AINS 101 EXAM 2025 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST RELEASE

AINS 101 EXAM 2025 QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS GRADED A++ LATEST RELEASE Terms in this set (78) The two main sectors of the insurance industry are Property-casualty insurance and life-health insurance. 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. Earned premiums are shown on an insurer's income statement because they are Revenues Destructive competition in the insurance industry could result in Insurance Shortages 3 multiple choice options Sean was driving and caused an injury to a pedestrian named Wilbur. In the context of the resulting claim made to Sean's insurance company and assigned to Andrea in the claims department, Sean and Wilbur and Andrea are, respectively Insured and claimant and claims representative Which one of these is most directly associated with a satisfied customer? Leads and referrals that can be used to generate new business 3 multiple choice options When conducting an advance audit, which of these tasks are performed to assist underwriting? Classify the various exposures 3 multiple choice options 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 Smart products used to perform repetitive tasks Robots 3 multiple choice options What is the correct order for these steps in the claims process? Calculating a loss reserve, preparing a loss statement, identifying the policy, determining the cause of loss Identifying the policy, calculating a loss reserve, determining the cause of loss, preparing a loss statement What is another name for a field underwriter? Line Underwriter Someone has the following duties: evaluate applicants that producers submit, present policy quotations, process policy endorsements, help explain coverages, make coverage recommendations. What is their role? Field/Line Underwriter In personal property-casualty insurance, which is more common: manuscript forms or pre-printed policies? Pre-printed policies Which statement is true? A policy begins with a coverage overview, then goes into more coverage details 3 multiple choice options