Ains 101 Study guides, Class notes & Summaries

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 should be a...

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 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 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...

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...

AINS 101 ACTUAL EXAM 2024 COMPLETE 250 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!

AINS 101 Exam Prep _ Prep For The AINS 101 Exam 2023 Q&A

AINS 101 (Latest 2023/ 2024 Update) Increasing Your Insurance IQ Exam Prep| Questions and Verified Answers| 100% Correct Q: Pure risk Answer: a chance of loss or no loss, but no chance of gain Q: Speculative risk Answer: a chance of loss, no loss, or gain Q: Solvency Answer: the ability of an insurer to meet its financial obligations as they become due, even those resulting from insured losses that may be claimed several years in the future Q: Income...

AINS 101 (New 2023/ 2024 Update) Increasing Your Insurance IQ Exam Prep_ Questions and Verified Answers_ 100% Correct QUESTION Agent Answer: in the agency relationship, the party that is authorized by the principal to act on the principal's behalf QUESTION Agency Answer: a legal, consensual relationship that exists when one party, the agent, acts on behalf of another party, the principal QUESTION Principal Answer: the party in an agency re...