AINS 102 STUDY GUIDE 2026 MASTER
SOLUTION DIGEST
◉Inland marine floater. Answer: Coverage for property limited or
excluded by homeowners policies, property with valuation
problems, high-value items, and property susceptible to loss by
other than the usual named perils.
◉Inland marine insurance. Answer: Insurance that covers many
different classes of property that typically involve an element of
transportation on land.
◉Intentional tort. Answer: A tort committed by a person who
foresees (or should be able to foresee) that his or her act will harm
another person.
◉Internet of Things (IoT). Answer: A network of objects that
transmit data to each other and to central hubs through the internet.
◉Liability. Answer: A legal responsibility for the consequences of an
act or omission.
, ◉Liability loss exposure. Answer: Any condition or situation that
presents the possibility of a claim alleging legal responsibility of a
person or business for injury or damage suffered by another party.
◉Loss history. Answer: A listing of past claims, including the date of
occurrence, the line of business, the type or description of the claim,
the date of the claim, the amount paid, the amount reserved, and the
claim's current status.
◉Named insured. Answer: A person, corporation, partnership, or
other entity identified as an insured party in an insurance policy's
declarations page.
◉Named peril. Answer: A specific cause of loss listed and described
in an insurance policy. Also used to describe policies containing
named perils.
◉Named perils coverage. Answer: An insurance policy in which the
covered causes of loss are listed or "named" in the policy.
◉Negligence. Answer: The failure to exercise the degree of care that
a reasonable person in a similar situation would exercise to avoid
harming others.
SOLUTION DIGEST
◉Inland marine floater. Answer: Coverage for property limited or
excluded by homeowners policies, property with valuation
problems, high-value items, and property susceptible to loss by
other than the usual named perils.
◉Inland marine insurance. Answer: Insurance that covers many
different classes of property that typically involve an element of
transportation on land.
◉Intentional tort. Answer: A tort committed by a person who
foresees (or should be able to foresee) that his or her act will harm
another person.
◉Internet of Things (IoT). Answer: A network of objects that
transmit data to each other and to central hubs through the internet.
◉Liability. Answer: A legal responsibility for the consequences of an
act or omission.
, ◉Liability loss exposure. Answer: Any condition or situation that
presents the possibility of a claim alleging legal responsibility of a
person or business for injury or damage suffered by another party.
◉Loss history. Answer: A listing of past claims, including the date of
occurrence, the line of business, the type or description of the claim,
the date of the claim, the amount paid, the amount reserved, and the
claim's current status.
◉Named insured. Answer: A person, corporation, partnership, or
other entity identified as an insured party in an insurance policy's
declarations page.
◉Named peril. Answer: A specific cause of loss listed and described
in an insurance policy. Also used to describe policies containing
named perils.
◉Named perils coverage. Answer: An insurance policy in which the
covered causes of loss are listed or "named" in the policy.
◉Negligence. Answer: The failure to exercise the degree of care that
a reasonable person in a similar situation would exercise to avoid
harming others.
