Ains 101 exam 1 Study guides, Class notes & Summaries

AINS 101 EXAM 100 QUESTIONS AND CORRECT VERIFIED ANSWERS AGRADE 2023

AINS 101 Simulated Exam Practice Questions and Answers 1: What does AINS stand for in the context of insurance education? - correct answer - AINS stands for Associate in General Insurance. 2: What is the primary purpose of insurance? - correct answer - The primary purpose of insurance is to transfer risk from an individual or entity to an insurance company. 3: What are the four elements of a legally binding insurance contract? - correct answer - The four elements are offer and acceptan...

AINS 101 EXAM : Ch 1-3

AINS 101 - Chapter 1 exam Questions with 100% Correct Answers | Verified | Updated 2024

AINS 101 EXAM 2024 | 50 QUESTION WITH 100 % CORRECT DETAILED ANSWERS | VERIFIED|A+ GRADE Question 1 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 Select one: A. Contract of utmost good faith. B. Conditional contract. C. Contract of adhesion. D. Contract of indemnity. Question 2 Sota’s Superstore has recently become an insured of Keithly Insurance Company. Kaito...

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. 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. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. Destructive c...

AINS 101 Exam Chapter 1 Why Do We Have Insurance? With 100% Correct And Verified Answers 2024

AINS 101 EXAM 2024 | 50 QUESTION WITH 100 % CORRECT DETAILED ANSWERS | VERIFIED|A+ GRADE Question 1 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 Select one: A. Contract of utmost good faith. B. Conditional contract. C. Contract of adhesion. D. Contract of indemnity. Question 2 Sota’s Superstore has recently become an insured of Keithly Insurance Company. Kaito...

AINS 101 EXAM / 80+ QUESTIONS AND VERIFIED ANSWERS 2023/2024 / GRADED A+. AINS 101 1. The two main sectors of the insurance industry are: Property-casualty insurance and life-health insurance. 2. 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. 3. Earned premiums are shown on an insurer's income statement because they are: Revenues 4. De...

AINS 101 Actual Exam 100% Verified Correct Answers Latest Update Guaranteed A+ 1. As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point CORRECT ANSWER a. When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing it CORRECT ANSWER 2. Shelton Indus...