Ains 21 exam Study guides, Class notes & Summaries

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A firm of computer systems consultants would most likely purchase this type of coverage to protect them in the even that they provide incorrect advice that causes financial injury to a customer? - professional liability insurance - covers professionals for errors or omissions arising out of their professional practices Affordable - the insurance company is able to charge a feasible premium - one that the insured can afford to pay. Insurance companies seek to cover only loss exposures that a...

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What is insurance? Correct Answer It's a transfer system, business, and contract. What is a transfer system in insurance? Correct Answer One party (the insured), transfers the risk of financial loss to another party (the insurer). [Essentially, I'm giving the risk of financial loss to someone else so that I can keep my financial standing.] What are covered losses? Correct Answer These are costs that insurers pay for and are in the contract that both parties agree to in the beginning (win...

AINS 21 practice exam 347 Questions and Answers.

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