Ains simulated exam - Study guides, Class notes & Summaries

AINS 101 Simulated Exam Practice Questions and Answers 1: What does AINS stand for in the context of insurance education? - correct answer - AINS stands for Associate in General Insurance. 2: What is the primary purpose of insurance? - correct answer - The primary purpose of insurance is to transfer risk from an individual or entity to an insurance company. 3: What are the four elements of a legally binding insurance contract? - correct answer - The four elements are offer and acceptan...

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AINS 101 SIMULATED EXAM QUESTIONS AND ANSWERS

AINS 103-SIMULATED EXAM

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? - $10,000 Which one of the following best explains why producers should be alert to changes in clients' loss exposures? - Implemented risk management techniques may prove to be ineffective or become obsolete