AINS 101 simulated exam Latest Update -

AINS 101 simulated exam Latest Update - Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor

$10,000 - CORRECT ANSWER: A liability loss has the following damages:

Medical expenses: $10,000

Damages for disfigurement: $50,000

Damages for pain and suffering: $100,000

What is the amount of special damages?

$2,000 - CORRECT ANSWER: 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 building insurance, what premium must Sports, Inc. pay?

$350 Replacement cost - Depreciation - CORRECT ANSWER: John's two-year-old

bicycle was stolen. The bicycle's purchase price was $700, its current replacement cost is $800, and depreciation was estimated at $450. What was the bicycle's actual cash value?

75% - CORRECT ANSWER: The financial report for Hometown Insurer contains the

following information:

Earned premiums $4,000,000 Written premiums $5,000,000 Net investment income $1,000,000 Incurred losses $3,000,000 Incurred underwriting expenses $2,000,000 What is Hometown Insurer's loss ratio?

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Allian issues more preprinted policies than manuscript forms. - CORRECT ANSWER:

Allian Insurance Company is a growing regional insurer selling policies in three states, specializing in personal auto and homeowners policies. Which one of the following is most likely true regarding Allian and the policies it sells?

Apply to the part of the policy period that has already occurred - CORRECT ANSWER: Earned premiums are the portion of written premiums that

Balance sheet - CORRECT ANSWER: 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?

Besides risk management goals being attainable, they should also pose a challenge -

CORRECT ANSWER: 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?

Capacity - CORRECT ANSWER: Which one of the following is the amount of business

an insurer can write based on regulatory guidelines, usually a comparsion of the insurer's written premiums to the policyholders' surplus?

Classify the various exposures - CORRECT ANSWER: Sota's Superstore has recently

become an insured of Keithly Insurance Company. Kaito, Keithly's premium auditor, is being sent to conduct an advance audit. Which one of the following tasks will Kaito do to assist underwriting?

Compensation for disfigurement - CORRECT ANSWER: Margaret was severely injured

and scarred due to a recent accident. Which one of the following is an example of general damages Margaret received?

Contract of adhesion - CORRECT ANSWER: 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

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