AINS 102 Questions And Answers Latest Graded A+.

AINS 102 Questions And Answers Latest Graded A+. 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 2. 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. Personalproperty 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. 3. 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 AINS 102 Questions And Answers Latest Graded A 2 / 25 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 4. 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. 3 / 25 B. Punitive damages. C. Special damages. D. Necessary damages.: B. Punitive damages. 5. 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. 6. 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. 7. 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 4 / 25 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 8. 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. 5 / 25 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 coverageavailable. 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. 9. 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. 10. 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 6 / 25 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 11. 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, Joelwas 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 7 / 25 12. The medical payments coverage in the Personal Auto Policy (PAP) applies to Select one: A. Any person occupying a covered auto. B. Any insured who is also covered by workers compensation for the same accident. C. Anyone occupying a car not owned by any insured but driven by an insured.D. Anyone injured in an accident involving an insured.: A. Any person occupyinga covered auto. 13. The Part B—Medical Payments Coverage of the Personal Auto Policy (PAP) contains an Other Insurance provision. If two automobile policies from different insurers cover the same owned vehicle, Select one: A. The insurer issuing the policy with the higher limits of liability will make the determination.