Ains 102 test - Study guides, Class notes & Summaries

AINS 102 Test Questions with All Correct Answers (Already Graded A+) Which one of the following causes of loss is covered under the other than collision (OTC) section of the Personal Auto Policy (PAP)? Select one: A. Hitting a tree B. Falling objects C. Overturn from the driver losing control D. Hitting another car - Answer- B. Falling objects Personal auto policy endorsements can be categorized into two main categories. One of these categories is Select one: A. Endorsements that pr...

AINS 102 Test Questions WITH Answers

Property loss exposure - ANSWER A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) - ANSWER Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property - ANSWER All tangible or intangible property that...

Arbitration - ANSWER An alternative dispute resolution (ADR) method by which disputing parties use a neutral outside party to examine the issues and develop a settlement, which can be final and binding. Attachment - ANSWER The act of seizing property to secure a judgment. Catastrophe - ANSWER A single event that causes widespread losses. Civil law - ANSWER A classification of law that applies to legal matters not governed by criminal law and that protects rights and provides remedies for b...

AINS 102 EXAM TEST BANK QUESTIONS WITH 100% CORRECT ANSWERS What does PAP stand for? - Answer- personal auto policy What Initial Contact With a Claimant Should Look Like - Answer- listen to the claimants full story show empathy verify coverage explain how details of the policy relate to the loss, including any exclusions or limitations that could affect coverage outline what will happen next in the investigation, what forms must be completed, and how long the claims process will take ...

John is a recent homeowner and is considering the insurance coverages he needs for his home and contents. If damaged by a peril covered by a homeowners policy, which one of the following would be considered part of John's real property? Select one: A. The boat in the driveway B. The detached garage C. The desk top computer D. The hockey net and equipment - B. The detached garage Which one of the following is considered real property? Select one: A. An automobile B. A house C. Furni...

AINS 102 (Latest 2024 / 2025 Update) Understanding Personal Insurance Exam | Questions and Verified Answers | 100% Correct | Grade A Question: For an agent, all of the following are advantages of cross-selling, EXCEPT: Select one: A. Ease of additional growth B. Increased profitability C. Improved customer retention D. Enhanced ability to compete strictly on price Answer: D Question: An insurance policy is an agreement between the insured and the insurer. Insureds purchase i...

AINS 102 (Latest 2024 / 2025 Update) Understanding Personal Insurance Exam Review | Questions and Verified Answers | 100% Correct Question: Telematics devices track driving habits and then Select one: A. Divide auto insurance applicants into homogeneous classes. B. Classify each insured auto for its principal use. C. Perform sophisticated modeling techniques to make that information relevant. D. Transmit that information wirelessly to a computer. Answer: D. Transmit that informati...

C. The detached garage - ANSWER John is a recent homeowner and is considering the insurance coverages he needs for his home and contents. If damaged by a peril covered by a homeowners policy, which one of the following would be considered part of John's real property? A. The desk top computer B. The boat in the driveway C. The detached garage D. The hockey net and equipment C. Intentional tort - ANSWER Paul was charged with assault and battery after he punched and injured his neighbor T...