100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AINS 101 EXAM | INSURANCE EXAM CORRECTLY ANSWERED AND RATED A+ | 2024/2025 GUIDE $9.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. AINS 101
  4.  
  5. AINS 101

Exam (elaborations)

AINS 101 EXAM | INSURANCE EXAM CORRECTLY ANSWERED AND RATED A+ | 2024/2025 GUIDE
 0 purchase
  • Course
  • AINS 101
  • Institution
  • AINS 101

AINS 101 EXAM | INSURANCE EXAM CORRECTLY ANSWERED AND RATED A+ | 2024/2025 GUIDE AINS 101 EXAM | INSURANCE EXAM CORRECTLY ANSWERED AND RATED A+ | 2024/2025 GUIDE AINS 101 EXAM | INSURANCE EXAM CORRECTLY ANSWERED AND RATED A+ | 2024/2025 GUIDE

Preview 3 out of 29  pages

Document information

  • November 5, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • AINS 101
  • AINS 101

Seller

avatar-seller
nursehailey

Reviews received

Content preview

AINS 101 EXAM | INSURANCE EXAM
CORRECTLY ANSWERED AND RATED
A+ | 2024/2025 GUIDE
A person or entity that would suffer a financial loss if property were
damaged has
A. A contractual interest.
B. A renewable interest.
C. A discretionary interest.
D. An insurable interest. - Correct Answer - D. An insurable interest.


Compensatory damages represent
A. Non-economic loss.
B. Damages to deter others from committing wrongful acts.
C. Actual harm suffered.
D. Out-of-pocket expenses. - Correct Answer - C. Actual harm suffered.


Damages for pain and suffering are a form of
A. Special damages.
B. Out-of-pocket damages.
C. Punitive damages.
D. General damages. - Correct Answer - D. General damages.


Insurance Producer - Correct Answer - Any of several kinds of insurance
personnel who place insurance business with insurers and who
represent either insurers or insureds, or both.

,Tony is a producer working with several different insurers. Which one of
the following most accurately describes Tony's activities for reaching and
serving customers?
A. A loss run will be most helpful to Tony in helping his personal
customers with their risk management concerns.
B. Tony will generally need to spend less time insuring a family's
activities than a business' services and liabilities.
C. Tony's job of selling is usually confined to the one type of insurance
coverage the customer initially requests from him.
D. Policy issuance is a more important function of Tony's work than
making sales or claims handling. - Correct Answer - B. Tony will
generally need to spend less time insuring a family's activities than a
business' services and liabilities.


Leadon Transportation is using the expertise of its producer Carmen to
help the organization understand how to correct substandard
performance as well as evaluate exceeded standards. One
measurement she will use is the cost of risk which is best described as
A. The allocation of risk management costs.
B. Substandard performance and/or risk management standards.
C. The terms of insurance or other risk-financing mechanisms.
D. The total cost of all aspects of the organization that relate to
managing risk. - Correct Answer - D. The total cost of all aspects of the
organization that relate to managing risk.


Robin, a producer from Grantley Insurance, is always alert to changes in
her clients' loss exposures. Why is this so important?
A. Implemented risk management techniques may prove to be
ineffective or become obsolete.

, B. Knowledge of such changes will inform their efforts to create a list of
experts that can be called to assist.
C. Producers have expertise about risk financing through insurance.
D. Producers can aid clients in developing risk management cost
allocation plans. - Correct Answer - A. Implemented risk management
techniques may prove to be ineffective or become obsolete.


Which one of the following lists provides the optimum order of
responsibilities that a producer may engage with any customer on a
continual basis?
A. Meeting a prospective customer, doing a needs and activities
analysis, preparing a coverage proposal, closing the sale
B. Meeting a prospective customer, reviewing a loss run, issuing a
policy, receiving a commission
C. Meeting a prospective customer, issuing the policy, collecting
premiums, adjusting a claim
D. Meeting a prospective customer, giving advice, issuing the policy,
adjusting a claim - Correct Answer - A. Meeting a prospective customer,
doing a needs and activities analysis, preparing a coverage proposal,
closing the sale


Waycroft Industries is working with their insurance producer Graydon
Murphy. Graydon and the risk managers at Waycroft have already
completed the first step of the risk consultation process. The second
step of the process is
Select one:
A. Determining the standards of acceptable performance to be used.
B. Doing an evaluation of any substantially exceeded standards.
C. Revising the standards or correcting any substandard performance.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller nursehailey. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64670 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Exam (elaborations) ·

(1)

Campbell Biology 11th Edition Urry, Cain, Wasserman, Minorsky, Reece Test Bank

Exam (elaborations) ·

(1)

AQA AS FURTHER MATHEMATICS 7366/2S Paper 2 Statistics Mark scheme June 2023

Exam (elaborations) ·

(0)

PORTAGE LEARNING A&P 1 101 FINAL EXAM 100 % VERIFIED QUESTION AND ANSWERS

Package deal ·

(0)

NOCTI Exam Bundle: Complete Question & Answer Package for Perfect Scores

Exam (elaborations) ·

(0)

NGR6462 FOUNDATIONS OF NEUROBIOLOGY LATEST EXAM WITH RATIONALES 2024

Exam (elaborations) ·

(0)

Study Guide PTSF Exam (over 100 Questions with Correct Answers) 2024 Update.

Exam (elaborations) ·

(0)

MN Driver's Permit Test (Numbers) | Questions and Answers(A+ Solution guide)

Exam (elaborations) ·

(0)

NCLEX RN Exam 800+ Verified Actual Questions, answers and explanations

Class notes ·

(0)

Official© Solutions Manual for America A NARRATIVE HISTORY,Tindall,10e
$9.99
  • (0)
Add to cart
Added