AINS 102 PT 3 EXAM QUESTIONS WITH ALL CORRECT ANSWERS
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AINS 102
Institution
AINS 102
AINS 102 PT 3 EXAM QUESTIONS WITH ALL CORRECT ANSWERS
Which one of the following is a warranty that is likely to be required by an insurer that underwrites a boatowners or yacht policy?
Select one:
A. Uninsured boaters
B. Contractual liability
C. Seaworthiness
D. Transportation - Answer- C
...
AINS 102 PT 3 EXAM QUESTIONS
WITH ALL CORRECT ANSWERS
Which one of the following is a warranty that is likely to be required by an insurer that
underwrites a boatowners or yacht policy?
Select one:
A. Uninsured boaters
B. Contractual liability
C. Seaworthiness
D. Transportation - Answer- C
The ownership and use of watercraft create various unique categories of loss
exposures. Which one of the following is true regarding small boat policies used to
cover many of these exposures?
Select one:
A. Coverage is included for Jet Skis and WaveRunners.
B. They cover boats up to 36 feet in length.
C. They usually include the boat, motor, equipment and trailer.
D. Most are written on a replacement cost basis. - Answer- C
Which one of the following policies is designed to provide bodily injury, personal injury,
and property damage liability coverage in case of a catastrophic claim, lawsuit or
judgment?
Select one:
A. Watercraft policy
B. Homeowners policy
C. Personal umbrella policy
D. Personal auto policy - Answer- C
Personal umbrella policies usually cover the insured's liability for personal injury. Under
the Personal Umbrella Liability Policy, which one of the following is included under the
definition of personal injury?
Select one:
A. Assault and battery intentionally committed
B. Professional liability
C. Abandonment
D. False arrest - Answer- D
Alex and his marketing team are evaluating various new insurance platforms to provide
research to serve their customers better. Which one of the following best describes
what the team has accurately discovered?
Select one:
, A. Tech-driven insurance platforms offer very different types of property insurance than
traditional insurers.
B. These platforms' differentiation is providing a specialized, tech-driven, and individual
customer response.
C. Startups do best when they quickly break into a new market and exclusively focus on
established customers.
D. Providing smart devices to insured homeowners will not prevent losses, but rather
lower claim payments. - Answer- B
Christina and Carlos Thomas have decided to place their auto insurance needs with the
Windspring Group, a type of insurance arrangement called peer-to-peer insurance.
Which one of the following will the Thomas family experience with this situation?
Select one:
A. Because of the consistent and reliable pool of funds, reinsurance will not usually be
needed for this type of insurance.
B. Because of the limited but consistent growth of peer-to-peer insurance, a majority of
states have approved the diverse regulatory requirements.
C. The Thomas' peer-to-peer group began on a local level and now has proven it can
easily and quickly achieve a countrywide presence.
D. Peer-to-peer insurance offers the novel insurance approaches of self-selection of
pool members and how to manage excess funds. - Answer- D
Telematics devices track driving habits and then
Select one:
A. Divide auto insurance applicants into homogeneous classes.
B. Transmit that information wirelessly to a computer.
C. Perform sophisticated modeling techniques to make that information relevant.
D. Classify each insured auto for its principal use. - Answer- B
The Transportation Network Driver Coverage (No Passenger) endorsement
Select one:
A. Adds a transportation network platform definition.
B. Provides coverage when the insured is logged into a transportation network platform
until the driver accepts a passenger's request.
C. Provides coverage without passengers while the driver is logged into a transportation
network platform.
D. Specifies that coverage does not apply to Part C—Uninsured Motorists Coverage. -
Answer- C
Which one of the following changes the definition of "business" in the homeowners
policy to include home-sharing?
Select one:
A. Damage to Property of Others—Increased Limits endorsement
B. Home-sharing Host Activities Damage to Property of Others provision
C. Broadened Home-sharing Host Activities Coverage Endorsement
D. Home-sharing Host Activities Amendatory Endorsement - Answer- D
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