AINS BUNDLED exam questions with 100% verified correct answers

One distinguishing feature between independent agency systems and other marketing systems is the... - correct answer agency expiration list Foreign Insurer - correct answer An insurer licensed to operate in a state but incorporated in another state Domestic Insurer - correct answer An insurer ...

Exclusive agency is contracted to sell insurance for one insurer or group of insurers - correct answer The difference between an independent agency and an exclusive agency is that an Insurance shortages - correct answer Destructive competition in the insurance industry could result in Veronica...

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 C...

John is a recent homeowner and is considering the insurance coverages he needs for his home and contents. If damaged by a peril covered by a homeowners policy, which one of the following would be considered part of John's real property? Select one: A. The boat in the driveway B. The detached g...

The primary role of insurance is to - correct answer 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 c...

Property loss exposure - correct answer A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (re...

1) Clarence entered into a contract bond that guarantees his insulation work will be free from defects in materials and workmanship for a specified period of five years after completion of the work. The type of bond used by Clarence is a - correct answer Maintenance bond. 2) Which one of the foll...

Some loss exposures are not easy to retain, avoid, or control. Which one of the following risk management techniques is frequently used to treat such exposures? - correct answer Transfer A loss exposure is: - correct answer Any condition that presents the possibility of a loss. Another name fo...

Which one of the following statements is correct regarding the benefits provided by insurance? - correct answer Insurance helps reduce the financial burden to society by compensating accident victims. As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, ...