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AINS 102 (Practice questions for AINS 102 exam) Latest Questions & Answers, 100% Correct!!

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Property loss exposure ️ A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (including destruction, taking, or loss of use) to property in which that person or organization has a financial interest. Real property (realty) ️ Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal property ️ All tangible or intangible property that is not real ...

Which one of the following is considered real property? Select one: A. An automobile B. A house C. Furniture D. A motorhome ️ B The Davis family suffered extensive fire damage to its home and was temporarily unable to inhabit it. The family was forced to rent a hotel room while its home was under repair. The cost incurred to rent the hotel room is referred to as which one of the following outcomes of loss? Select one: A. Lost income B. Increased expenses C. Reduction in value of p...

Patrick's car is 12 years-old and has been driven for over 100,000 miles. He has decided that instead of continuing to pay insurance premium for coverage for property damage to his car, he will put the money aside to save for a new car. Which one of the following risk management techniques is Patrick using? Select one: A. Diversification B. Retention C. Avoidance D. Loss reduction ️ B Which one of the following statements regarding assets exposed to loss is true? Select one: A. R...

Real property (realty) - Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. Personal Property - possessions such as jewelry, furniture, and boats Damage to building by vandalism - Put a fence around the building - Loss Prevention Home burglary - Install burglar alarm - Loss reduction Tort Damages - compensatory damages and punitive damages Negligence Tort - careless neglect, often resulting in injury ...

AINS 102 (New 2023/ 2024 Update) Understanding Personal Insurance Exam Practice _ Questions and Verified Answers_ 100% Correct_ Grade A QUESTION Coverage F—Medical Payments to Others in the homeowners policy applies to bodily injury to a residence employee in all of the following situations, EXCEPT: Select one: A. The residence employee is away from the insured location and is not working B. The residence employee is on the insured location but is not working C. The residence e...

AINS 102 (New 2023/ 2024 Update) Understanding Personal Insurance Exam Prep_ Questions and Verified Answers_ 100% Correct QUESTION Real property (realty) Answer: Tangible property consisting of land, all structures permanently attached to the land, and whatever is growing on the land. QUESTION Reinsurance Answer: The transfer of insurance risk from one insurer to another through a contractual agreement under which one insurer (the reinsurer) agrees, in return fo...

AINS 102 (Latest 2023/ 2024 Update) Understanding Personal Insurance Exam Prep| Questions and Verified Answers| 100% Correct Q: General damages Answer: A monetary award to compensate a victim for losses, such as pain and suffering, that do not involve specific, measurable expenses. Q: HO-3 Special Form Answer: Coverage for owner-occupants, providing open perils coverage on buildings and specified perils coverage on personal property. Q: Hull insurance Answer: I...