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AINS 101 Final Exam – Questions and Answers | 100% Pass Guarantee for 2025/2026, Exams of Nursing

Hillsborough Community CollegeNursing

This document includes a complete set of final exam questions and 100% accurate answers for AINS 101 (Associate in General Insurance), updated for the 2025/2026 exam cycle. It covers all core areas such as principles of insurance, risk management, policy structure, underwriting, and claims handling. Designed to help candidates confidently pass the AINS 101 certification exam with proven, exam-focused material.

Typology: Exams

2024/2025

Available from 06/11/2025

Nurseexcel
Nurseexcel 🇺🇸

832 documents

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AINS 101 Final Exam Questions and Answers 100% Pass
1. Thettwotmaintsectorstoftthetinsurancetindustrytare:tProperty-casualtytinsur-tancetandtlife-
healthtinsurance.
2. Becausetinsurancetcontractstimposetantobligationtfortethicaltpracticestandtbehaviorstontt
hetpartiestwhiletdealingtwithtonetanother,tantinsurancetcontracttistcalledta:tContracttoftutmo
sttgoodtfaith.
3. Earnedtpremiumstaretshowntontantinsurer'stincometstatementtbecausettheytare:tRev
enues
4. Destructivetcompetitiontintthetinsurancetindustrytcouldtresulttin:tInsurancetShortages
5. SeantwastdrivingtandtcausedtantinjuryttotatpedestriantnamedtWilbur.tIntthetcontexttoft
thetresultingtclaimtmadettotSean'stinsurancetcompanytandtassignedttotAndreatintthetcla
imstdepartment,tSeantandtWilburtandtAndreatare,trespectively:tInsuredtandtclaimanttandt
claimstrepresentative
6. Whichtonetoftthesetistmosttdirectlytassociatedtwithtatsatisfiedtcustomer?-
:tLeadstandtreferralstthattcantbetusedttotgeneratetnewtbusiness
7. Whentconductingtantadvancetaudit,twhichtoftthesettaskstaretperformedttotassisttunderw
riting?:tClassifytthetvarioustexposures
8. Becausetthetinsurancetcompanytusuallytdeterminestpolicytwordingtandtthetinsuredthastlit
tletchoicetbutttot"taketittortleavetit,"tantinsurancetcontracttista:tContracttoftadhesion
9. Smarttproductstusedttotperformtrepetitivettasks:tRobots
10. Whattistthetcorrecttordertfortthesetstepstintthetclaimstprocess?tCalculatingtatlosstreserve,t
preparingtatlosststatement,tidentifyingtthetpolicy,tdeterminingtthetcausetoftloss:tIdentifyingtt
hetpolicy,tcalculatingtatlosstreserve,tdeterminingtthetcausetoftloss,tpreparingtatlosststatement
11. Whattistanothertnametfortatfieldtunderwriter?:tLinetUnderwriter
12. Someonethastthetfollowingtduties:tevaluatetapplicantstthattproducerstsubmit,tpresentt
policytquotations,tprocesstpolicytendorsements,thelptexplaintcoverages,tmaketcoveragetre
commendations.tWhattisttheirtrole?:tField/LinetUnderwriter
13. Intpersonaltproperty-casualtytinsurance,twhichtistmoretcommon:tmanu-
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AINS 101 Final Exam Questions and Answers 100% Pass

  1. Thettwotmaintsectorstoftthetinsurancetindustrytare:tProperty-casualtytinsur-tancetandtlife- healthtinsurance.
  2. Becausetinsurancetcontractstimposetantobligationtfortethicaltpracticestandtbehaviorstontt hetpartiestwhiletdealingtwithtonetanother,tantinsurancetcontracttistcalledta:tContracttoftutmo sttgoodtfaith.
  3. Earnedtpremiumstaretshowntontantinsurer'stincometstatementtbecausettheytare:tRev enues
  4. Destructivetcompetitiontintthetinsurancetindustrytcouldtresulttin:tInsurancetShortages
  5. SeantwastdrivingtandtcausedtantinjuryttotatpedestriantnamedtWilbur.tIntthetcontexttoft thetresultingtclaimtmadettotSean'stinsurancetcompanytandtassignedttotAndreatintthetcla imstdepartment,tSeantandtWilburtandtAndreatare,trespectively:tInsuredtandtclaimanttandt claimstrepresentative
  6. Whichtonetoftthesetistmosttdirectlytassociatedtwithtatsatisfiedtcustomer?- :tLeadstandtreferralstthattcantbetusedttotgeneratetnewtbusiness
  7. Whentconductingtantadvancetaudit,twhichtoftthesettaskstaretperformedttotassisttunderw riting?:tClassifytthetvarioustexposures
  8. Becausetthetinsurancetcompanytusuallytdeterminestpolicytwordingtandtthetinsuredthastlit tletchoicetbutttot"taketittortleavetit,"tantinsurancetcontracttista:tContracttoftadhesion
  9. Smarttproductstusedttotperformtrepetitivettasks:tRobots
  10. Whattistthetcorrecttordertfortthesetstepstintthetclaimstprocess?tCalculatingtatlosstreserve,t preparingtatlosststatement,tidentifyingtthetpolicy,tdeterminingtthetcausetoftloss:tIdentifyingtt hetpolicy,tcalculatingtatlosstreserve,tdeterminingtthetcausetoftloss,tpreparingtatlosststatement
  11. Whattistanothertnametfortatfieldtunderwriter?:tLinetUnderwriter
  12. Someonethastthetfollowingtduties:tevaluatetapplicantstthattproducerstsubmit,tpresentt policytquotations,tprocesstpolicytendorsements,thelptexplaintcoverages,tmaketcoveragetre commendations.tWhattisttheirtrole?:tField/LinetUnderwriter
  13. Intpersonaltproperty-casualtytinsurance,twhichtistmoretcommon:tmanu-

2 t/t tscripttformstortpre-printedtpolicies?:tPre-printedtpolicies

  1. Whichtstatementtisttrue?:tAtpolicytbeginstwithtatcoveragetoverview,tthentgoestintotmoretcov eragetdetails
  2. Whichtoftthesetistantexampletoftgeneraltdamages?:tCompensationtfortdisfigureme nt
  3. Whattaretthetfourtquadrantstoftrisk?:tHazard,tOperational,tFinancial,tStrate-tgic

4 t/t

  1. Whytaretinsurancetregulatorstconcernedtaboutttheteffectstoftlargetcata- tstrophes?:tInsurerstmaytbecometinsolvent
  2. Whattistinsurertsolvency?:tThetabilityttotmeettthetobligationstwhentittcomesttotmakingtpa ymentstontclaimstfortinsurancetpolicies.

5 t/t

  1. Whattistatstocktinsurer?:tatcorporationtownedtbytstockholderstwithtthetobjec- ttivetoftmakingtatprofittfortthem
  2. Whattistatmutualtinsurancetcompany?:tAtcorporationtownedtexclusivelytbytthetpolicyhol derstwithtthetobjectivetoftprovidingtinsurancetfortitstmembers.
  3. Intwhichttypetoftinsurertisteachtmembertbothtantinsuredtandtinsurer?:t- ReciprocaltInsurancetExchange
  4. Whattinsurertprovidestcoveragestunavailabletintthetstandardtmarket?:tSur-tplustlines
  5. Whattaretthetfivetmaintprovisionstintantinsurancetpolicy?:tDeclarations,tDefinitions,tI nsuringtAgreement,tPolicytConditions,tPolicytExclusions
  6. Whichtoftthesetactivitiestistnottperformedtbytatcustomertservicetrepresen- ttative?:tDeterminingtcoveragetquotes
  7. Whattaretthetsixtcharacteristicstoftantideallytinsurabletlosstexposure?:t- tFortuitous,tDefinitetandtMeasurable,tPuretRisk,tIndependenttandtnottCatastrophic,tOnetoftatlar getnumbertoftsimilartexposuretunits,tAffordable
  8. Whattdoestfortuitoustmean?:tThetinsuredthastnotcontroltovertwhethertortwhentthetlosstwillto ccur
  9. Whattistthetcosttoftrisk?:tThettotaltcosttoftalltaspectstoftthetorganizationtthattrelatettotman agingtrisk
  10. RileytTurnertistperformingtatcomprehensivetevaluationtoftHardwicktEnter- tprisesttotmaketsuretitstinsurancetandtrisktmanagementteffortstaretservingtthetorganizationta ppropriately.tWhichtonetoftthetfollowingtwilltbettruetintregardttotthisteffort?:tBesidestrisktma nagementtgoalstbeingtattainable,ttheytshouldtalsotposetatchallenge
  11. WhattistACVt(actualtcashtvalue)?:tReplacementtcostt-tDepreciation
  12. Whattistreplacementtcosttvaluation?:tDoestnottconsidertdepreciation,tbuttwhattittwoul dtcostttotreplacetthetitem
  13. WhattistAgreedtValue?:tThistmethodtistusedttotinsuretpropertytthattistdifficultttotvaluet(finet arts,tantiques,tcollections)
  14. Whattistatmoralthazard?:tQuestionabletbusinesstpracticestortatfailingtbusiness
  15. Whattistatmoralethazard?:tIndifferencettotproperlytmaintainingtpropertytortpoortfinancialtrec ordkeeping
  16. Whattistatphysicalthazard?:tConstruction,thazardoustmaterials,tpoortsafetytandthygiene

7 t/t

  1. Whattistthetamounttoftbusinesstthattantinsurertcantwritetbasedtontregu- tlatorytguidelines?t(usuallytatcomparisontoftthetinsurer'stwrittentpremiumsttotthetpolicyhol der'stsurplus):tCapacity
  2. Whattistpolicyholder'stsurplus?:tthetdifferencetbetweentantinsurancetcompa- tny'stassetstandtliabilities
  3. Whattistantadmittedtasset?:tItemstthattinsurerstcanteasilytturntintotcasht(stocks,tbon ds,trealtestate)
  4. Whattistatnonadmittedtasset?:tTypestoftpropertytthattinsurerstcan'tteasilytconvertttotca sh
  5. Whattgivestatsnapshottoftthetinsurer'stfinancialtpositiontattatspecifictpointtinttime?:tBalan cetsheet
  6. Whattistincludedtontantinsurer'stincometstatement?:tTotaltrevenue,texpens- tes,tnettincometfortattimetperiod
  7. EarnedtPremiums:tThetportiontoftwrittentpremiumstthattcorrespondsttotthetparttoftthetp olicytperiodtthatthastalreadytoccured
  8. UnearnedtPremium:tWrittentPremiumt- tEarnedtPremiumt(thetportiontoftwrittentpremiumstcorrespondingttotthetparttoftthetpolicytperiodt thatthastnottyettoccured)
  9. Oscar'stcustom- builttvehicletlookstliketatsausagetsandwichtontwheels.tHetplansttotdrivetitttotspecialteventsta ttschoolstaroundtthetcountrytwheretittwilltservetastatmobiletbillboardttotpromotethistproduct.t Oscartistsurprisedttotlearntthattinsurerstaretreluctantttotinsurethistvehicletbecausetittfailsttot meettonetoftthetidealtcharacteristicstoftantinsurabletrisk.tWhichtcharacteristictistOscar'stve hicletleasttlikelyttotmeet?:tLargetnumbertoftsimilartexposuretunits
  10. PravalttConstructiontCompanytpaystlesstthantitstcompetitorstfortworkerstcompensatio ntinsurancetbecausetPravaltthasthadtsubstantiallytfewertem- tployeetinjuriestthantothertfirmstintitstclass.tThistillustratestwhichtonetoftthetfollowingtbenef itstoftinsurance?:tPromotetrisktcontroltactivity
  11. Mariatistatnewtproducertwhotwearstmanythatstwhentformingtrelationshipstandtthentservi ngthertestablishedtcustomers.tIntthistcapacity,twhichtonetoftthetfollowingtscenariostmosttac curatelytdescribesthertongoingtworktwearingtthethattoft"claimsthandler"?:tVeronicatdirectlytc

8 t/t ontactstMariatfortguidancetonthowttotreporttatstolentcar,tMariatprovidestthat,tandtclaimstreptSe anttakestovertaftertantintroductiontfromtMaria.

  1. Whattistcombinedtratio?:tlosstratiot+texpensetratio
  2. Whattistthetlosstratio?:tincurredtlossest/tearnedtpremiums
  3. Whattistthetexpensetratio?:tUnderwritingtexpenses/Writtentpremiums
  4. Whattdoestatstafft(corporate)tunderwritertdo?:tResearchtthetmarket,tfor- tmulatetunderwritingtpolicy,trevisetunderwritingtguidelines,tdeveloptcoveragetforms,

10 t/t ntaccount'stdesirability,tidentifyingtphysical,tmoral,tandtmoralethazards

  1. Iftantinsuredtwantsttotreceivet"newtfortold"tinttheteventtoftatpropertytloss,ttheytwouldtpur chaset(valuationtmethod):tReplacementstcost
  2. Whatttypetoftinsurancetcompanytsharestitstprofitstandtmaytreturntatportiontoftth etpremiumttotitstpolicyholders?:tMutualtinsurer