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AINS 102 Ch 5 Exam-Questions with Correct Answers/ Verified/ Latest Update (2024/2025)
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AINS 102 Ch 5 Exam-Questions with Correct Answers/ Verified/ Latest Update (2024/2025)
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AINS 102 Ch 5 Exam-Questions with Correct Answers/ Verified/Latest Update (2024/2025)
Alex and his marketing team are evaluating various new insurance platforms to provide
research to serve their customers better. Which one of the following best describes what
the team has accurately discovered?
Select one:
A. These platforms' differentiation is providing a specialized, tech-driven, and individual
customer response.
B. Tech-driven insurance platforms offer very different types of property insurance than
traditional insurers.
C. Startups do best when they quickly break into a new market and exclusively focus on
established customers.
D. Providing smart devices to insured homeowners will not prevent losses, but rather lower
claim payments. - ✔✔A. These platforms' differentiation is providing a specialized, tech-
driven, and individual customer response.
Christina and Carlos Thomas have decided to place their auto insurance needs with the
Windspring Group, a type of insurance arrangement called peer-to-peer insurance. Which
one of the following will the Thomas family experience with this situation?
Select one:
A. Because of the consistent and reliable pool of funds, reinsurance will not usually be
needed for this type of insurance.
B. The Thomas' peer-to-peer group began on a local level and now has proven it can easily
and quickly achieve a countrywide presence.
C. Peer-to-peer insurance offers the novel insurance approaches of self-selection of pool
members and how to manage excess funds.
D. Because of the limited but consistent growth of peer-to-peer insurance, a majority of
states have approved the diverse regulatory requirements. - ✔✔C. Peer-to-peer insurance
offers the novel insurance approaches of self-selection of pool members and how to
manage excess funds.
Which one of the following is correct regarding the Transportation Network Driver Coverage
(No Passenger) endorsement and the Limited Transportation Network Driver Coverage (No
Passenger) Endorsement to the personal auto policy?
Select one:
, A. They both exclude coverage when a passenger is occupying the vehicle.
B. They both provide the same coverage, but one requires more premium.
C. They both provide coverage until a passenger enters the vehicle.
D. They both end coverage when an insured accepts a passenger's request. - ✔✔A. They
both exclude coverage when a passenger is occupying the vehicle.
Telematics devices track driving habits and then
Select one:
A. Transmit that information wirelessly to a computer.
B. Classify each insured auto for its principal use.
C. Perform sophisticated modeling techniques to make that information relevant.
D. Divide auto insurance applicants into homogeneous classes. - ✔✔A. Transmit that
information wirelessly to a computer.
Erin makes custom draperies in the basement of her home. Initially, she made these
draperies for herself and family members, but she began to sell these draperies to a broader
audience. Which one of the following exposures would likely be covered under an
unendorsed homeowners policy should Erin's home be destroyed by a covered peril?
Select one:
A. The cost to replace her sewing equipment
B. The cost of materials purchased to aid in increasing sales
C. The loss of income from drapery sales while the home is rebuilt
D. The loss of customer data Erin stored on her computer - ✔✔A. The cost to replace her
sewing equipment
Which one of the following changes the definition of "business" in the homeowners policy
to include home-sharing?
Select one:
A. Broadened Home-sharing Host Activities Coverage Endorsement
B. Home-sharing Host Activities Amendatory Endorsement
C. Home-sharing Host Activities Damage to Property of Others provision
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