Ains 101 Exam Questions and Answers – Updated 2024
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Course
2024/2025
Institution
2024/2025
Ains 101 Exam Questions and Answers –
Updated 2024
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 illust...
ABC company experienced a dramatic ideological shift in corporate policies after a national
election. This is an example of which one of the following quadrants of risk - Answer✔✔-
strategic risk
One of the reasons for insurance regulation is to prevent destructive competition. In which one
of the following scenarios would destructive competition be exhibited? - Answer✔✔-East
Insurance comes up with a new rate structure allowing "preferred customers" discounted
policies when they continually renew year after year; East eventually loses needed revenue but
is rewarded by its competitors leaving the market.
Renegade Insurance prides itself on its upstanding reputation through its commitment to small
communities' homeowners coverage needs over the past twenty years. Which one of
Renegade's actions over this time would best illustrate its continued commitment to
maintaining its solvency? - Answer✔✔-Renegade keeps enough cash assets on hand to cover
claims on policies long after it collected the premiums from customers
What term refers to the ability of an insurer to meet its obligations as they become due -
Answer✔✔-Solvency
All of the following are categories of liabilities found on an insurers balance sheet except -
Answer✔✔-Policy holders surplus
An insurer's income statement can best be described as a financial statement that shows the -
Answer✔✔-Relationship between revenues, expenses, and net income.
Which of the following is part of written premiums - Answer✔✔-Unearned premiums
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