Insurance ains - Study guides, Class notes & Summaries

AINS 101 Exam Questions and Answers 2024 Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the - ANS ️️ Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a - ANS ️️ Contract of adhesion Wh...

AINS 103 (Latest 2023/ 2024 Update) Exploring Commercial Insurance Exam Review Questions and Verified Answers| 100% Correct| Grade A Q: Which one of the following is one of the covered causes of loss in the commercial property policy Causes of Loss—Basic form? Answer: Vandalism Q: Billy owns a baseball souvenir store in Cooperstown, NY. He insured his store under a Building and Personal Property Coverage Form (BPP) with a $275,000 limit and a $1,500 deductible. A large fire in ...

Which of the following represents uncertainty about outcomes that can be negative or positive? ️ Risk The primary role of insurance is to ️ Indemnify individuals and organizations for covered losses. The insurance agent suggested that Sally's Snack Shop buy a policy that combines property, crime, and liability coverage into one policy. This is referred to as as a(n) ️ Commercial package policy (CPP) Coverage for money and other business property from various causes of loss such as...

Bill is an insurance producer for and employed by ABC Insurance Company (ABC). He represents only ABC when marketing insurance products, and uses an administrative staff also employed by ABC. Bill is a producer in the ️ Direct writer marketing system Because the insurance company usually determines policy wording and the insured has little choice but to "take it or leave it," an insurance contract is a ️ Contract of adhesion Which one of the following best explains why producers sho...

AINS 101 Questions With 100% Accurate Review Solution Answers Which of the following is an example of a legal requirement for individuals that could be met through insurance? a. contributing to the growth of the organization b. paying for losses c. obtaining personal auto insurance d. providing a source of investment funds - ANS-c. obtaining personal auto insurance A fire destroys the kitchen in Rob and Laurie's home. Which insurance policy would provide coverage for the damage? a...

AINS 101 Question with Verified 100 % correct answers. The two main sectors of the insurance industry are:Answer: Propertycasualty insur- ance 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:Answer: Contract of utmost good faith. 3. Earned premiums are shown on an insurer's income statement because they are:Answer: Revenues 4. Destructive comp...

Which one of the following is considered real property? Select one: A. An automobile B. A house C. Furniture D. A motorhome ️ B The Davis family suffered extensive fire damage to its home and was temporarily unable to inhabit it. The family was forced to rent a hotel room while its home was under repair. The cost incurred to rent the hotel room is referred to as which one of the following outcomes of loss? Select one: A. Lost income B. Increased expenses C. Reduction in value of p...