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AINS 101 | 112 Question with 100 % correct answers | Verified
- Exam (elaborations) • 13 pages • 2023
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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 - 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 - Contract of adhesion 
Which one of the following best explains why producers should be a...
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AINS 101 Exam Questions and Answers 2024
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AINS 101 Exam Questions and Answers 2024 
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 - ANS ️️ 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 - ANS ️️ Contract of adhesion 
Wh...
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AINS 101 EXAM WITH 110+ QUESTIONS AND CORRECT ANSWERS 2024 UPDATE GRADED A+ ACTUAL EXAM
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AINS 101 EXAM WITH 110+ QUESTIONS AND 
CORRECT ANSWERS 2024 UPDATE GRADED A+ 
ACTUAL EXAM
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AINS 101 Questions with 100 % verified correct answers
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AINS 101 Questions with 100 % verified correct answers 
 
1.	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:ANS: Direct writer marketing system 
2.	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:ANS: Contract of adhesio...
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AINS 101 Questions and Answers Rated A+
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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 choic...
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AINS 101 Latest Update with Certified Solutions
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Actual cash value (ACV) The cost to replace property with new property of like kind and 
quality less depreciation. 
Adverse selection Insuring individuals with a high probability of loss at a cost lower than the 
insurer would normally charge for that risk because it wasn't aware of the actual risk involved. 
Binder A temporary written or oral agreement to provide insurance coverage until a formal 
written policy is issued. 
Book of business A group of policies with a common characteristic, su...
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AINS 101 Exam Prep with Complete and Certified Solutions
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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? 
A. Ciara needs her car to get to her job, and she needs her job to make car payments and pay for 
her car insurance. 
B. When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing it. 
C. When her ca...
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AINS 101 Exam Prep Questions and Answers 100% Pass
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Loss exposure any condition or situation that presents a possibility of loss, whether or not an 
actual loss occurs 
Premium the price of the insurance coverage provided for a specified period 
Indemnify to restore a party who has sustained a loss to the same financial position that party 
held before the loss occurred 
Insured any person or organization who is insured under an insurance policy
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AINS 101 Exam Chapter 1 Why Do We Have Insurance? With 100% Correct And Verified Answers 2024
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AINS 101 Exam Chapter 1 Why Do We Have Insurance? With 100% Correct And Verified Answers 2024
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AINS 101 Exam Increasing Your Insurance IQ With 100% Correct And Verified Answers
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AINS 101 Exam Increasing Your Insurance IQ With 100% Correct And Verified Answers
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AINS 101 Exam 4. How Do Insurers Handle Claims With 100% Correct And Verified Answers
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AINS 101 Exam 4. How Do Insurers Handle Claims With 100% Correct And Verified Answers
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AINS 101 Exam Chapter 3 How Does Underwriting Work? With 100% Correct And Verified Answers 2024
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AINS 101 Exam Chapter 3 How Does Underwriting Work? With 100% Correct And Verified Answers 2024
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