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

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; 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...

AINS 101 LATEST 2024 EXAM QUESTIONS AND ANSWERS ALL CORRECT (ALREADY GRADED A+) Which of the following statements is correct regarding the interaction between risk control and other insurer functions - Answer Risk control personnel can assist underwriters in modifying a new applicant's loss exposures to meet eligibility requirements. 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 ...

AINS 101 (Latest 2023/ 2024 Update) Increasing Your Insurance IQ Exam| Questions and Verified Answers| 100% Correct| Grade A Q: Rachel is a new employee of Westley Insurance, and has been asked to review some existing policies to become familiar with the types of policies she will be working with. Which one of the following will Rachel find is true as she conducts her review? Answer: Rachel finds the policy begins with a coverage overview and then goes into more coverage details. ...

Exclusive agency is contracted to sell insurance for one insurer or group of insurers ️ The difference between an independent agency and an exclusive agency is that an Insurance shortages ️ Destructive competition in the insurance industry could result in Veronica directly contacts Maria for guidance on how to report a stolen car, Maria provides that, and claims rep Sean takes over after an introduction from Maria ️ Maria is a new producer who wears many hats when forming relations...

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. Destructive c...

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. Book of business ️ A group of policies with a common c...

AINS 101 Simulated Exam Questions With Highlighted Answers Exclusive agency is contracted to sell insurance for one insurer or group of insurers - ANS-The difference between an independent agency and an exclusive agency is that an Insurance shortages - ANS-Destructive competition in the insurance industry could result in Veronica directly contacts Maria for guidance on how to report a stolen car, Maria provides that, and claims rep Sean takes over after an introduction from Maria - ANS-Ma...

AINS 101 EXAM 2024 | 50 QUESTION WITH 100 % CORRECT DETAILED ANSWERS | VERIFIED|A+ GRADE Question 1 Because insurance contracts impose an obligation for ethical practices and behaviors on the parties while dealing with one another, an insurance contract is called a Select one: A. Contract of utmost good faith. B. Conditional contract. C. Contract of adhesion. D. Contract of indemnity. Question 2 Sota’s Superstore has recently become an insured of Keithly Insurance Company. Kaito...

AINS 101 simulated exam with complete solutions Exclusive agency is contracted to sell insurance for one insurer or group of insurers - ANS ️️ The difference between an independent agency and an exclusive agency is that an Insurance shortages - ANS ️️ Destructive competition in the insurance industry could result in Veronica directly contacts Maria for guidance on how to report a stolen car, Maria provides that, and claims rep Sean takes over after an introduction from Maria - AN...