AINS 101 EXAM NEWEST ACTUAL
EXAM 2025 QUESTIONS AND DETAILED
CORRECT ANSWERS | VERIFIED STUDY
GUIDE
ABC Company experienced a dramatic ideological shift in
corporate policies after a national election. This is an
example of which one of the following quadrants of risk?
Select one:
A. Strategic risk
B. Hazard risk
C. Operational risk
D. Financial risk Correct Answer A. Strategic risk
Autonomous Vehicle Applications (AVA) is a start-up
company that develops safety technologies that can be
sold to companies that are producing autonomous
vehicles. One technology AVA is developing allows an
autonomous vehicle to detect, extract, and analyze
images; and then to respond to the images. For example,
the technology would detect a presence in a crosswalk,
extract the image, and a computer would analyze the
image. When the image was determined to be a human
being, the vehicle would slow down or stop until the
crosswalk was clear. This technology, which is designed
to capture and analyze images, and to act on the
recognition of the image; is called
Select one:
A. Transducer technology.
,B. Accelerometer technology.
C. Computer vision.
D. Visual acuity. Correct Answer C. Computer vision.
Which one of the following best describes the concept of
pooling?
Select one:
A. Insurance benefits society as a whole.
B. Risk management is concerned with positive and
negative risks.
C. The financial consequences of unanticipated losses are
transferred to an insurer.
D. Insureds share the cost of each other's losses. Correct
Answer D. Insureds share the cost of each other's losses.
Reggie, Harper, Kimmie, and Stefan work in the claims
department of North Insurance Company (NIC). Which
one of the following is true regarding the various types of
claims personnel employed at NIC?
Select one:
A. Kimmie enjoys her role as a telephone claims
representative whose specialty is in-person meetings.
B. Stefan, a claims supervisor, reviews files and helps
determine staff development strategies.
C. Harper is a specialized claims representative who
works for a small local insurance organization.
D. Reggie, a field claims representative, works in NIC's
main office and likes having an indoor desk job. Correct
Answer B. Stefan, a claims supervisor, reviews files and
helps determine staff development strategies.
,Stephanie works for Waynesgood Insurance. She
appreciates the help she receives from Clem in the
company's claims department who provides her with
recent statistics and comments on Waynesgood's
customer satisfaction levels. Stephanie works in which
one of the following departments?
Select one:
A. Premium auditing
B. Marketing
C. Risk control
D. Underwriting Correct Answer B. Marketing
Henry is a new claims representative with Able Insurers.
Which one of the following will Henry find is true as he
gains more experience with his company's claims handling
process?
Select one:
A. Henry will determine the type of loss - such as property
damage or liability - for each claim he handles.
B. Henry sits in the cubicle next to another claims
representative, Marty, who assigns claims to Henry.
C. Henry learns that policy denials do not need to be
routinely reflected or included in the claims file.
D. Henry learns that all claims, no matter the
circumstances or parties involved, could involve
subrogation. Correct Answer A. Henry will determine the
type of loss - such as property damage or liability - for
each claim he handles.
Work on a new claim begins for claim representative Anita
upon receipt of a claim notice. Anita gathers initial
, information and verifies coverage. From the list of
activities below, the next step Anita would take in the
process is
Select one:
A. Set a loss reserve.
B. Make an offer to settle the claim.
C. Retain causation experts.
D. Assign the claim to defense counsel. Correct Answer A.
Set a loss reserve.
Wayne, an insured, submits a claim for a seven-year-old
refrigerator that was damaged due to lightning. Claims
representative Guillaume will probably factor in an
allowance for wear and tear. This is called
Select one:
A. Replacement cost.
B. Depreciation.
C. Stated amount.
D. Agreed amount. Correct Answer B. Depreciation
Actual cash value (ACV) is
Select one:
A. Replacement cost plus depreciation.
B. Replacement cost minus agreed value.
C. Agreed value minus depreciation.
D. Replacement cost minus depreciation. Correct Answer
D. Replacement cost minus depreciation.
Adjuster Toni is evaluating damages in a bodily injury
liability claim where she has determined that the insured is
completely at fault for the accident. The claimant suffered
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 or Stuvia-credit 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 TUTORWAC. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $22.99. You're not tied to anything after your purchase.
