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AINS 101 EXAM STUDY GUIDE AND PRACTICE EXAM 2024/2025 | ACCURATE REAL EXAM QUESTIONS WITH VERIFIED ANSWERS | EXPERT VERIFIED FOR A GUARANTEED PASS | LATEST UPDATE$17.99
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AINS 101 EXAM STUDY GUIDE AND PRACTICE EXAM 2024/2025 | ACCURATE REAL EXAM QUESTIONS WITH VERIFIED ANSWERS | EXPERT VERIFIED FOR A GUARANTEED PASS | LATEST UPDATE
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Course
AINS 101
Institution
AINS 101
AINS 101 EXAM STUDY GUIDE AND PRACTICE
EXAM 2024/2025 | ACCURATE REAL EXAM
QUESTIONS WITH VERIFIED ANSWERS |
EXPERT VERIFIED FOR A GUARANTEED PASS |
LATEST UPDATE
AINS 101 EXAM STUDY GUIDE AND PRACTICE
EXAM 2024/2025 | ACCURATE REAL EXAM
QUESTIONS WITH VERIFIED ANSWERS |
EXPERT VERIFIED FOR A GUARANTEED PASS |
LATEST UPDATE
The two main sectors of the insurance industry are
Property-casualty insurance and life-health insurance.
Because insurance contracts impose an obligation for ethical practices and
behaviors on the parties while dealing with one another, an insurance
contract is called a
Contract of utmost good faith.
Earned premiums are shown on an insurer's income statement because
they are
Revenues
Destructive competition in the insurance industry could result in
Insurance Shortages
3 multiple choice options
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 Andrea
are, respectively
Insured and claimant and claims representative
Which one of these is most directly associated with a satisfied customer?
Leads and referrals that can be used to generate new business
3 multiple choice options
, When conducting an advance audit, which of these tasks are performed to
assist underwriting?
Classify the various exposures
3 multiple choice options
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
Contract of adhesion
Smart products used to perform repetitive tasks
Robots
3 multiple choice options
What is the correct order for these steps in the claims process? Calculating
a loss reserve, preparing a loss statement, identifying the policy,
determining the cause of loss
Identifying the policy, calculating a loss reserve, determining the cause of
loss, preparing a loss statement
What is another name for a field underwriter?
Line Underwriter
Someone has the following duties: evaluate applicants that producers
submit, present policy quotations, process policy endorsements, help
explain coverages, make coverage recommendations. What is their role?
Field/Line Underwriter
In personal property-casualty insurance, which is more common:
manuscript forms or pre-printed policies?
Pre-printed policies
Which statement is true?
A policy begins with a coverage overview, then goes into more coverage
details
3 multiple choice options
Which of these is an example of general damages?
Compensation for disfigurement
3 multiple choice options
What are the four quadrants of risk?
Hazard, Operational, Financial, Strategic
What is a Hazard Risk?
A risk that arises from property, liability, or personnel loss exposures.
What is an operational risk?
A risk that arises from people or a failure in processes, systems, or
controls, including those involving information technology
What is a financial risk?
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