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AINS 101 Practice Exam – Review Questions and Answers | 100% Tested for 2025/2026, Exams of Nursing

AINS 101 Practice Exam – Review Questions and Answers | 100% Tested for 2025/2026 This document contains a complete set of practice exam questions and 100% tested answers for AINS 101 (Associate in General Insurance), updated for the 2025/2026 exam period. It covers key topics such as principles of insurance, underwriting, policy structure, risk management, and claims handling. Designed to reinforce core concepts and support confident exam preparation for insurance certification candidates

Typology: Exams

2024/2025

Available from 06/11/2025

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AINS 101 Practice Exam Review Questions and Answers 100% Tested
1. Onefdistinguishingffeaturefbetweenfindependentfagencyfsystemsfandfotherfmarketingfsys
temsfisfthe...:fagencyfexpirationflist
2. ForeignfInsurer:fAnfinsurerflicensedftofoperatefinfafstatefbutfincorporatedfinfanotherfstat
e
3. DomesticfInsurer:fAnfinsurerfdoingfbusinessfinfthefjurisdictionfinfwhichfitfwasfincorporate
d
4. AlienfInsurer:fAnfinsurerfdomiciledfinfafcountryfotherfthanfthefUS
5. DirectfResponsefMarketingfSystem:fGreatlyfreducesfcompensationfcostsfbutfhasfhigherfa
dvertisingfcosts
6. AgencyfExpirationfList:fAnfagency'sfmostfvaluablefassetf(doesfnotfbelongftofinsurer)
7. Importantfconsiderationfwhenfselectingfdistributionfchannels:fDoesfthefchannelfcap
italizefonfitsfcorefcapabilities?
8. Knowledgefacquiredfbyfthefagentfisfpresumedftofbe..:fknowledgefacquiredfbyfthefinsurer
9. Premiumfcollectionfmethodfusedfforfpersonalfinsurancefandfsmallfcommer-
fcialfaccounts:fDirectfBill
10. Whatfspecifiesfscopefoffauthorityfoffanfagent?:fAgencyfcontract
11. AgencyfBill:fPaymentfprocedurefinfwhichfafproducerfsendsfpremiumfbillsftofthefinsured,f
collectsfthefpremium,fandfsendsfthefpremiumftofthefinsurer,flessfanyfcommission
12. ItemfBasis:fPremiumf(lessfcommission)fisfforwardedftofthefinsurerfwhenfthefproducerfco
llectsfitforfwhenfitfcomesfdue.fLeastfcomplexfmethod
13. StatementfBasis:fInsurerfsendsfstatementftofthefproducerfshowingfthefpremi-
fumsfdue.fProducerfisfobligatedftofpayfthefpremiumsfasfdue.
14. AccountfCurrentfBasis:fProducerfperiodicallyfpreparesfafstatementfshowingfthefpremium
sfdueftofthefinsurer,fafterfdeductingfappropriatefcommissions,fandftransmitsfthefamountftofthef
insurer.fThefagencyfcontractfwillfindicatefhowfoftenfthefproducerfmustfsubmitfthefaccountfcurr
entfstatementf(usuallyfmonthly).fProducerfmustfpayfwhenfpremiumfisfdue,fevenfiffpolicyholderf
hasn'tfpaid.
15. Purposesfoffunderwriting:fDevelopfandfmaintainfafbookfoffbusiness,fguardfagainstfadver
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AINS 101 Practice Exam Review Questions and Answers 100% Tested

  1. Onefdistinguishingffeaturefbetweenfindependentfagencyfsystemsfandfotherfmarketingfsys temsfisfthe...:f agencyfexpirationflist
  2. ForeignfInsurer:f Anfinsurerflicensedftofoperatefinfafstatefbutfincorporatedfinfanotherfstat e
  3. DomesticfInsurer:f Anfinsurerfdoingfbusinessfinfthefjurisdictionfinfwhichfitfwasfincorporate d
  4. AlienfInsurer:f AnfinsurerfdomiciledfinfafcountryfotherfthanfthefUS
  5. DirectfResponsefMarketingfSystem:f Greatlyfreducesfcompensationfcostsfbutfhasfhigherfa dvertisingfcosts
  6. AgencyfExpirationfList:f Anfagency'sfmostfvaluablefassetf(doesfnotfbelongftofinsurer)
  7. Importantfconsiderationfwhenfselectingfdistributionfchannels:f Doesfthefchannelfcap italizefonfitsfcorefcapabilities?
  8. Knowledgefacquiredfbyfthefagentfisfpresumedftofbe..:f knowledgefacquiredfbyfthefinsurer
  9. Premiumfcollectionfmethodfusedfforfpersonalfinsurancefandfsmallfcommer- fcialfaccounts:f DirectfBill
  10. Whatfspecifiesfscopefoffauthorityfoffanfagent?:f Agencyfcontract
  11. AgencyfBill:f Paymentfprocedurefinfwhichfafproducerfsendsfpremiumfbillsftofthefinsured,f collectsfthefpremium,fandfsendsfthefpremiumftofthefinsurer,flessfanyfcommission
  12. ItemfBasis:f Premiumf(lessfcommission)fisfforwardedftofthefinsurerfwhenfthefproducerfco llectsfitforfwhenfitfcomesfdue.fLeastfcomplexfmethod
  13. StatementfBasis:f Insurerfsendsfstatementftofthefproducerfshowingfthefpremi- fumsfdue.fProducerfisfobligatedftofpayfthefpremiumsfasfdue.
  14. AccountfCurrentfBasis:f Producerfperiodicallyfpreparesfafstatementfshowingfthefpremium sfdueftofthefinsurer,fafterfdeductingfappropriatefcommissions,fandftransmitsfthefamountftofthef insurer.fThefagencyfcontractfwillfindicatefhowfoftenfthefproducerfmustfsubmitfthefaccountfcurr entfstatementf(usuallyfmonthly).fProducerfmustfpayfwhenfpremiumfisfdue,fevenfiffpolicyholderf hasn'tfpaid.
  15. Purposesfoffunderwriting:f Developfandfmaintainfafbookfoffbusiness,fguardfagainstfadver

sefselection,fensurefadequatefpolicyholder'sfsurplusfandfenforcefunderwritingfguidelines

  1. ExperiencefRating:f Afratingfplanfthatfadjustsfthefpremiumfforfthefcurrentfpolicyfperiodftofreco gnizeftheflossfexperiencefoffthefinsuredforganizationfduringfpastfpolicyfperiods
  2. SchedulefRating:f Afratingfplanfthatfawardsfdebitsfandfcreditsfbasedfspecificfcategories,fs uchfasfthefcarefandfconditionfoffpremisesfofftheftrainingfandfselectionfoffemployees,ftofreflectfaf modifiedfpremiumfthatfthefclassfratefdoesfnotfinclude

fcialfpropertyfpackage)

  1. "OtherfStructure":f Coveredfbyfpolicyfbutfunderfseparatefpolicyflimits
  2. Broadfstatementfoffinsurer'sfpromisesfinfafpolicy:f InsuringfAgreement
  3. Coinsurance:f Reducesfamountfoffrecoveryfiffafpropertyfisfunderinsured
  4. MedicalfPaymentsfunderfAutofPolicy:f Coverfonlyfoccupantsfoffcoveredfauto
  1. Affairfapproachftofliabilityfclaimsfisfto...:f evaluatefclaimsfasfthoughfnofcoverageflim itfexisted
  2. ACVf-fSalvagefValue:f ConstructivefTotalfLossforfnot
  3. JudgmentfRating:f Usedfwhenftherefisfnofestablishedfpremium-determinationfsystem
  4. FairfAccessftofInsurancefRequirementsf(FAIR):f makesfbasicfpropertyfinsur- fancefavailableftofthosefwhofcan'tfgetfitfotherwise
  5. Whenfproducersfhavefthefauthorityftofsettlefafclaim,ftheyffunctionflike...:f anfinsidefclaimsfr epresentative
  6. AcquisitionfExpensesf=:f Salesfsalariesf(bonusesfandfcommissions)f+fadver- ftisingfexpenses
  7. InvestmentfIncomefhelps...:f keepfinsurancefpremiumsfatfafreasonableflevel
  8. Underwritingfexpensesfarefdividedfbyfwrittenfpremiumsfinsteadfoffearnedfpremiumsfbe cause...:f theyfoccurfatfthefbeginningfoffthefpolicyfperiod
  9. FortuitousfLosses:f Lossesfthatfoccurfbyfaccidentforfchancefandfarefbeyondfthefinsured'sf control
  10. Destructivefcompetitionfinfthefinsurancefindustryfcouldfleadfto...:f insur- fancefshortages
  11. NationalfFloodfInsurancefProgram:f Governmentfpartnersfwithfafprivatefinsur- ferfthatfpaysfclaimsfandfreimbursesfinsurerfforflossesfthatfexceedfthefpremiumsfandfinvestmentfi ncome
  12. MutualfInsurers:f Havefafpolicyholder- electedfboardfandfmayfpayfdividendsftofpolicyholdersfasfafreturnfoffafportionfoffpremiumsfpaid
  13. TerrorismfRiskfInsurancefPlan:f Preventsfeconomicfdisruption
  14. Afforeignfinsurer'sflicensefisfrenewed:f annually
  15. Salariesfoffinvestmentfprofessionalsfarefconsidered:f investmentfexpenses
  16. Unearnedfpremiumsfarefpartfof...:f writtenfpremiums
  17. Iffanfinsurerfwereftofimmediatelyfceasefoperations,fpremiumfrefundsfwouldfcome ffrom...:f unearnedfpremiumfreserve
  18. Independentfagentfnetworksfarefcalled...:f agentfclusters
  19. Producerflicensesflastfforfafperiodfof...:f oneftoftwofyears
  20. Givenfthefcomplexityfoffcommercialfinsurance,fthefbestfdistributionfmethodfare
  1. IndividualfRating:f Pointsfarefaddedforfsubtractedftofarrivefatfafrate
  2. Thefextentfoffunderwritingfauthorityfgrantedftofanfagentfisfbasedfon...:f- premiumfvolumefandflossfexperience
  3. OneffactorfwhichfisfNOTfusedfinfdeterminingfreplacementfcostfis...:f actualfcashfvalue
  4. Iffafhousefburnsfdownffromffaultyfwiring,fthefmostfdifficultfthingftofdeter- fminefwouldfbe...:f thefamountfoffdamages
  5. CasefReserve:f Lossfreservefassignedftofanfindividualfclaim
  6. LossfRatiofincludes...:f IncurredfLossesfandfLossfAdjustmentfExpensesfoverfEarnedfPremi ums
  7. Damagesfforfdisfigurementfarefconsidered...:f generalfdamages
  8. PublicfAdjuster:f Hiredfbyfanfinsuredftofrepresentfanfinsuredfinfafclaimfandfmayfbefnecessaryfi ffclaimfisfcomplexforfnotfprogressingfquickly
  9. Thefultimatefgoalfoffthefclaimsffunctionfisftofsecurefthefprofitfgoalfoffthe insurer
  10. Infliabilityfclaims,fthefclaimantfisfreferredftofasfthe...:f thirdfparty
  11. FieldfClaimfRepresentative:f Investigatesfthefscenefoffthefloss,fmeetsfwithfthefinsured,fclai mantsfandfothers,fandfinspectsfthefdamage
  12. Traditionally,fthefriskfmanagementfprofessional'sfrolefhasfbeenfassociatedfwithflossfexp osuresfrelatedfto:f purefrisk
  13. Infmanagingflossfexposuresfusingfthefriskfmanagementfprocess,fthefkeyftofidentifyingfl ossfexposuresfis:f Understandingfhowfthefhouseholdforforganiza-ftionfoperates.
  14. Estimatingfhowflargeftheflossesfmayfbefandfhowfoftenftheyfmayfoccurfisfrequiredfunderf whichfonefoffthefstepsfoffthefriskfmanagementfprocess?:f An-falyzingflossfexposures
  15. Whenfimplementingfselectedfriskfmanagementftechniques,fafriskfmanagerfmust:f Deter minefhowftofallocatefthefcostsfoffthefprogram.
  16. Financialfstatementfanalysis,flossfhistoryfanalysis,fandfflowchartsfarefusedfin:f Iden tifyingflossfexposures.
  17. Infthefeventfoffafseriousfautofaccident,fwhatftypefofflawfwouldfdeterminefwhofwasfatffa ult?:f CommonfLaw
  18. Whenfafwrongdoerfcommitsfanfillegalfact,fthefwrongdoerfisfsubjectftofbothfcivilflawfandfcr iminalflawfin:f somefcases
  1. Infinsurancefterminology,ftrucks,ftrailers,fbuses,ffirefengines,fandfambu- flancesfdesignedfforfroadfusefarefexamplesfoffwhichfonefofftheffollowingfcategoriesfoffmo torfvehicles?:f Autos
  2. ContractfLawfisfafbranchfof:f CivilfLaw
  3. TortfLawfisfbasedfonfmainlyfon:f CommonfLaw