1|Page
AINS 102 TEST QUESTIONS AND ANSWERS |
GRADED A+
John is a recent homeowner and is considering the
insurance coverages he needs for his home and
contents. If damaged
by a peril covered by a homeowners policy, which one
of the following would be considered part of John's real
property? Select one:
A. The boat in the driveway
B. The detached garage
C. The desk top computer
D. The hockey net and equipment - Correct answer-B.
The detached garage
Which one of the following is considered real property?
Select one:
A. An automobile
B. A house
C. Furniture
D. A motorhome - Correct answer-B. A house
All of the following could lead to a liability loss for a
family, EXCEPT:
Select one:
A. The father trips on a broom he left lying in the
driveway and breaks his arm.
B. The son, who is 13 years old, throws a rock at a
classmate who requires stitches for an injury to his
head.
,2|Page
C. A guest slips on an icy sidewalk in front of the
family's home and breaks his leg.
D. The daughter, who is 16 years old, sideswipes a
neighbor's car and dents its fender while driving her
own car.
- Correct
Answer-A. The father trips on a broom he left lying
in the
driveway and breaks his
arm.
Which one of the following is a form of compensatory
damages?
Select one:
A. Real damages
B. Special damages
C. Punitive damages
D. Exemplary damages - Correct answer-B. Special damages
Which one of the following is used by the majority of
states to
compensate auto accident
victims?
Select
one:
A. Personal injury protection coverage
B. Tort liability system
C. Uninsured motorist coverage
D. Unsatisfied judgment funds - Correct answer-B. Tort
liability
system
,Which one of the following statements is true regarding
automobile insurance rating?
, 3|Page
Select one:
A. State regulators require that all insurers offer
discounts on auto rates for passive restraints.
B. Most insurers base automobile rates on primary
rating factors and do not consider any other factors in
establishing rates.
C. State regulators require that rates be adequate,
reasonable, and not unfairly discriminatory.
D. Drivers with lower-than-average loss exposure are
charged higher rates. - Correct answer-C. State
regulators
require that rates be adequate, reasonable, and not
unfairly discriminatory.
All of the following are true of the HO-3 Special Form,
EXCEPT:
Select one:
A. The HO-3 is designed for owners who occupy
their dwelling or choose to rent it.
B. The HO-3 meets the property and liability
coverage needs of most families.
C. The HO-3 is typically used as a basis for
understanding other HO coverage forms.
D. The HO-3 can be modified for special needs
through available endorsements. - Correct answer-A.
The HO-3 is designed for owners who occupy their
dwelling or choose to rent it.
Estelle and Richie are very conservative and want to
purchase insurance to "cover everything" in order to
lessen the worries of home ownership. Which one of the
following ISO forms
AINS 102 TEST QUESTIONS AND ANSWERS |
GRADED A+
John is a recent homeowner and is considering the
insurance coverages he needs for his home and
contents. If damaged
by a peril covered by a homeowners policy, which one
of the following would be considered part of John's real
property? Select one:
A. The boat in the driveway
B. The detached garage
C. The desk top computer
D. The hockey net and equipment - Correct answer-B.
The detached garage
Which one of the following is considered real property?
Select one:
A. An automobile
B. A house
C. Furniture
D. A motorhome - Correct answer-B. A house
All of the following could lead to a liability loss for a
family, EXCEPT:
Select one:
A. The father trips on a broom he left lying in the
driveway and breaks his arm.
B. The son, who is 13 years old, throws a rock at a
classmate who requires stitches for an injury to his
head.
,2|Page
C. A guest slips on an icy sidewalk in front of the
family's home and breaks his leg.
D. The daughter, who is 16 years old, sideswipes a
neighbor's car and dents its fender while driving her
own car.
- Correct
Answer-A. The father trips on a broom he left lying
in the
driveway and breaks his
arm.
Which one of the following is a form of compensatory
damages?
Select one:
A. Real damages
B. Special damages
C. Punitive damages
D. Exemplary damages - Correct answer-B. Special damages
Which one of the following is used by the majority of
states to
compensate auto accident
victims?
Select
one:
A. Personal injury protection coverage
B. Tort liability system
C. Uninsured motorist coverage
D. Unsatisfied judgment funds - Correct answer-B. Tort
liability
system
,Which one of the following statements is true regarding
automobile insurance rating?
, 3|Page
Select one:
A. State regulators require that all insurers offer
discounts on auto rates for passive restraints.
B. Most insurers base automobile rates on primary
rating factors and do not consider any other factors in
establishing rates.
C. State regulators require that rates be adequate,
reasonable, and not unfairly discriminatory.
D. Drivers with lower-than-average loss exposure are
charged higher rates. - Correct answer-C. State
regulators
require that rates be adequate, reasonable, and not
unfairly discriminatory.
All of the following are true of the HO-3 Special Form,
EXCEPT:
Select one:
A. The HO-3 is designed for owners who occupy
their dwelling or choose to rent it.
B. The HO-3 meets the property and liability
coverage needs of most families.
C. The HO-3 is typically used as a basis for
understanding other HO coverage forms.
D. The HO-3 can be modified for special needs
through available endorsements. - Correct answer-A.
The HO-3 is designed for owners who occupy their
dwelling or choose to rent it.
Estelle and Richie are very conservative and want to
purchase insurance to "cover everything" in order to
lessen the worries of home ownership. Which one of the
following ISO forms
