Ains 101 actual exam - Study guides, Class notes & Summaries

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 |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS...

AINS 101 Exam; Questions and Answers 100% Solved Actual cash value (ACV) Correct answer The cost to replace property with new property of like kind and quality less depreciation. Adverse selection Correct 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 of the actual risk involved. Binder Correct answer A temporary written or oral agreement to provide insurance coverage until a f...

Actual cash value (ACV) - The cost to replace property with new property of like kind and quality less depreciation. Adverse selection - 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 of the actual risk involved. Binder - A temporary written or oral agreement to provide insurance coverage until a formal written policy is issued.

AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS ) ALREADY GRADED A+. AINS 101 EXAM |ACTUAL COMPLET...

AINS 101 simulated exam Latest Update Actual Exam with Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor

Loss exposure ️ any condition or situation that presents a possibility of loss, whether or not an actual loss occurs Premium ️ the price of the insurance coverage provided for a specified period Indemnify ️ to restore a party who has sustained a loss to the same financial position that party held before the loss occurred Insured ️ any person or organization who is insured under an insurance policy Property-casualty insurance ️ one of the two main sectors of the insurance indus...

AINS 101 EXAM QUESTIONS AND CORRECT ANSWERS (ALREADY GRADED A+) Which one of the following is part of written premiums? - Answer- Unearned premiums Which one of the following is shown on the balance sheet of an insurer? - Answer- Cash and short-term investments Most of the income an insurer receives is either from underwriting or - Answer- Investments - 2 major sources of insurer income are the sale of insurance (underwriting) and the investment of funds (investment income) Clare is a ...

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