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AINS 101 EXAM 2024 QUESTIONS AND DETAILED ANSWERS VERIFIED BY EXPERTS FREQUENTLY TESTED QUESTIONS A GRADED ACCURATE ACTUAL EXAM GUARANTEED PASS LATEST UPDATE 2024 $24.49
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AINS 101 EXAM 2024 QUESTIONS AND DETAILED ANSWERS VERIFIED BY EXPERTS FREQUENTLY TESTED QUESTIONS A GRADED ACCURATE ACTUAL EXAM GUARANTEED PASS LATEST UPDATE 2024
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Course
AINS 101
Institution
AINS 101
AINS 101 EXAM 2024 QUESTIONS AND DETAILED ANSWERS VERIFIED
BY EXPERTS FREQUENTLY TESTED QUESTIONS A GRADED ACCURATE
ACTUAL EXAM GUARANTEED PASS LATEST UPDATE 2024
AINS 101 EXAM 2024 QUESTIONS AND DETAILED ANSWERS VERIFIED
BY EXPERTS FREQUENTLY TESTED QUESTIONS A GRADED ACCURATE
ACTUAL EXAM GUARANTEED PASS LATEST UPDATE 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 - CORRECT ANSWER >>>>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 - CORRECT
ANSWER >>>>Contract of adhesion
Which one of the following best explains why producers
should be alert to changes in clients' loss exposures? -
CORRECT ANSWER >>>>Implemented risk management
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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 Rachel,
EXCEPT: - CORRECT ANSWER >>>>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? - CORRECT ANSWER >>>>Moral
hazards
Moral hazards - CORRECT ANSWER >>>>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
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him to follow during this process? - CORRECT ANSWER
>>>>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? -
CORRECT ANSWER >>>>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 - CORRECT ANSWER >>>>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? - CORRECT ANSWER
>>>>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
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to charge them a rate of $0.50 per $100 of building
insurance, what premium must Sports, Inc. pay? -
CORRECT ANSWER >>>>$2,000
Destructive competition in the insurance industry could
result in - CORRECT ANSWER >>>>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? - CORRECT
ANSWER >>>>75%
Loss Ratio - CORRECT ANSWER >>>>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: - CORRECT ANSWER
>>>>Determining coverage quotes
Riley Turner is performing a comprehensive evaluation of
Hardwick Enterprises to make sure its insurance and risk
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