Exam (elaborations)
AINS 102 EXAM/17 QUESTIONS WITH ANSWERS
- Institution
- AINS 102 EXAM/17 QUESTIONS WITH ANSWERS
AINS 102 EXAM/17 QUESTIONS WITH ANSWERS
[Show more]
Content preview
AINS 102 EXAM/17 QUESTIONS WITHANSWERS
HO-2 - -Broad Form- Provides named perils coverage for dwellings and
personal property and provides liability coverage
-H0-3 - -Special Form- Provides open peril coverage for dwellings, named
perils for personal property and liability coverage
-HO-4 - -Contents Broad Form- Often called renters insurance, it's designed
for tenants and other occupants of dwelling or apartments. It provides no
dwelling coverage, but it covers personal property on a named perils basis
and provides legal liability coverage
-HO-5 - -Comprehensive Form- Provides the broadest coverage of all HO
forms. It covers dwellings and personal property on an open perils basis, and
it provides liability coverage
-HO-6 - -Unit Owners Form- Designed for owners of a residential condo units
and provides limited dwelling coverage (typically walls in). Named perils
personal property is covered as, and it also comes with liability coverage
-HO-8 - -Modified Coverage Form- Designed for older buildings with high
replacement cost compared to market value. Dwelling and personal property
is covered under the limited named perils, and is only ACV. There is also
liability coverage
-What are the 6 most frequently used risk control techniques? - -Avoidance,
loss prevention, loss reduction, seperation, duplication, diversification
-Risk financing techniques fall into what two categories? - -Retention,
transfer
-What are the two financial consequences that occur when a liability claim
occurs? - -1. Cost to pay damages
2. Legal defense costs
-At-fault state law - -Tort liability system to determine who is responsible for
the financial consequences after an accident. Victims must prove the other
party was at fault in order to collect damages
-No-fault state law - -Automotive insurance covers accident victims on a
first party basis. Most of these laws apply only to bodily injury and not
property damage
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card for the summaries. There is no membership needed.
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 Victorious23. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £6.16. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
72042 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now