Ains 101 qsas 2023 - Study guides, Class notes & Summaries
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AINS 101 Qs&As 2023
- Exam (elaborations) • 6 pages • 2023
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AINS 101 Qs&As 2023 Actual cash value (ACV) - ANS-The cost to replace property with new property of like kind and quality less depreciation. Adverse selection - ANS-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 - ANS-A temporary written or oral agreement to provide insurance coverage until a formal written policy is issued. Book of business - ANS-A gr...
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AINS 101 Qs&As 2023
- Exam (elaborations) • 6 pages • 2023
- $8.29
- + learn more
Actual cash value (ACV) - ANS-The cost to replace property with new property of like kind and quality less depreciation. Adverse selection - ANS-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 - ANS-A temporary written or oral agreement to provide insurance coverage until a formal written policy is issued. Book of business - ANS-A group of policies with ...
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