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Revision Examination Tests
“Come all for this greatness”
...100% Correct Ans...
AINS 21 - Segment A REAL EXAM AND ANSWERS LATEST 2024-2025
Loss exposure
ans: Any condition or situation that presents a possibility of loss,
whether or not an actual loss occurs.
Risk management
ans: The process of making and implementing decisions that will
minimize the adverse effects of accidental losses on an organization.
Loss prevention
ans: A risk control technique that reduces the frequency of a particular
loss.
Loss reduction
ans: A risk control technique that reduces the severity of a particular
loss.
Exposure unit
ans:A fundamental measure of the loss exposure assumed by an
insurer.
Property-casualty insurance
ans:One of the two main sectors of the insurance industry,
encompassing numerous types of insurance, most of which cover the
financial consequences of damage to one's own property or legal liability
to others.
Life-health insurance
, ans:One of the two main sectors of the insurance industry,
encompassing numerous types of insurance that cover the financial
consequences of death, injury, or sickness.
Utmost good faith
ans:An obligation to act in complete honesty and to disclose all relevant
facts.
Contract of adhesion
ans:Any contract in which one party must either accept the agreement
as written by the other party or reject it.
Contract of indemnity
ans:A contract in which the insurer agrees, in the event of a covered
loss, to pay an amount directly related to the amount of the loss.
Self-contained policy
ans:A single document that contains all the agreements between the
insured and the insurer and that forms a complete insurance policy.
Modular policy
ans:An insurance policy that consists of several different documents,
none of which by itself forms a complete policy.
Property insurance
ans:Any type of insurance that indemnifies an insured who suffers a
financial loss because property has been lost, stolen, damaged, or
destroyed.
Liability insurance
ans:Insurance that covers losses resulting from the insured's liability to
others.
Homeowners policy
ans:Policy that covers most of the property and liability loss exposures
that arise out of residential property ownership and occupancy, as well
as property and liability loss exposures that individuals and families may
have while they are away from their residences.
Personal liability coverage
ans:Coverage for damages, plus costs of any defense, related to a claim
or suit brought against the insured that resulted from bodily injury or
property damage caused by an occurrence covered under the policy.
Revision Examination Tests
“Come all for this greatness”
...100% Correct Ans...
AINS 21 - Segment A REAL EXAM AND ANSWERS LATEST 2024-2025
Loss exposure
ans: Any condition or situation that presents a possibility of loss,
whether or not an actual loss occurs.
Risk management
ans: The process of making and implementing decisions that will
minimize the adverse effects of accidental losses on an organization.
Loss prevention
ans: A risk control technique that reduces the frequency of a particular
loss.
Loss reduction
ans: A risk control technique that reduces the severity of a particular
loss.
Exposure unit
ans:A fundamental measure of the loss exposure assumed by an
insurer.
Property-casualty insurance
ans:One of the two main sectors of the insurance industry,
encompassing numerous types of insurance, most of which cover the
financial consequences of damage to one's own property or legal liability
to others.
Life-health insurance
, ans:One of the two main sectors of the insurance industry,
encompassing numerous types of insurance that cover the financial
consequences of death, injury, or sickness.
Utmost good faith
ans:An obligation to act in complete honesty and to disclose all relevant
facts.
Contract of adhesion
ans:Any contract in which one party must either accept the agreement
as written by the other party or reject it.
Contract of indemnity
ans:A contract in which the insurer agrees, in the event of a covered
loss, to pay an amount directly related to the amount of the loss.
Self-contained policy
ans:A single document that contains all the agreements between the
insured and the insurer and that forms a complete insurance policy.
Modular policy
ans:An insurance policy that consists of several different documents,
none of which by itself forms a complete policy.
Property insurance
ans:Any type of insurance that indemnifies an insured who suffers a
financial loss because property has been lost, stolen, damaged, or
destroyed.
Liability insurance
ans:Insurance that covers losses resulting from the insured's liability to
others.
Homeowners policy
ans:Policy that covers most of the property and liability loss exposures
that arise out of residential property ownership and occupancy, as well
as property and liability loss exposures that individuals and families may
have while they are away from their residences.
Personal liability coverage
ans:Coverage for damages, plus costs of any defense, related to a claim
or suit brought against the insured that resulted from bodily injury or
property damage caused by an occurrence covered under the policy.
