AINS 91 Practice Exam Review Questions
The ultimate goal of the claims function is to secure the profit goal of
the.... - Correct Answer ✔️✔️insurer
In liability claims, the claimant is referred to as the... - Correct
Answer ✔️✔️third party
Field Claim Representative - Correct Answer ✔️✔️Investigates
the scene of the loss, meets with the insured, claimants and others,
and inspects the damage
Traditionally, the risk management professional's role has been
associated with loss exposures related to - Correct Answer ✔️✔
️pure risk
In managing loss exposures using the risk management process, the
key to identifying loss exposures is - Correct Answer ✔️✔
️Understanding how the household or organization operates.
,Estimating how large the losses may be and how often they may occur
is required under which one of the steps of the risk management
process? - Correct Answer ✔️✔️Analyzing loss exposures
When implementing selected risk management techniques, a risk
manager must - Correct Answer ✔️✔️Determine how to
allocate the costs of the program.
Financial statement analysis, loss history analysis, and flowcharts are
used in - Correct Answer ✔️✔️Identifying loss exposures.
In the event of a serious auto accident, what type of law would
determine who was at fault? - Correct Answer ✔️✔️Common
Law
When a wrongdoer commits an illegal act, the wrongdoer is subject to
both civil law and criminal law in - Correct Answer ✔️✔️some
cases
, In insurance terminology, trucks, trailers, buses, fire engines, and
ambulances designed for road use are examples of which one of the
following categories of motor vehicles? - Correct Answer ✔️✔
️Autos
Contract Law is a branch of - Correct Answer ✔️✔️Civil Law
Tort Law is based on mainly on - Correct Answer ✔️✔
️Common Law
Special form coverage - Correct Answer ✔️✔️is the broadest
form of coverage
Which category of loss expenses can an insurer use to compare its
revenue and expenses? - Correct Answer ✔️✔️Incurred Losses
CGL policies exclude... - Correct Answer ✔️✔️aircraft liability
coverage
Which one of the following best describes how effective risk
management benefits insurers? - Correct Answer ✔️✔
The ultimate goal of the claims function is to secure the profit goal of
the.... - Correct Answer ✔️✔️insurer
In liability claims, the claimant is referred to as the... - Correct
Answer ✔️✔️third party
Field Claim Representative - Correct Answer ✔️✔️Investigates
the scene of the loss, meets with the insured, claimants and others,
and inspects the damage
Traditionally, the risk management professional's role has been
associated with loss exposures related to - Correct Answer ✔️✔
️pure risk
In managing loss exposures using the risk management process, the
key to identifying loss exposures is - Correct Answer ✔️✔
️Understanding how the household or organization operates.
,Estimating how large the losses may be and how often they may occur
is required under which one of the steps of the risk management
process? - Correct Answer ✔️✔️Analyzing loss exposures
When implementing selected risk management techniques, a risk
manager must - Correct Answer ✔️✔️Determine how to
allocate the costs of the program.
Financial statement analysis, loss history analysis, and flowcharts are
used in - Correct Answer ✔️✔️Identifying loss exposures.
In the event of a serious auto accident, what type of law would
determine who was at fault? - Correct Answer ✔️✔️Common
Law
When a wrongdoer commits an illegal act, the wrongdoer is subject to
both civil law and criminal law in - Correct Answer ✔️✔️some
cases
, In insurance terminology, trucks, trailers, buses, fire engines, and
ambulances designed for road use are examples of which one of the
following categories of motor vehicles? - Correct Answer ✔️✔
️Autos
Contract Law is a branch of - Correct Answer ✔️✔️Civil Law
Tort Law is based on mainly on - Correct Answer ✔️✔
️Common Law
Special form coverage - Correct Answer ✔️✔️is the broadest
form of coverage
Which category of loss expenses can an insurer use to compare its
revenue and expenses? - Correct Answer ✔️✔️Incurred Losses
CGL policies exclude... - Correct Answer ✔️✔️aircraft liability
coverage
Which one of the following best describes how effective risk
management benefits insurers? - Correct Answer ✔️✔
