AINS 101 Exam Questions with 100%
Correct Answers
AINS 101 Exam Questions with 100%
Correct Answers
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?...
, AINS 101 Exam Questions with 100%
Correct Answers
A liability loss has the following damages:
Medical expenses:$10,000Damages for disfigurement:$50,000Damages for pain and
suffering:$100,000
What is the amount of special damages? - Answer ✓✓$ 10,000
A stock insurer differs from a reciprocal insurance exchange in which one of the
following ways? - Answer ✓✓Stockholders own a stock insurer. Members own a
reciprocal insurance exchange.
Actual cash value (ACV) is - Answer ✓✓Replacement cost minus depreciation
Adhering to the characteristics of an ideally insurable loss exposure in selling insurance
help assure that - Answer ✓✓The insurer is able to charge a premium that the insured
can afford to pay
After Marvin's car was stolen, and he was reimbursed for the loss by Greatson
Insurance, the police found and returned the vehicle, which was dented and spray-
painted, but still had parts that could be usable. Greatson's rights to recover and sell or
otherwise dispose of insured property on which it has paid a total loss are called -
Answer ✓✓Salvage rights
Alicia works for the Drewman Agency, Sandi at insurer Greenway Insurance, and Rosa
at Grossman Brokers, all as customer service representatives. Which one of the
following is true regarding their work? - Answer ✓✓Alicia can process policy
endorsements and explain coverage to her customers
All of the following are categories of liabilities found on an insurer's balance sheet,
EXCEPT: - Answer ✓✓Policyholders' surplus
All of the following are sources of underwriting information to evaluate an insurance
submission, EXCEPT: - Answer ✓✓Underwriting authority reports
Allian Insurance Company is a growing regional insurer selling policies in three states,
specializing in personal auto and homeowners policies. Which one of the following is
most likely true regarding Allian and the policies it sells? - Answer ✓✓Allian issues
more preprinted policies than manuscript forms.
An insurance policy is considered a contract of adhesion when it is drafted by the -
Answer ✓✓Insurer
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