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AINS 101 simulated exam Latest Update Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor€20,13
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AINS 101 simulated exam Latest Update Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor
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AINS 101 Simulated
AINS 101 simulated exam Latest Update Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor
AINS 101 simulated exam Latest Update 2024-
2025 Actual Exam with Questions and 100%
Verified Correct Answers Guaranteed A+ At First
Attempt Verified By Professor
$10,000 - CORRECT ANSWER: A liability loss has the following damages:
Medical expenses: $10,000
Damages for disfigurement: $50,000
Damages for pain and suffering: $100,000
What is the amount of special damages?
$2,000 - CORRECT ANSWER: Sports, Inc. is looking to obtain a commercial property
policy on its building for $400,000. If their insurer decides to charge them a rate of $0.50
per $100 of building insurance, what premium must Sports, Inc. pay?
$350 Replacement cost - Depreciation - CORRECT ANSWER: John's two-year-old
bicycle was stolen. The bicycle's purchase price was $700, its current replacement cost
is $800, and depreciation was estimated at $450. What was the bicycle's actual cash
value?
75% - CORRECT ANSWER: The financial report for Hometown Insurer contains the
following information:
Earned premiums $4,000,000
Written premiums $5,000,000
Net investment income $1,000,000
Incurred losses $3,000,000
Incurred underwriting expenses $2,000,000
What is Hometown Insurer's loss ratio?
, Allian issues more preprinted policies than manuscript forms. - CORRECT ANSWER:
Allian Insurance Company is a growing regional insurer selling policies in three states,
specializing in personal auto and homeowners policies. Which one of the following is
most likely true regarding Allian and the policies it sells?
Apply to the part of the policy period that has already occurred - CORRECT ANSWER:
Earned premiums are the portion of written premiums that
Balance sheet - CORRECT ANSWER: Rachel is considering investing in the stock of an
insurance company. Which one of the following is likely to provide the best indication of
the insurer's financial position at this point in time?
Besides risk management goals being attainable, they should also pose a challenge -
CORRECT ANSWER: Riley Turner is performing a comprehensive evaluation of
Hardwick Enterprises to make sure its insurance and risk management efforts are
serving the organization appropriately. Which one of the following will be true in regard
to this effort?
Capacity - CORRECT ANSWER: Which one of the following is the amount of business
an insurer can write based on regulatory guidelines, usually a comparsion of the
insurer's written premiums to the policyholders' surplus?
Classify the various exposures - CORRECT ANSWER: Sota's Superstore has recently
become an insured of Keithly Insurance Company. Kaito, Keithly's premium auditor, is
being sent to conduct an advance audit. Which one of the following tasks will Kaito do to
assist underwriting?
Compensation for disfigurement - CORRECT ANSWER: Margaret was severely injured
and scarred due to a recent accident. Which one of the following is an example of
general damages Margaret received?
Contract of adhesion - CORRECT ANSWER: Because the insurance company usually
determines policy wording and the insured has little choice but to "take it or leave it," an
insurance contract is a
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