Ains 21 Study guides, Class notes & Summaries

AINS 21 Segment B (Chapters 4-6) Questions and Answers 100% Correct

AINS 21 A Practice Exam | 114 Actual Questions and Answers 100% Correct | Updated 2024

What is insurance? - Answer-It's a transfer system, business, and contract. What is a transfer system in insurance? - 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? - Answer-These are costs that insurers pay for and are in the contract that both parties agree to in the beginning (wind damage, car accid...

when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics Which of the following statements is correct regarding characteristics of ideally insurable loss exposures - ideally, loss exposures should be spread across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury is ...

AINS 21 Chapter 1 Latest Update Graded A+ 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? Select one: A. When her car's transmission goes out a month after the warranty expires, Ciara is faced with a $1,100 repair bill. B. Ciara needs her car to get to her job, an...

when selecting a distribution channel, which one of the following is important consideration with regard to customer needs and characteristics - Which of the following statements is correct regarding characteristics of ideally insurable loss exposures - ideally, loss exposures should be spread across a large number of similar exposure units within the same period The type of insurance that provides periodic income payments to an insured who is unable to work because of sickness or injury ...

AINS 21 - Segment A Questions and Answers Graded A+ From a risk management viewpoint, insurance is used to A. Prevent the cost of losses B. Reduce the cost of losses C. Transfer the cost of losses D. Isolate the cost of losses. C. Transfer the cost of losses. A loss exposure is: A. Any condition that presents the possibility of a loss. B. Any condition that precludes the chance of loss. C. The same thing as a peril. D. The same thing as a hazard. A. Any condition that present t...

AINS 21 - Segment A | 137 Questions with 100 % correct answers | Verified& Updated 2024 | Already Passed From a risk management viewpoint, insurance is used to A. Prevent the cost of losses B. Reduce the cost of losses C. Transfer the cost of losses D. Isolate the cost of losses. - C. Transfer the cost of losses. A loss exposure is: A. Any condition that presents the possibility of a loss. B. Any condition that precludes the chance of loss. C. The same thing as a peril. D. The same thin...

AINS 21 - Segment A | 137 Questions with 100 % correct answers | Verified& Updated 2024 | Already Passed From a risk management viewpoint, insurance is used to A. Prevent the cost of losses B. Reduce the cost of losses C. Transfer the cost of losses D. Isolate the cost of losses. - C. Transfer the cost of losses. A loss exposure is: A. Any condition that presents the possibility of a loss. B. Any condition that precludes the chance of loss. C. The same thing as a peril. D. The same th...

AINS 21 Segment A | 124 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ 4 roles of insurance - 1. risk management technique 2. transfer system 3. business 4. contract loss exposure - any condition or situation that presents a possibility of loss, whether or not actual loss occurs risk management - making and implementing decisions that will minimize the adverse effects of accidental losses on an organization -avoid, prevent, reduce -from RM standpoint, insurance i...