Docsity
Log inSign up
Docsity
Prepare for your exams
Prepare for your exams

Study with the several resources on Docsity

Earn points to download
Earn points to download

Earn points by helping other students or get them with a premium plan

Guidelines and tips
Guidelines and tips
Sell on Docsity
Sell on Docsity
Log inSign up

Prepare for your exams

Study with the several resources on Docsity

Find documents

Prepare for your exams with the study notes shared by other students like you on Docsity

Search Store documents

The best documents sold by students who completed their studies

Search through all study resources
Docsity AINEW

Summarize your documents, ask them questions, convert them into quizzes and concept maps

Explore questions

Clear up your doubts by reading the answers to questions asked by your fellow students

Earn points to download

Earn points by helping other students or get them with a premium plan

Share documents
download point icon20 Points

For each uploaded document

Answer questions
download point icon5 Points

For each given answer (max 1 per day)

All the ways to get free points
Get points immediately

Choose a premium plan with all the points you need

Study Opportunities

Choose your next study program

Get in touch with the best universities in the world. Search through thousands of universities and official partners

Community

Ask the community

Ask the community for help and clear up your study doubts

University Rankings

Discover the best universities in your country according to Docsity users

Free resources

Our save-the-student-ebooks!

Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors

From our blog

Exams and Study
Go to the blog

AINS 101 Exam Review – Correct Answers Included | 100% Accuracy for 2025/2026, Exams of Nursing

Hillsborough Community CollegeNursing

AINS 101 Exam Review – Correct Answers Included | 100% Accuracy for 2025/2026 This document offers a complete exam review for AINS 101 (Associate in General Insurance), featuring accurately answered questions updated for the 2025/2026 testing period. It covers fundamental insurance concepts including risk management, insurance policy structure, underwriting, and claims processes. An ideal resource for candidates seeking a reliable and comprehensive review ahead of their AINS 101 certification exam.

Typology: Exams

2024/2025

Available from 06/11/2025

Nurseexcel
Nurseexcel 🇺🇸

832 documents

1 / 7

Toggle sidebar

This page cannot be seen from the preview

Don't miss anything!

bg1
1
g
/
g
7
AINS 101 Exam Review with Correct Answers 100%
1. Actualgcashgvalueg(ACV):gThegcostgtogreplacegpropertygwithgnewgpropertygofglikegkindgandgqu
alityglessgdepreciation.
2. Adversegselection:gInsuringgindividualsgwithgaghighgprobabilitygofglossgatgagcostglowergthang
theginsurergwouldgnormallygchargegforgthatgriskgbecausegitgwasn'tgawaregofgthegactualgriskginvo
lved.
3. Binder:gAgtemporarygwrittengorgoralgagreementgtogprovideginsurancegcoverageguntilgagformalgw
rittengpolicygisgissued.
4. Bookgofgbusiness:gAggroupgofgpoliciesgwithgagcommongcharacteristic,gsuchgasgterritorygorgty
pegofgcoverage,gorgallgpoliciesgwrittengbygagparticularginsurergorgagency.
5. Broker:gAngindependentgproducergwhogrepresentsginsurancegcustomers.
6. Brokerage:gCompensationgingthegformgofgagflatgfeegorgagcommissiongthatgisgpaidgbygthegrein
surergtogthegreinsurancegintermediarygforgservicesgprovided.
7. Capacity:gThegamountgofgbusinessganginsurergisgablegtogwrite,gusuallygbasedgongagcompariso
ngofgtheginsurer'sgwrittengpremiumsgtogitsgpolicyholders'gsurplus
8. Catastrophegmodel:gAgtypegofgcomputergprogramgthatgestimatesglossesgfromgfuturegpot
entialgcatastrophicgevents.
9. Certificategofginsurance:gAgbriefgdescriptiongofginsurancegcoveragegpreparedgbyganginsurerg
orgitsgagentgandgcommonlygusedgbygpolicyholdersgtogprovidegevidencegofginsurance.
10. Claim:gAgdemandgbygagpersongorgbusinessgseekinggtogrecovergfromganginsurergforgaglossgt
hatgmaygbegcoveredgbyganginsurancegpolicy.
11. Claimant:gAgpartygthatgmakesgagclaimgandgthatgcangbegeithergagfirst-partygclaimantgorgagthird-
partygclaimant.
12. Claimsgrepresentative:gAgpersongresponsiblegforginvestigating,gevaluating,gandgsettlinggcl
aims.
13. Compensatorygdamages:gAgpaymentgawardedgbygagcourtgtogreimbursegagvictimgforgactualgh
arm.
14. Condition:gAnygprovisionginganginsurancegpolicygthatgqualifiesgangotherwisegenforcea
blegpromisegofgtheginsurer.
pf3
pf4
pf5

Partial preview of the text

Download AINS 101 Exam Review – Correct Answers Included | 100% Accuracy for 2025/2026 and more Exams Nursing in PDF only on Docsity!

AINS 101 Exam Review with Correct Answers 100%

  1. Actualgcashgvalueg(ACV):g Thegcostgtogreplacegpropertygwithgnewgpropertygofglikegkindgandgqu alityglessgdepreciation.
  2. Adversegselection:g Insuringgindividualsgwithgaghighgprobabilitygofglossgatgagcostglowergthang theginsurergwouldgnormallygchargegforgthatgriskgbecausegitgwasn'tgawaregofgthegactualgriskginvo lved.
  3. Binder:g Agtemporarygwrittengorgoralgagreementgtogprovideginsurancegcoverageguntilgagformalgw rittengpolicygisgissued.
  4. Bookgofgbusiness:g Aggroupgofgpoliciesgwithgagcommongcharacteristic,gsuchgasgterritorygorgty pegofgcoverage,gorgallgpoliciesgwrittengbygagparticularginsurergorgagency.
  5. Broker:g Angindependentgproducergwhogrepresentsginsurancegcustomers.
  6. Brokerage:g Compensationgingthegformgofgagflatgfeegorgagcommissiongthatgisgpaidgbygthegrein surergtogthegreinsurancegintermediarygforgservicesgprovided.
  7. Capacity:g Thegamountgofgbusinessganginsurergisgablegtogwrite,gusuallygbasedgongagcompariso ngofgtheginsurer'sgwrittengpremiumsgtogitsgpolicyholders'gsurplus
  8. Catastrophegmodel:g Agtypegofgcomputergprogramgthatgestimatesglossesgfromgfuturegpot entialgcatastrophicgevents.
  9. Certificategofginsurance:g Agbriefgdescriptiongofginsurancegcoveragegpreparedgbyganginsurerg orgitsgagentgandgcommonlygusedgbygpolicyholdersgtogprovidegevidencegofginsurance.
  10. Claim:g Agdemandgbygagpersongorgbusinessgseekinggtogrecovergfromganginsurergforgaglossgt hatgmaygbegcoveredgbyganginsurancegpolicy.
  11. Claimant:g Agpartygthatgmakesgagclaimgandgthatgcangbegeithergagfirst-partygclaimantgorgagthird- partygclaimant.
  12. Claimsgrepresentative:g Agpersongresponsiblegforginvestigating,gevaluating,gandgsettlinggcl aims.
  13. Compensatorygdamages:g Agpaymentgawardedgbygagcourtgtogreimbursegagvictimgforgactualgh arm.
  14. Condition:g Anygprovisionginganginsurancegpolicygthatgqualifiesgangotherwisegenforcea blegpromisegofgtheginsurer.
  1. Conditionalgcontract:g Agcontractgthatgonegorgmoregpartiesgmustgperformgonlygundergcer taingconditions.
  2. Contractgofgadhesion:g Anygcontractgingwhichgonegpartygmustgeithergacceptgthegagreemen tgasgwrittengbygthegothergpartygorgrejectgit.
  3. Contractgofgindemnity:g Agcontractgingwhichgtheginsurergagrees,gingthegeventgofgagcoveredgl oss,gtogpaygangamountgdirectlygrelatedgtogthegamountgofgthegloss.
  4. Damages:g Moneygclaimedgby,gorgagmonetarygawardgto,gagpartygwhoghasgsufferedglossgorginjur ygforgwhichganothergpartygisglegallygresponsible
  5. Declarationsgpage:g Anginsurancegpolicyginformationgpagegorgpagesgprovidinggspecificgd etailsgaboutgtheginsuredgandgthegsubjectgofgtheginsurance
  1. Predictivegmodeling:g Agprocessgingwhichghistoricalgdatagbasedgongbehaviorsgandgevent sgisgblendedgwithgmultiplegvariablesgandgusedgtogconstructgmodelsgofganticipatedgfuturegout comes.
  2. Premium:g Thegpricegofgtheginsurancegcoveragegprovidedgforgagspecifiedgperiod.
  3. Principlegofgindemnity:g Thegprinciplegthatginsurancegpoliciesgshouldgprovidegagbenefitgno ggreatergthangtheglossgsufferedgbyganginsured.
  4. Producer:g Anygofgseveralgkindsgofginsurancegpersonnelgwhogplaceginsurancegandgsuretygbusi nessgwithginsurersgandgwhogrepresentgeitherginsurersgorginsureds,gorgboth.
  1. Property- casualtyginsurance:g Onegofgthegtwogmaingsectorsgofgtheginsurancegindustry,gencompassinggn umerousgtypesgofginsurance,gmostgofgwhichgcovergthegfinancialgconsequencesgofgdamagegtog one'sgowngpropertygorglegalgliabilitygtogothers
  2. Punitivegdamages:g Agpaymentgawardedgbygagcourtgtogpunishgagdefendantgforgagreckless,gm alicious,gorgdeceitfulgactgtogdetergsimilargconduct;gthegawardgneedgnotgbearganygrelationgtogagpart y'sgactualgdamages.
  3. Puregrisk:g Agchancegofglossgorgnogloss,gbutgnogchancegofggain.
  4. Rate:g Thegpricegpergexposuregunitgforginsurancegcoverage
  5. Rategmanual:g Agresourcegforgclassifyinggaccountsgandgdevelopinggpremiumsgforggivengtype sgofginsurance;gincludesgnecessarygrules,gfactors,gandgguidelinesgtogapplygthosegrates.
  6. Reinsurance:g Thegtransfergofginsurancegriskgfromgoneginsurergtoganothergthroughgagcontract ualgagreementgundergwhichgoneginsurerg(thegreinsurer)gagrees,gingreturngforgagreinsurancegpre mium,gtogindemnifyganotherginsurerg(thegprimaryginsurer)gforgsomegorgallgofgthegfinancialgconse quencesgofgcertainglossgexposuresgcoveredgbygthegprimary'sginsurancegpolicies.
  7. Riskgmanagement:g Thegprocessgofgmakinggandgimplementinggdecisionsgthatgwillgminimizegt hegadversegeffectsgofgaccidentalglossesgongangorganization.
  8. Salvagegrights:g Theginsurer'sgrightsgtogrecovergandgsellgorgotherwisegdisposegofginsuredgpro pertygongwhichgtheginsurerghasgpaidgagtotalglossgorgagconstructivegtotalgloss.
  9. Specialgdamages:g Agformgofgcompensatorygdamagesgthatgawardsgagsumgofgmoneygforgsp ecific,gidentifiablegexpensesgassociatedgwithgtheginjuredgperson'sgloss,gsuchgasgmedicalgexpe nsesgorglostgwages.
  10. Speculativegrisk:g Agchancegofgloss,gnogloss,gorggain.
  11. Stockginsurer:g Anginsurergthatgisgownedgbygitsgstockholdersgandgformedgasgagcorporatio ngforgthegpurposegofgearninggagprofitgforgthegstockholders.
  12. Subrogation:g Thegprocessgbygwhichganginsurergcan,gaftergitghasgpaidgaglossgundergthegpolicy,gr ecovergthegamountgpaidgfromganygpartyg(othergthangtheginsured)gwhogcausedgtheglossgorgisgoth erwiseglegallygliablegforgthegloss.
  13. Surplusglinesginsurer:g Agnonadmittedginsurergthatgisgeligiblegtoginsuregrisksgthatghavegbeeng exportedgbygagsurplusglinesglicenseegingaccordancegwithgagsurplusglinesglaw.
  14. Telematics:g Thegusegofgtechnologicalgdevicesgtogtransmitgdatagviagwirelessgcommuni
  1. Underwritinggguidelinesg(underwritinggguide):g Agwrittengmanualgthatgcom- gmunicatesganginsurer'sgunderwritinggpolicygandgthatgspecifiesgthegattributesgofgangaccountg thatganginsurergisgwillinggtoginsure.
  2. Utmostggoodgfaith:g Angobligationgtogactgingcompleteghonestygandgtogdisclosegallgrelevantgfa cts.