100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
AINS 102 UPDATED PT 1 EXAM/50 Q’S AND A’S £9.97   Add to cart

Exam (elaborations)

AINS 102 UPDATED PT 1 EXAM/50 Q’S AND A’S

 5 views  0 purchase

AINS 102 UPDATED PT 1 EXAM/50 Q’S AND A’S

Preview 2 out of 12  pages

  • September 16, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
All documents for this subject (1)
avatar-seller
Victorious23
AINS 102 UPDATED PT 1 EXAM/50 Q’S AND
A’S
Which one of the following is considered real property?
Select one:
A. An automobile
B. A house
C. Furniture
D. A motorhome - -B

-The Davis family suffered extensive fire damage to its home and was
temporarily unable to inhabit it. The family was forced to rent a hotel room
while its home was under repair. The cost incurred to rent the hotel room is
referred to as which one of the following outcomes of loss?
Select one:
A. Lost income
B. Increased expenses
C. Reduction in value of property
D. Special damages - -B

-Springton Grocery was a experiencing a frequency of liability claims from
customers slipping and falling near the store entrance on rainy days. The
owners decided to purchase nonslip mats for the areas near the store
entrance and exit doors. The mats significantly reduced the frequency of slip
and fall claims. This is an example of which one of the following risk
management techniques?
Select one:
A. Loss prevention
B. Transfer
C. Avoidance
D. Loss reduction - -A

-Sophie was involved in an auto accident with another vehicle. The driver of
the other vehicle was seriously injured. The individual spent 10 days in the
hospital, missed 2 months of work, and continues to experience mental
distress. The other vehicle was also damaged, with repair costs of $5,000. It
was determined that Sophie was liable for the damages because she ran a
red light and caused the accident. Which one of the following damages would
be considered general damages?
Select one:
A. Damages to the vehicle
B. Mental distress compensation
C. Hospital and medical bills
D. Two months of lost wages - -B

, -Under the tort liability system, injured accident victims must prove that
Select one:
A. Another party was at fault before they can collect damages.
B. They are unable to purchase insurance from another source before they
can collect damages.
C. The insurance limits they have purchased are equal to or greater than the
state minimum limits before they can collect damages.
D. They have met the financial responsibility laws of the state before they
can collect damages. - -A

-Which one of the following is used by the majority of states to compensate
auto accident victims?
Select one:
A. Personal injury protection coverage
B. Tort liability system
C. Uninsured motorist coverage
D. Unsatisfied judgment funds - -B

-Estelle and Richie are very conservative and want to purchase insurance to
"cover everything" in order to lessen the worries of home ownership. Which
one of the following ISO forms will provide them dwelling and personal
property insurance with the broadest possible coverage?
Select one:
A. HO-2 Broad Form
B. HO-3 Special Form
C. HO-5 Comprehensive Form
D. HO-8 Modified Form - -C

-Which one of the following is true regarding the use of technology in home
risk management?
Select one:
A. Smart devices in the home have reaffirmed the need for existing claims
data to assess risk.
B. Data gathered from sensors is used by insurers for personalized pricing
and claims handling.
C. Technology is more prevalent, abundant, and useful in homes than in
automotive environments.
D. Sensors are generally regarded as useful in loss prevention, but not in loss
reduction. - -B

-Vivian is an auto claims adjuster. She wanted to make sure that the vehicle
identification number (VIN) of the damaged vehicle matched the VIN shown
on the Personal Auto Policy (PAP), the VIN can be found
Select one:
A. On the Declarations page.
B. On the state endorsements.

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 Victorious23. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £9.97. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78998 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

Start selling
£9.97
  • (0)
  Add to cart