Ains 21 - Study guides, Class notes & Summaries

AINS 21 Exam Questions with All Correct Answers Which one of the following is generally exempt from state insurance regulations pertaining to policy forms and rates? A. Surplus line insurers B. Health insurers C. Commercial property insurers D. Workers compensation insurers - Answer Surplus line insurers A flex rating law is - Answer An insurance rating law under which prior approval is required only if the new rates exceed a certain percentage above (and sometimes below) the rate...

AINS 21 EXAM QUESTIONS AND ANSWERS

AINS 21 Practice Quiz Test Exam Questions with Verified Answers 1: What does AINS stand for in the context of insurance education? - correct answer - Associate in General Insurance. 2: What is the primary purpose of insurance? - correct answer - To transfer risk from an individual or business to an insurance company. 3: What is a premium in insurance terms? - correct answer - The amount of money an insured pays to an insurer for coverage.

What is insurance? It's a transfer system, business, and contract. What is a transfer system in insurance? One party (the insured), transfers the risk of financial loss to another party (the insurer). [Essentially, I'm giving the risk of financial loss to someone else so that I can keep my financial standing.] What are covered losses? These are costs that insurers pay for and are in the contract that both parties agree to in the beginning (wind damage, car accident, etc). The costs vary o...

AINS 21 Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

AINS 21 Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

AINS 21 Segment B (Chapters 4-6)| 114 Actual Questions and Answers 100% Correct | Updated 2024

AINS 21 - Segment A | 137 COMPLETE QUESTIONS AND ANSWERS 100% CORRECT | UPDATED 2024

AINS 21 Practice Exam Questions with 100% Correct Answers | Latest Version 2024 | Expert Verified | Ace the Test

AINS 21 EXAM TEST BANK 164 QUESTIONS WITH 100% CORRECT ANSWERS UPDATED What are four types of liability insurance that insurers provide? - Answer- 1) Auto 2) Commercial General 3) Personal 4) Professional How do insurers cover auto liability? - Answer- They cover an insured's liability for bodily injury to others and damage to the property of others resulting from auto-mobile accidents. How do insurers cover commercial general liability? - Answer- They cover businesses for their liabi...