package of AINS 101 Exam |Latest Update Questions with 100% Correct Answers

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. providing a source of investment funds - c. obtaining personal auto in...

One distinguishing feature between independent agency systems and other marketing systems is the... - agency expiration list Foreign Insurer - An insurer licensed to operate in a state but incorporated in another state Domestic Insurer - An insurer doing business in the jurisdiction in which it w...

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 determ...

One of the reasons for insurance regulation is to prevent destructive competition. In which one of the following scenarios would destructive competition be exhibited? - East Insurance comes up with a new rate structure allowing "preferred customers" discounted policies when they continually re...

Which one of the following statements is correct regarding the benefits provided by insurance? A. Insurance reduces the financial consequences of loss exposures but not the related uncertainty. B. The reduction in losses paid by insurers due to risk control measures benefits individual insureds bu...

A liability loss has the following damages: Medical expenses:$10,000Damages for disfigurement:$50,000Damages for pain and suffering:$100,000 What is the amount of special damages? - $10,000 Which one of the following best explains why producers should be alert to changes in clients' loss expos...

Loss exposure - any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium - the price of the insurance coverage provided for a specified period Indemnify - to restore a party who has sustained a loss to the same financial position that party hel...

The type of insurance that provides periodic income payments to an insured who is unablbecause of sickness or injury is - Disability ine to work

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. providing a source of investment funds - c. obtaining personal auto in...