AINS 102 Course Quiz Questions and Answers All Correct
5 views 0 purchase
Course
AINS 102
Institution
AINS 102
AINS 102 Course Quiz Questions and Answers All Correct
Which one of the following best describes the HO-3 declarations?
A) The residence listed is the mailing address unless stated otherwise.
B) The declarations page shows the amount of the deductible, the loss portion that the insurer pa...
AINS 102 Course Quiz Questions
and Answers All Correct
Which one of the following best describes the HO-3 declarations?
A) The residence listed is the mailing address unless stated otherwise.
B) The declarations page shows the amount of the deductible, the loss portion that the
insurer pays.
C) The declarations page show amount of the premium, the loss portion that the insurer
pays.
D) The page shows when the policy is in effect, usually for multiple years for
homeowners. - Answer ✔ A
Which one of the following best describes a personal liability claim?
A) Defense costs are included in the liability limit.
B) Liability coverage in an HO-3 policy is only applicable if a lawsuit is filed.
C) One of the policy conditions is to forward legal documents promptly to the insurer.
D) Liability claims are generally less complex than property claims. - Answer ✔ C
Gracie and Martin Shaw have an HO-3 policy with AA Insurance (AAI) and were
recently served with a lawsuit. It alleges property damage to their next door neighbor's
property after a windstorm took down the Shaw's tree which in turn damaged the
neighbor's garage. Concerning this situation, which one of the following is true?
A) AAI will defend the Shaws until the limit for the occurrence is exhausted through
settlement or judgment.
B) The claim will not be covered by AAI as the loss must be caused by the insureds'
personal activities instead of damage to property.
C) The Shaws can consult Section I of their HO-3 policy for their duties concerning this
loss.
D) AAI will defend the Shaws if the lawsuit proves to be an accurate representation of
what really happened. - Answer ✔ A
The medical payments coverage in a homeowners policy covers certain medical
expenses incurred by
A) Nonresidents of the insured's household.
B) Regular household residents other than residence employees.
C) A person uninvited to the insured's home.
, D) Insureds. - Answer ✔ A
Which one of the following best describes Coverage F Conditions for Medical Payments
to Others coverage?
A) The second condition, Payment of Claim, states that any payment of the claim is not
an admission of liability.
B) The second condition, Payment of Claim, states than payment to the injured person
must be made within two weeks of the injury.
C) The first condition, Duties of an Injured Person, includes a mandatory requirement
for the injured person to submit to a physical examination.
D) The first condition, Duties of an Injured Person, requires that the injured person
make the claim within twenty-four hours after the injury occurs. - Answer ✔ A
The Jordans own a small ranch, and keep several ponies on the property for their
personal use. Mr. and Mrs. Jordan are concerned that their children's friends and
visiting relatives could be injured when riding the family's ponies. What coverage would
the unendorsed DP-3 policy provide for this loss exposure?
A) No coverage
B) Full coverage, up to the policy limits
C) Medical expenses only, up to $2,000
D) 20% of the Coverage A limit - Answer ✔ A
Marcus is buying insurance for his recent home purchase that will be covered by a DP-3
policy. In reading his policy, which one of the following will Marcus find is true?
A) Marcus needs to add an endorsement to the DP-3 to cover personal property
damage.
B) The DP-3 provides named perils coverage for the dwelling and personal property.
C) Marcus wants to add a theft endorsement to his DP-3 to cover personal property
damage caused by burglars.
D) The DP-3 excludes coverage for theft of property that isn't part of the covered
structure. - Answer ✔ D
The "Write Your Own" (WYO) flood insurance program allows
A) Insureds to carry flood coverage regardless of the property's location.
B) Insureds to tailor flood coverage to their own specific needs.
C) Insureds to purchase flood coverage without an agent or representative.
D) Participating Insurers write flood insurance using National Flood Insurance Program
guidelines. - Answer ✔ D
A serious factor underlying the accelerating need for mitigation of flood losses is
A) Lack of federal government intervention.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
