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 Questions with Verified Answers |Latest 2024/2025. £8.35
Add to cart
Quickly navigate to
Preview
  2.  
  3. AINS 101
  4.  
  5. AINS 101

Exam (elaborations)

AINS 101 Exam Questions with Verified Answers |Latest 2024/2025.

 1 purchase
  • Module
  • AINS 101
  • Institution
  • AINS 101

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 ️ Direct writer marketing system Because the insurance company usually dete...

[Show more]

Preview 2 out of 14  pages

Document information

  • April 25, 2024
  • 14
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ains 101 exam
  • ains 101 exam questions with verified answers
  • 2024 ains 101 exam questions with verified answers

Written for

  • AINS 101
  • AINS 101

Seller

avatar-seller
AcademiaExpert

Reviews received

Content preview

AINS 101 Exam Questions with Verified Answers 2024. 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 ✔️ Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a ✔️ Contract of adhesion Which one of the following best explains why producers should be alert to changes in clients' loss exposures? ✔️ Implemented risk management techniques may prove to be ineffective or become obsolete At Greenfield Insurance Company, Bernadette and Rachel are corporate underwriters, and Tomas and Jose are field underwriters. All of the following are underwriting activities typically performed by corporate (or staff) underwriters like Bernadette and Rach el, EXCEPT: ✔️ Support producers and insureds Joel is the underwriter for Stanton Industries. He received a notice from the premium auditor on the account. After a recent visit to the insured's location, the auditor wanted to make Joel aware of a decline in the business and some questionable business practices. Which one of the following types of hazards is the auditor identifying? ✔️ Moral hazards Moral hazards ✔️ include questionable business practices or a failing business. James West is a claims rep with Hatters Insurance. As he learns how to handle a claim from start to finish, which one of the following best describes the correct order for him to follow during this process? ✔️ Identifying the policy, calculating a loss reserve, determining the cause of loss, preparing a loss statement Margaret was severely injured and scarred due to a recent accident. Which one of the following is an example of general damages Margaret received? ✔️ Compensation for disfigurement Donna is an insurance producer. She makes an appointment with potential policyholder Sandie to review her loss exposures. She asks Sandie to complete a questionnaire to assist her in this effort. Donna is conducting a ✔️ Risk management review Rachel is a new employee of Westley Insurance, and has been asked to review some existing policies to become familiar with the types of policies she will be working with. Which one of the following will Rachel find is true as she conducts her review? ✔️ Rachel finds the policy begins with a coverage overview and then goes into more coverage details. 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 building insurance, what premium must Sports, Inc. pay? ✔️ $2,000 Destructive competition in the insurance industry could result in ✔️ Insurance shortages The financial report for Hometown Insurer contains the following information: Earned premiums$4,000,000Written premiums$5,000,000Net investment income$1,000,000Incurred losses$3,000,000Incurred underwriting expenses$2,000,000 What is Hometown Insurer's loss ratio? ✔️ 75% Loss Ratio ✔️ incurred losses divided by its earned premiums Jessie is a new customer service representative (CSR) at the Winfield Agency. Jessie usually engages in all the following activities, EXCEPT: ✔️ Determining coverage quotes Riley Turner is performing a comprehensive evaluation of Hardwick Enterprises to make sure its insurance and risk management efforts are

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 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 AcademiaExpert. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £8.35. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

71250 documents were sold in the last 30 days

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

Start selling

Recently viewed by you

Exam (elaborations) ·

(0)

BIOD 171 MODULE 6 Questions With All Correct Answers Already Passed!!

Exam (elaborations) ·

(0)

NR222 Unit Six Exam – Nursing and Wellness across the Lifespan

£8.35  1x  sold
  • (0)
Add to cart
Added