Answers for ains exam - Study guides, Class notes & Summaries

AINS 101 Exam; Questions and Answers 100% Solved Risk Correct answer Which one of the following represents uncertainty about outcomes that can be negative or positive? Insureds share the cost of each other's losses. Correct answer Which one of the following best describes the concept of pooling? Personal property-casualty insurance policy. Correct answer A homeowners policy is a type of Select one: Commercial crime insurance. Correct answer Coverage for money and other business p...

AINS 101 Exam Prep; Questions and Answers 100% Solved Loss exposure Correct answer any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium Correct answer the price of the insurance coverage provided for a specified period Indemnify Correct answer to restore a party who has sustained a loss to the same financial position that party held before the loss occurred Insured Correct answer any person or organization who is insured under a...

AINS 101 EXAM NEWEST 2024 ACTUAL EXAM TEST BANK COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ Which one of the following statements is correct regarding the interaction between risk control and other insurer functions? Select one: A. Risk control personnel can assist underwriters in modifying a new applicant's loss exposures to meet eligibility requirements. B. Risk control personnel are responsible for answering any complex questions that insureds have about p...

AINS 103 Actual Exam Questions and Correct Detailed Answers (Verified Answers) Graded A+ Which one of the following describes one of the coverages provided by a Workers Compensation and Employers Liability Insurance Policy (WC&EL)? Select one: A. Providing an alternative to major medical insurance as an employee benefit B. Payment of benefits as required by a state's workers compensation law C. Voluntary benefits to an injured employee D. Payment for damages to a visitor hurt at the emplo...

AINS 102 (Latest 2023/ 2024 Update) Understanding Personal Insurance Exam Prep| Questions and Verified Answers| 100% Correct Q: General damages Answer: A monetary award to compensate a victim for losses, such as pain and suffering, that do not involve specific, measurable expenses. Q: HO-3 Special Form Answer: Coverage for owner-occupants, providing open perils coverage on buildings and specified perils coverage on personal property. Q: Hull insurance Answer: I...

AINS 101 Exam Prep; Questions and Answers 100% Solved As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point? A. Ciara needs her car to get to her job, and she needs her job to make car payments and pay for her car insurance. B. When her car's windshield breaks, Ciara has to pay...

AINS 103 Exam Questions With Verified Answers Which one of the following best describes real property? Select one: A. Property being shipped to or from others. B. Business personal property that includes furniture, machinery and equipment, and stock/inventory. C. Tangible property that includes land, structures permanently attached to the land, and whatever is growing on the land. D. Vehicles, merchandise, furniture, tools, and similar items. - ANS C. Tangible property that includes l...

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 ...

AINS 101 EXAM 2024 | QUESTION WITH 100 % CORRECT DETAILED ANSWERS | VERIFIED|A+ GRADE Which of the following is an example of a legal requirement for individuals that could be met through insurance? • Obtaining personal auto insurance The concepts of Risk, Transfer and Pooling form the basis of insurance. Transfers the risk to the insurer Typical Insurance Needs: Personal & Commercial policies if someone has a business and house or cars. Personal Insurance: • Property Insurance • Liab...

AINS 21 Practice Exam | 502 Complete Questions and Answers Verified by Expert | Update 2024 From an insured's point of view, relative to the concept of agency, little distinction exists between the Select one: A. Insurance agent and the insurance department. B. Broker and the claimant C. Insurer and the insurance department. D. Insurance agent and the insurer From an insured's point of view, relative to the concept of agency, little distinction exists between the insurance agent and t...