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AINS Bundled Exams Full Solution Pack with solved 100%
AINS Bundled Exams Full Solution Pack with solved 100%
[Mostrar más]AINS Bundled Exams Full Solution Pack with solved 100%
[Mostrar más]An occurrence as defined in the HO-3—Special Form (HO-3) is a(n) 
Choose one answer. 
A. Claim. 
B. Loss. 
C. Accident. 
D. Event. - Answer-C. Accident. An occurrence is an accident, including continuous or repeated 
exposure to substantially the same general harmful conditions. 
Purchasers of lon...
Vista previa 2 fuera de 9 páginas
Añadir al carritoAn occurrence as defined in the HO-3—Special Form (HO-3) is a(n) 
Choose one answer. 
A. Claim. 
B. Loss. 
C. Accident. 
D. Event. - Answer-C. Accident. An occurrence is an accident, including continuous or repeated 
exposure to substantially the same general harmful conditions. 
Purchasers of lon...
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 - Answer-Underground pipes 
Which one of the following statements regarding assets exposed to loss is true? 
Select one: 
A. Real property i...
Vista previa 3 fuera de 28 páginas
Añadir al carritoAll of the following items are examples of personal property, EXCEPT: 
Select one: 
A. Sports equipment 
B. Silverware 
C. A fishing boat 
D. Underground pipes - Answer-Underground pipes 
Which one of the following statements regarding assets exposed to loss is true? 
Select one: 
A. Real property i...
Risk - Answer-Uncertainty about outcomes, can be positive or negative 
- Risk management is concerned with both positive and negative, insurance alleviates the uncertainty 
associated with negative financial consequences 
Transferring - Answer-The act of moving the financial consequences of unantici...
Vista previa 1 fuera de 4 páginas
Añadir al carritoRisk - Answer-Uncertainty about outcomes, can be positive or negative 
- Risk management is concerned with both positive and negative, insurance alleviates the uncertainty 
associated with negative financial consequences 
Transferring - Answer-The act of moving the financial consequences of unantici...
Which one of the following statements is correct regarding the benefits that insurance provides? 
Select one: 
A. Insurers are prohibited from investing in such things as research or technological advancements. 
B. The premiums collected by insurers must be held in cash to be available to pay claims...
Vista previa 4 fuera de 225 páginas
Añadir al carritoWhich one of the following statements is correct regarding the benefits that insurance provides? 
Select one: 
A. Insurers are prohibited from investing in such things as research or technological advancements. 
B. The premiums collected by insurers must be held in cash to be available to pay claims...
Insuring agreement - Answer-A statement in an insurance policy that the insurer will, under 
described circumstances, make a loss payment or provide a service. 
Temporary total disability (TTD) - Answer-A disability caused by a work-related injury or disease that 
temporarily renders an injured work...
Vista previa 2 fuera de 8 páginas
Añadir al carritoInsuring agreement - Answer-A statement in an insurance policy that the insurer will, under 
described circumstances, make a loss payment or provide a service. 
Temporary total disability (TTD) - Answer-A disability caused by a work-related injury or disease that 
temporarily renders an injured work...
Loss exposure - Answer-Any condition or situation that presents a possibility of loss, whether or not 
an actual loss occurs 
Risk management - Answer-The process of making and implementing decisions that will minimize the 
adverse effects of accidental losses on an organization 
Loss prevention - A...
Vista previa 2 fuera de 8 páginas
Añadir al carritoLoss exposure - Answer-Any condition or situation that presents a possibility of loss, whether or not 
an actual loss occurs 
Risk management - Answer-The process of making and implementing decisions that will minimize the 
adverse effects of accidental losses on an organization 
Loss prevention - A...
Which one of the following lists the covered causes of loss (basic, broad, or special); the deductible 
amount; and any optional coverages? 
a. Commercial property conditions 
b. Commercial property declarations 
c. Causes of loss forms 
d. Commercial property coverage forms - Answer-b. Commercial p...
Vista previa 3 fuera de 23 páginas
Añadir al carritoWhich one of the following lists the covered causes of loss (basic, broad, or special); the deductible 
amount; and any optional coverages? 
a. Commercial property conditions 
b. Commercial property declarations 
c. Causes of loss forms 
d. Commercial property coverage forms - Answer-b. Commercial p...
In property insurance, the term "property in transit" refers to which one of the following? - AnswerC. Property while being transported by trucks, cars, buses, trains, airplanes, and ships 
Extra expenses are expenses, in addition to ordinary expenses, that an organization incurs to mitigate 
the ...
Vista previa 2 fuera de 10 páginas
Añadir al carritoIn property insurance, the term "property in transit" refers to which one of the following? - AnswerC. Property while being transported by trucks, cars, buses, trains, airplanes, and ships 
Extra expenses are expenses, in addition to ordinary expenses, that an organization incurs to mitigate 
the ...
Actual cash value (ACV) - Answer-The cost to replace property with new property of like kind and 
quality less depreciation. 
Adverse selection - Answer-Insuring individuals with a high probability of loss at a cost lower than 
the insurer would normally charge for that risk because it wasn't aware...
Vista previa 2 fuera de 5 páginas
Añadir al carritoActual cash value (ACV) - Answer-The cost to replace property with new property of like kind and 
quality less depreciation. 
Adverse selection - Answer-Insuring individuals with a high probability of loss at a cost lower than 
the insurer would normally charge for that risk because it wasn't aware...
when selecting a distribution channel, which one of the following is important consideration with 
regard to customer needs and characteristics 
Which of the following statements is correct regarding characteristics of ideally insurable loss 
exposures - Answer-ideally, loss exposures should be spre...
Vista previa 4 fuera de 34 páginas
Añadir al carritowhen selecting a distribution channel, which one of the following is important consideration with 
regard to customer needs and characteristics 
Which of the following statements is correct regarding characteristics of ideally insurable loss 
exposures - Answer-ideally, loss exposures should be spre...
One distinguishing feature between independent agency systems and other marketing systems is 
the... - Answer-agency expiration list 
Foreign Insurer - Answer-An insurer licensed to operate in a state but incorporated in another state 
Domestic Insurer - Answer-An insurer doing business in the juris...
Vista previa 2 fuera de 8 páginas
Añadir al carritoOne distinguishing feature between independent agency systems and other marketing systems is 
the... - Answer-agency expiration list 
Foreign Insurer - Answer-An insurer licensed to operate in a state but incorporated in another state 
Domestic Insurer - Answer-An insurer doing business in the juris...
risk management - Answer-the process of managing exposures to accidental losses 
risk management steps - Answer-identifying loss exposures; analyzing loss exposures; examining the 
feasibility of risk management techniques; selecting the appropriate risk management techniques; 
implementing the sele...
Vista previa 1 fuera de 3 páginas
Añadir al carritorisk management - Answer-the process of managing exposures to accidental losses 
risk management steps - Answer-identifying loss exposures; analyzing loss exposures; examining the 
feasibility of risk management techniques; selecting the appropriate risk management techniques; 
implementing the sele...
Pure Risk - Answer-A chance of loss or no loss, but no chance of gain. 
Speculative Risk - Answer-A chance of loss, no loss, or gain. 
Risk Management - Answer-Any effort to economically deal with uncertainty of outcomes(risk). 
Traditional Risk Management - Answer-Organizational risk management foc...
Vista previa 1 fuera de 3 páginas
Añadir al carritoPure Risk - Answer-A chance of loss or no loss, but no chance of gain. 
Speculative Risk - Answer-A chance of loss, no loss, or gain. 
Risk Management - Answer-Any effort to economically deal with uncertainty of outcomes(risk). 
Traditional Risk Management - Answer-Organizational risk management foc...
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