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AINS 102 Questions with Solutions A+ Scores
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AINS 102 Questions with Solutions A+ Scores
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AINS 102 Questions with SolutionsA+ Scores
All of the following items are examples of personal property, EXCEPT:
Select one:
A. Sports equipment
B. Silverware
C. A fishing boat
D. Underground pipes - -Underground pipes
-Which one of the following statements regarding assets exposed to loss is
true?
Select one:
A. Real property includes only tangible property.Correct. All real property is
tangible property having a physical form that can be seen or touched.
Personal property can include intangible property such as patents or
copyrights.
B. Earthquake damage to a swimming pool is an example of a personal
property loss exposure.
C. Personal property includes only tangible property.
D. Hail damage to a motor vehicle is an example of a real property loss
exposure. - -A. Real property includes only tangible property.
-Sophie was involved in an auto accident with another vehicle. The driver of
the other vehicle was seriously injured. The individual spent 10 days in the
hospital, missed 2 months of work, and continues to experience mental
distress. The other vehicle was also damaged, with repair costs of $5,000. It
was determined that Sophie was liable for the damages because she ran a
red light and caused the accident. Which one of the following damages would
be considered general damages?
Select one:
A. Damages to the vehicle
B. Hospital and medical bills
C. Two months of lost wages
D. Mental distress compensation - -D. Mental distress compensation
-SF Poultry learned that a number of individuals had become ill and
hospitalized after eating chicken from one of its processing plants. The
company did not advise the public or its distributors of the problem, and
made no effort to recall the spoiled product. Over 50 individuals ended-up
becoming ill from the spoiled chicken. SF Poultry was found liable in court. In
addition to having to pay the medical and hospital bills for the injured
individuals, damages were levied against SF Poultry to punish the company
,for its reckless and deceitful actions. These damages that were levied
against SF Poultry are known as
Select one:
A. General damages.
B. Punitive damages.
C. Special damages.
D. Necessary damages. - -B. Punitive damages.
-Which one of the following statements is true regarding automobile
insurance rating?
Select one:
A. State regulators require that all insurers offer discounts on auto rates for
passive restraints.
B. Most insurers base automobile rates on primary rating factors and do not
consider any other factors in establishing rates.
C. State regulators require that rates be adequate, reasonable, and not
unfairly discriminatory.
D. Drivers with lower-than-average loss exposure are charged higher rates. -
-C. State regulators require that rates be adequate, reasonable, and not
unfairly discriminatory.
-nsurers and other organizations that make insurance available to those who
are unable to obtain coverage from the standard market are collectively
called
Select one:
A. A reinsurance facility.
B. The residual market.
C. The secondary market.
D. An automobile insurance plan. - -B. The residual market.
-Estelle and Richie are very conservative and want to purchase insurance to
"cover everything" in order to lessen the worries of home ownership. Which
one of the following ISO forms will provide them dwelling and personal
property insurance with the broadest possible coverage?
Select one:
A. HO-2 Broad Form
B. HO-3 Special Form
C. HO-5 Comprehensive Form
D. HO-8 Modified Form - -C. HO-5 Comprehensive Form
-Rick and Jamie have chosen their first home and now are asking their
insurance agent Franklin to help advise them as to appropriate and
affordable insurance coverage. Which one of the following will most
accurately reflect the best coverage choice for Rick and Jamie?
Select one:
, A. As Rick and Jamie are buying and remodeling an older home, Franklin
suggests an HO-8 modified coverage form to provide appropriate coverage
for a building with a comparatively high replacement cost.
B. As Rick and Jamie will be buying a mansion, Franklin suggests an HO-5
comprehensive form as it provides the highest dollar amounts of any
coverage available.
C. As Rick and Jamie will be renting an apartment for a few years, Franklin
suggests an HO-2 broad form as they will not need any dwelling coverage.
D. As Rick and Jamie are buying a residential condo, Franklin suggests the
HO-3 special form as they will be needing limited dwelling cove - -As Rick
and Jamie are buying and remodeling an older home, Franklin suggests an
HO-8 modified coverage form to provide appropriate coverage for a building
with a comparatively high replacement cost.
-In the auto insurance policy definitions, an eligible private passenger auto,
pickup, or van of which the named insured becomes the owner during the
policy period is a
Select one:
A. Temporary substitute vehicle.
B. Newly acquired auto.
C. Replacement auto.
D. Trailer. - -B. Newly acquired auto.
-Phil, a claim representative, was assigned a claim for an auto theft. He
needs to determine the applicable Other Than Collision deductible for the
auto. Which one of the following sections of the Personal Auto Policy will
provide Phil with this information?
Select one:
A. Part E—Insured Duties Following an Accident or Loss
B. Endorsements section of the Declarations page
C. Part D—Damage to Your Auto Coverage
D. Schedule of Coverages section of the Declarations page - -D. Schedule of
Coverages section of the Declarations page
-Joel is a delivery driver for XYZ Auto Supply. He usually drives the company
van, but one day, since he only had to deliver a small part, Joel used his own
car that is insured with a Personal Auto Policy (PAP). While doing so, Joel was
involved in a two-vehicle accident and a liability claim was made against Joel
and XYZ Auto Supply. Which one of the following is an insured(s) under Joel's
PAP in this situation?
Select one:
A. Joel only
B. None
C. Joel and XYZ Auto Supply
D. XYZ Auto Supply only - -C. Joel and XYZ Auto Supply
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