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AINS 101 - Course Quiz Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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AINS 101 - Course Quiz Questions and Answers 2024 / 2025 (Verified Answers by Expert)
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AINS 101 - Course Quiz.pdf file:///C:/Users/HP/Desktop/eewwww/AINS%20101%20-%20CourAINS 101 - Course Quiz
1. The primary role of insurance is to
ANS Indemnify individuals and organizations for covered losses.
2. 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 exam- ples best illustrates Mehmet's
point?
ANS When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing
it.
3. A homeowners policy is a type of
ANS Personal property-casualty insurance policy.
4. Coverage for money and other business property from various causes of loss such as
burglary, robbery, theft, and employee dishonesty typically is provided by
ANS Commercial crime insurance.
5. Which one of the following describes the characteristics of a mutual insur- ance
company?
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,AINS 101 - Course Quiz.pdf file:///C:/Users/HP/Desktop/eewwww/AINS%20101%20-%20Cour
ANS A corporation owned by policyholders that provides insurance to its policyholders.
6. An insurer that was formed for the purpose of earning a profit for its
stockholders is a
ANS Stock insurer
7. Autonomous Vehicle Applications (AVA) is a start-up company that devel- ops safety
technologies that can be sold to companies that are producing au- tonomous vehicles. One
technology AVA is developing allows an autonomous vehicle to detect, extract, and analyze
images; and then to respond to the images. For example, the technology would detect a
presence in a crosswalk, extract the image, and a computer would analyze the image.
When the image was determined to be a human being, the vehicle would slow down or
stop until the crosswalk was clear. This technology, which is designed to capture and
analyze images, and to act on the recognition of the image; is called
ANS - Computer vision
8. In an effort to reduce expenses, increase profitability, and reduce human
errors; ABC Insurance Company decided to automate most of its personal lines
underwriting function.The company now uses standardized application forms that are
submitted electronically to one of the company's regional offices. At each regional office, a
computer with a scanner reads the appli- cations.The computer has been programmed
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