Ains 101 exam new - Study guides, Class notes & Summaries
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AINS 101 Exam Questions With 100% Correct Answers 2024
- Exam (elaborations) • 8 pages • 2024
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AINS 101 Exam Questions With 100% 
Correct Answers 2024 
The two main sectors of the insurance industry are 
Property-casualty insurance and life-health insurance. 
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. 
Earned premiums are shown on an insurer's income statement because they are 
Revenues 
Destructive competition in the insurance indust...
-
AINS 101 Exam Questions With 100% Correct Answers 2024
- Exam (elaborations) • 8 pages • 2024
-
- $11.49
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AINS 101 Exam Questions With 100% 
Correct Answers 2024 
The two main sectors of the insurance industry are 
Property-casualty insurance and life-health insurance. 
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. 
Earned premiums are shown on an insurer's income statement because they are 
Revenues 
Destructive competition in the insurance indust...
-
AINS 101 Exam Questions With 100% Correct Answers 2024
- Exam (elaborations) • 8 pages • 2024
- Available in package deal
-
- $11.49
- + learn more
AINS 101 Exam Questions With 100% 
Correct Answers 2024 
The two main sectors of the insurance industry are 
Property-casualty insurance and life-health insurance. 
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. 
Earned premiums are shown on an insurer's income statement because they are 
Revenues 
Destructive competition in the insurance indust...
-
AINS 101 Exam Questions with 100% Correct Answers | Verified
- Exam (elaborations) • 4 pages • 2024
- Available in package deal
-
- $10.49
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AINS 101 Exam Questions with 100% 
Correct Answers | Verified 
Actual cash value (ACV) - answerThe cost to replace property with new property of like 
kind and quality less depreciation. 
Adverse selection - answerInsuring 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 - answerA temporary written or oral agreement to provide insurance coverage until a 
formal written ...
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AINS 101 Actual Exam 100% Verified Correct Answers Latest Update 2024-2025 Guaranteed A+
- Exam (elaborations) • 24 pages • 2024
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AINS 101 Actual Exam 100% Verified Correct Answers Latest Update Guaranteed A+ 
 
1.	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 illustrates Mehmet's point CORRECT ANSWER 
a.	When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of 
replacing it CORRECT ANSWER 
 
2.	Shelton Indus...
Too much month left at the end of the money?
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AINS 101 Exam Questions with 100% Correct Answers | Verified
- Exam (elaborations) • 20 pages • 2024
- Available in package deal
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AINS 101 Exam Questions with 100% 
Correct Answers | Verified 
One of the reasons for insurance regulation is to prevent destructive competition. In which one of 
the following scenarios would destructive competition be exhibited? - answerEast 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. 
Ling has noticed ...
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AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024
- Exam (elaborations) • 6 pages • 2023
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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. De...
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AINS 101 Exam Questions & Answers | 100% Correct Answers | Verified | Latest 2024 Version
- Exam (elaborations) • 13 pages • 2024
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Available in package deal
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AINS 101 Exam Questions & Answers | 
100% Correct Answers | Verified | Latest 
 
2024 Version 
 
The two main sectors of the insurance industry are 
Property-casualty insurance and life-health insurance. 
 
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. 
 
Earned premiums are shown on an insurer's income statement because they are 
Revenues 
 
D...
-
AINS 101 Exam Questions With 100% Correct Answers
- Exam (elaborations) • 11 pages • 2024
- Available in package deal
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- $12.49
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AINS 101 Exam Questions With 100% 
Correct Answers 
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 - answerDirect 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 - answerContract of adhesion 
...
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AINS 101 Exam Question with 100 % correct answers | Verified
- Exam (elaborations) • 4 pages • 2024
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- $10.49
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AINS 101 Exam Question with 100 % correct 
answers | Verified 
Actual cash value (ACV) - answerThe cost to replace property with new property of like kind 
and quality less depreciation. 
Adverse selection - answerInsuring 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 - answerA temporary written or oral agreement to provide insurance coverage until 
a formal written ...
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