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AINS 101 - Increasing Your Insurance IQ Exam Questions And Answers Which of the following represents uncertainty about outcomes that can be negative or positive? - answerRisk The primary role of insurance is to - answerIndemnify individuals and organizations for covered losses. The insurance a...

AINS 101 Exam Questions With 100% Correct Answers Loss exposure - answerany condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium - answerthe price of the insurance coverage provided for a specified period Indemnify - answerto restore a party w...

AINS 101 Exam Questions With 100% Correct Answers Risk control can assist the claims department byanswerProviding laboratory analyses. Sports, Inc. is looking to obtain a commercial property policy on its building for $400,000. If their insurer decides to charge them a rate of $0.50 per $100 of ...

AINS 101 Exam Prep Questions with 100% Correct Answers 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 illus...

AINS 101 Simulated Exam With 100% Correct Answers 2024 Exclusive agency is contracted to sell insurance for one insurer or group of insurers - answerThe difference between an independent agency and an exclusive agency is that an Insurance shortages - answerDestructive competition in the insuranc...

AINS 101 Simulated Exam With 100% Correct Answers 2024 For a loss exposure to be ideally insurable it must be definite in (3 things) - answertime, cause, location The two main sectors of the insurance industry are - answerP/C and life-health Rachel is a new employee of Westley Insurance, and ha...

AINS 101: Practice Questions and Answers (Graded A+) Latest and Updated Which one of the following best describes the concept of pooling? - answerThe concept of pooling is that insureds share the cost of each other's losses As a single mother on a very tight budget, Ciara is tempted to skimp on...

AINS 101: Practice Questions and Answers (Graded A+) Joe and Helene are married with two teenage children and two dogs. They own three cars and a large house with a swimming pool in the back yard. Their insurance agent advised them that the pool, teenage drivers, and dogs put them at risk for la...

AINS Practice Exam Review With 100% Correct Answers One distinguishing feature between independent agency systems and other marketing systems is the... - answeragency expiration list Foreign Insurer - answerAn insurer licensed to operate in a state but incorporated in another state Domestic In...

AINS 101 Exam Questions with 100% Correct Answers | Verified 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 - answerDirect wr...

AINS 101 Exam Questions with 100% Correct Answers | Verified 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. providin...

AINS 101 Exam Questions with 100% Correct Answers | Verified One of the reasons for insurance regulation is to prevent destructive competition. In which one of the following scenarios would destructive competition be exhibited? - answerEast Insurance comes up with a new rate structure allowing ...

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...

AINS 101 Simulated Exam With 100% Correct Answers 2024 For a loss exposure to be ideally insurable it must be definite in (3 things) - answertime, cause, location The two main sectors of the insurance industry are - answerP/C and life-health Rachel is a new employee of Westley Insurance, and ha...