AINS 102 Exam Questions and Correct Answers New Update
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Course
AINS 102
Institution
AINS 102
AINS 102 Exam Questions and Correct Answers New Update
Rideshare Company Insurance (TNC) - Answer- 1) Most personal auto policies do exclude commercial
2) Two endorsements help to add coverage
3) Transportation Network Driver Coverage: provides coverage from the moment a driver logs in to a ...
AINS 102 Exam Questions and
Correct Answers 2024-2025 New
Update
Rideshare Company Insurance (TNC) - Answer- 1) Most personal auto policies do
exclude commercial
2) Two endorsements help to add coverage
3) Transportation Network Driver Coverage: provides coverage from the moment a
driver logs in to a TNC platform until a passenger gets into the car.
4) Limited Transportation Network Driver Coverage: provides coverage from the
moment a driver logs in to a TNC platform until a passenger's request for a ride is
accepted.
Telematics - Answer- 1) Tech in the vehicle that sends data to insurers which helps
them adjust for risk and affects premium
Home Sharing - Answer- 1) People who rent their house out usually do not have
coverage for their guests
2) Host Activities Amendatory Endorsement: Includes home sharing PD but injury is not
covered
3) Broadened Home Sharing Host Activities Endorsement: PD, personal property and
liability. (he Broadened Home-sharing Host Activities Coverage Endorsement would
cover Michaela's belongings if her room was damaged by fire and smoke)
4) Damage to property of others - increased limits: Increases limit of coverage for
property beyond base homeowners
Home- Based Ventures - Answer- 1) Homeowners does not usually insure structures
insured uses for business or legal fees from a competitor
Key Underwriting Considerations - Answer- 1) The Driver - skills, records, financial
2) Vehicle Type - Car quality, condition
3) Home loss history, condition, location, value, financial, risk control report
4) Insurers can get this info from the app or various financial sheets.
Other Than Collision deductible - Answer- Located on the schedule of coverages
section on the dec page
, Residual Market - Answer- Insurers and other organizations that make insurance
available to those who cannot obtain coverage from the standard market are called the
residual market.
Absolute Liability - Answer- A type of liability that occurs due to extremely dangerous
operations, such as the use of explosives or working at extreme heights. (Joe owns a
tiger)
no-fault automobile insurance - Answer- Most no-fault laws apply only to bodily injury
and not to property damage.
HO3 Policy Cov - Answer- Pool is drained by vandals. HO3 does not cover
If a claim is paid under Coverage F—Medical Payments to Others of a homeowners
policy, a policy condition makes it clear that - Answer- The payment is not an admission
of liability by the insured or the insurer.
Why add an umbrella policy? - Answer- To provide increased limits for large jury awards
Coverage A—Dwelling of an HO-3 policy applies to which one of the following - Answer-
Deck attached to the insured dwelling
Workers Comp vs PAP - Answer- Injuries that occur during the course of employment
are excluded from medical payments coverage if workers compensation benefits are
required or available.
Defense costs coverage is included under Section II—Liability Coverages in the HO-3
policy. This coverage - Answer- Is supplemental to the liability limit.
Small boat policies are designed to cover boats up to a certain size. Most of these
policies
Select one: - Answer- Are written on an actual cash value basis.
PAP state specific laws - Answer- Located in Agreements and Definitions
Which one of the following is an expense payable under the Part B—Medical Payments
Coverage of the Personal Auto Policy (PAP)? - Answer- . Funeral expenses
PAP Policy When car is totaled - Answer- Stephanie agrees to add the Auto
Loan/Lease Coverage endorsement to make sure the unpaid amount due on her car
loan will be covered in case of a total loss.
FAIR requirements - Answer- A property must be ineligible for coverage in the voluntary
market and located in designated coastal areas.
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