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AINS 101 Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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AINS 101 Exam 2024 Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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AINS 101 - .pdf file:///C:/Users/HP/Desktop/eewwww/AINS%20101%20-%20AINS 101 EXAM Q&A
1. The two main sectors of the insurance industry are
ANS Property-casualty insur-ance and life-health insurance.
2. Because insurance contracts impose an obligation for ethical practices andbehaviors on
the parties while dealing with one another, an insurance contractis called a
ANS Contract of utmost good faith.
3. Earned premiums are shown on an insurer's income statement becausethey are
ANS Revenues
4. Destructive competition in the insurance industry could result in
ANS InsuranceShortages
5. Sean was driving and caused an injury to a pedestrian named Wilbur. In the context
of the resulting claim made to Sean's insurance company and assigned to Andrea in
the claims department, Sean and Wilbur and Andreaare, respectively
ANS Insured and claimant and claims representative
6. Which one of these is most directly associated with a satisfied customer?-
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,AINS 101 - .pdf file:///C:/Users/HP/Desktop/eewwww/AINS%20101%20-%20
ANS Leads and referrals that can be used to generate new business
7. When conducting an advance audit, which of these tasks are performed toassist
underwriting?
ANS Classify the various exposures
8. Because the insurance company usually determines policy wording and theinsured has
little choice but to "take it or leave it," an insurance contract is a
ANS Contract of adhesion
9. Smart products used to perform repetitive tasks
ANS Robots
10. What is the correct order for these steps in the claims process? Calculatinga loss reserve,
preparing a loss statement, identifying the policy, determiningthe cause of loss
ANS Identifying the policy, calculating a loss reserve, determining thecause of loss, preparing a
loss statement
11. What is another name for a field underwriter?
ANS Line Underwriter
12. Someone has the following duties
evaluate applicants that producers submit, present policy quotations, process policy
endorsements, help explaincoverages, make coverage recommendations. What is their
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