to a swimming pool is an example of a personal property expos...

Personal property - All tangible or intangible property that is not real property. Policy period - The time frame, beginning with the inception date, during which insurance coverage applies. Post judgment interest - Interest that may accrue on damages after a judgment has been entered in a court and before the money is paid. Property loss exposure - A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruc...

Which one of the following statements is true regarding automobile insurance rating? Select one: A. State regulators require that all insurers offer discounts on auto rates for passive restraints. B. Most insurers base automobile rates on primary rating factors and do not consider any other factors in establishing rates. C. State regulators require that rates be adequate, reasonable, and not unfairly discriminatory. D. Drivers with lower-than-average loss exposure are charged higher rates. ...

AINS 102 QUESTIONS WITH 100 CORRECT ANSWERS VERIFIED_ UPDATED 2024 GRADED A+

Patrick's car is 12 years-old and has been driven for over 100,000 miles. He has decided that instead of continuing to pay insurance premium for coverage for property damage to his car, he will put the money aside to save for a new car. Which one of the following risk management techniques is Patrick using? Select one: A. Diversification B. Retention C. Avoidance D. Loss reduction ️ B Which one of the following statements regarding assets exposed to loss is true? Select one: A. R...

Arbitration ️ An alternative dispute resolution (ADR) method by which disputing parties use a neutral outside party to examine the issues and develop a settlement, which can be final and binding. Attachment ️ The act of seizing property to secure a judgment. Catastrophe ️ A single event that causes widespread losses. Civil law ️ A classification of law that applies to legal matters not governed by criminal law and that protects rights and provides remedies for breaches of duties o...

Which one of the following is considered real property? Select one: A. An automobile B. A house C. Furniture D. A motorhome ️ B The Davis family suffered extensive fire damage to its home and was temporarily unable to inhabit it. The family was forced to rent a hotel room while its home was under repair. The cost incurred to rent the hotel room is referred to as which one of the following outcomes of loss? Select one: A. Lost income B. Increased expenses C. Reduction in value of p...