STUDYSAGE
AINS 101 exam |complete study
guide with high yield questions
and 100% right/authentic
answers|newest 2025,get a pass
on your first trial
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 - CORRECT
ANSWERS✔️✔️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 -
CORRECT ANSWERS✔️✔️Contract of adhesion
Which one of the following best explains why producers should be alert to
changes in clients' loss exposures? - CORRECT ANSWERS✔️✔️Implemented risk
management techniques may prove to be ineffective or become obsolete
At Greenfield Insurance Company, Bernadette and Rachel are corporate
underwriters, and Tomas and Jose are field underwriters. All of the following are
underwriting activities typically performed by corporate (or staff) underwriters
like Bernadette and Rachel, EXCEPT: - CORRECT ANSWERS✔️✔️Support
producers and insureds
Joel is the underwriter for Stanton Industries. He received a notice from the
premium auditor on the account. After a recent visit to the insured's location, the
auditor wanted to make Joel aware of a decline in the business and some
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questionable business practices. Which one of the following types of hazards is
the auditor identifying? - CORRECT ANSWERS✔️✔️Moral hazards
Moral hazards - CORRECT ANSWERS✔️✔️include questionable business practices
or a failing business.
James West is a claims rep with Hatters Insurance. As he learns how to handle a
claim from start to finish, which one of the following best describes the correct
order for him to follow during this process? - CORRECT
ANSWERS✔️✔️Identifying the policy, calculating a loss reserve, determining the
cause of loss, preparing a loss statement
Margaret was severely injured and scarred due to a recent accident. Which one of
the following is an example of general damages Margaret received? - CORRECT
ANSWERS✔️✔️Compensation for disfigurement
Donna is an insurance producer. She makes an appointment with potential
policyholder Sandie to review her loss exposures. She asks Sandie to complete a
questionnaire to assist her in this effort. Donna is conducting a - CORRECT
ANSWERS✔️✔️Risk management review
Rachel is a new employee of Westley Insurance, and has been asked to review
some existing policies to become familiar with the types of policies she will be
working with. Which one of the following will Rachel find is true as she conducts
her review? - CORRECT ANSWERS✔️✔️Rachel finds the policy begins with a
coverage overview and then goes into more coverage details.
Sports, Inc. is looking to obtain a commercial property policy on its building for
$400,000. If their insurer decides to charge them a rate of $0.50 per $100 of
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building insurance, what premium must Sports, Inc. pay? - CORRECT
ANSWERS✔️✔️$2,000
Destructive competition in the insurance industry could result in - CORRECT
ANSWERS✔️✔️Insurance shortages
The financial report for Hometown Insurer contains the following information:
Earned premiums$4,000,000Written premiums$5,000,000Net investment
income$1,000,000Incurred losses$3,000,000Incurred underwriting
expenses$2,000,000
What is Hometown Insurer's loss ratio? - CORRECT ANSWERS✔️✔️75%
Loss Ratio - CORRECT ANSWERS✔️✔️incurred losses divided by its earned
premiums
Jessie is a new customer service representative (CSR) at the Winfield Agency.
Jessie usually engages in all the following activities, EXCEPT: - CORRECT
ANSWERS✔️✔️Determining coverage quotes
Riley Turner is performing a comprehensive evaluation of Hardwick Enterprises to
make sure its insurance and risk management efforts are serving the organization
appropriately. Which one of the following will be true in regard to this effort? -
CORRECT ANSWERS✔️✔️Besides risk management goals being attainable, they
should also pose a challenge.
Rachel is considering investing in the stock of an insurance company. Which one
of the following is likely to provide the best indication of the insurer's financial
position at this point in time? - CORRECT ANSWERS✔️✔️Balance sheet
SUCCESS
AINS 101 exam |complete study
guide with high yield questions
and 100% right/authentic
answers|newest 2025,get a pass
on your first trial
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 - CORRECT
ANSWERS✔️✔️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 -
CORRECT ANSWERS✔️✔️Contract of adhesion
Which one of the following best explains why producers should be alert to
changes in clients' loss exposures? - CORRECT ANSWERS✔️✔️Implemented risk
management techniques may prove to be ineffective or become obsolete
At Greenfield Insurance Company, Bernadette and Rachel are corporate
underwriters, and Tomas and Jose are field underwriters. All of the following are
underwriting activities typically performed by corporate (or staff) underwriters
like Bernadette and Rachel, EXCEPT: - CORRECT ANSWERS✔️✔️Support
producers and insureds
Joel is the underwriter for Stanton Industries. He received a notice from the
premium auditor on the account. After a recent visit to the insured's location, the
auditor wanted to make Joel aware of a decline in the business and some
SUCCESS
,STUDYSAGE
questionable business practices. Which one of the following types of hazards is
the auditor identifying? - CORRECT ANSWERS✔️✔️Moral hazards
Moral hazards - CORRECT ANSWERS✔️✔️include questionable business practices
or a failing business.
James West is a claims rep with Hatters Insurance. As he learns how to handle a
claim from start to finish, which one of the following best describes the correct
order for him to follow during this process? - CORRECT
ANSWERS✔️✔️Identifying the policy, calculating a loss reserve, determining the
cause of loss, preparing a loss statement
Margaret was severely injured and scarred due to a recent accident. Which one of
the following is an example of general damages Margaret received? - CORRECT
ANSWERS✔️✔️Compensation for disfigurement
Donna is an insurance producer. She makes an appointment with potential
policyholder Sandie to review her loss exposures. She asks Sandie to complete a
questionnaire to assist her in this effort. Donna is conducting a - CORRECT
ANSWERS✔️✔️Risk management review
Rachel is a new employee of Westley Insurance, and has been asked to review
some existing policies to become familiar with the types of policies she will be
working with. Which one of the following will Rachel find is true as she conducts
her review? - CORRECT ANSWERS✔️✔️Rachel finds the policy begins with a
coverage overview and then goes into more coverage details.
Sports, Inc. is looking to obtain a commercial property policy on its building for
$400,000. If their insurer decides to charge them a rate of $0.50 per $100 of
SUCCESS
, STUDYSAGE
building insurance, what premium must Sports, Inc. pay? - CORRECT
ANSWERS✔️✔️$2,000
Destructive competition in the insurance industry could result in - CORRECT
ANSWERS✔️✔️Insurance shortages
The financial report for Hometown Insurer contains the following information:
Earned premiums$4,000,000Written premiums$5,000,000Net investment
income$1,000,000Incurred losses$3,000,000Incurred underwriting
expenses$2,000,000
What is Hometown Insurer's loss ratio? - CORRECT ANSWERS✔️✔️75%
Loss Ratio - CORRECT ANSWERS✔️✔️incurred losses divided by its earned
premiums
Jessie is a new customer service representative (CSR) at the Winfield Agency.
Jessie usually engages in all the following activities, EXCEPT: - CORRECT
ANSWERS✔️✔️Determining coverage quotes
Riley Turner is performing a comprehensive evaluation of Hardwick Enterprises to
make sure its insurance and risk management efforts are serving the organization
appropriately. Which one of the following will be true in regard to this effort? -
CORRECT ANSWERS✔️✔️Besides risk management goals being attainable, they
should also pose a challenge.
Rachel is considering investing in the stock of an insurance company. Which one
of the following is likely to provide the best indication of the insurer's financial
position at this point in time? - CORRECT ANSWERS✔️✔️Balance sheet
SUCCESS
