Exam (elaborations)
AINS 103 Test Questions and answers latest update
- Course
- AINS 103
- Institution
- Chamberlain College Of Nursing
AINS 103 Test Questions and answers latest update
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AINS 103 Test Workers compensation benefits include which one of the following? - correct answer Rehabilitation benefits When a clothing manufacturer decides to expand the sale of its clothing line by offering internet purchases, it creates new exposures not otherwise covered, or not fully covered, by a traditional policy. These include - correct answer Loss or damage caused by computer viruses. Which one of the following supply chain exposures can a business mitigate by carefully wording contracts and diversifying suppliers? - correct answer Loss of supply due to external events The commercial property coverage part of a commercial package policy contains one or more commercial property coverage forms. Each coverage form typically includes all of the following, EXCEPT: - correct answer A range of covered peril Which one of the following statements best describes the Causes of Loss —Special Form? - correct answer The Special Form provides coverage for direct physical losses other than those that are specifically excluded. Which one of the following best describes real property? - correct answer Tangible property that includes land, structures permanently attached to the land, and whatever is growing on the land. During a business interruption, some of the organization's expenses, called continuing expenses, will continue, and other expenses, called noncontinuing expenses, will not continue. Which one of the following is an example of a continuing expense? - correc t answer Payroll of key employees A vehicle owner had a tire store install four new wheels and tires on the vehicle. On the way home from the store, one of the wheels came off, causing the vehicle to accidentally run off the road and strike a tree. The vehicle owner sued the tire store for failing to properly tighten the lug nuts on the vehicle. The loss exposure faced by the tire store in this case is known as - correct answer Completed operations liability. Which one of the following entities would likely have the greatest completed operations loss exposure? - correct answer Paul the plumber A carrier that is prevented by an accident from delivering the cargo aboard its ship may face an exposure called loss of freight, which is - correct answer The compensation the carrier receives for transporting cargo. Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form (BPP) deductible? - correct answer If an occurrence involves a loss that affects more than one category of covered property and a separate lim it of insurance applies to each category, losses to all categories are totaled and the deductible applied to that total amount. Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form (BPP)? - correct answer Due to coverage extensions, it is possible for the total payment for one loss to exceed the policy limit. Which one of the following would be considered an extra expense under the Business Income (and Extra Expense) Coverage Form of the commercial package policy? - correct answer The increased cost of rent at a temporary location Dooley's Restaurant is insured under a commercial package policy (CPP) with the Business Income (with Extra Expense) Coverage Form. The business suffered a $400,000 loss of business income when it was forced to suspend operations after flood waters damaged the basement and first floor of the restaurant. Which one of the following is an acceptable reason for the CPP insurer to deny the business income claim? - correct answer The policy's covered causes of loss did not include flood. Lucy's Bakery is insured under a commercial package policy with the Business Income (and Extra Expense) Coverage Form. A fire loss caused significant damage to the building. When Lucy learned that it would take 9 months to repair the building, she decided to temporarily relocate to a nearby rental location. All of the following would be considered covered extra expenses under the Business Income (and Extra Expense) Coverage Form, EXCEPT: - correct answer The salary of the assistant baker and cake decorator Richard's Clothing Store has a $500,000 Business Income (and Extra Expense) Coverage Form on which there is an 80 percent coinsurance clause. A fire swept through the store. Richard's Clothing Store estimates that its net income plus all operating expenses for the policy period would have been $1,875,000. The estimated business income loss is $300,000. How much will the insurer pay? - correct answer $100,000 Suzanne is a commercial lines underwriter. Which one of the following components of the general liability coverage forms would she use to tailor the form to meet the specialized needs of an insured? - correct answer Endorsements Under Coverage A of the commercial general liability coverage form (CGL), property damage would include all of the following, EXCEPT: - correct answer Infringement of copyright Leslie suffered a severe burn to her hand when her microwave oven manufactured by LH Appliances caught fire. The fire also caused damage to her kitchen cabinets. Two years later, Leslie decided to file a suit against the manufacturer when she learned that microwaves manufactured by LH Appliances had been found responsible for several other fires. LH Appliances was insured by an occurrence version of the commercial general liability (CGL) coverage form with no deductible or endorsements. Which one of the fol lowing correctly describes how LH Appliances' CGL will apply to the claim? - correct answer The CGL will defend the insured, and pay both for both the bodily injury and damages to the cabinets if found liable. Chuckie's chicken distributor researches the benefits of consuming chicken versus consuming beef. In November 2011, Chuckie's publishes a brochure outlining the potential health hazards of consuming beef and explaining why chicken is a healthier alternativ e. Chuckie continues to publish and distribute the same brochure for six months. In March 2012, several beef distributors file a suit against Chuckie's for personal and advertising injury. Which one of the following exclusions would apply to this claim under Coverage B of Chuckie's Commercial General Liability Coverage Form (CGL) with a policy period of January 2012 - January 2013? - correct answer Material published prior to the policy period Which one of the following claims would be covered under Coverage B —Personal and Advertising Injury Liability of the Commercial General Liability Coverage Form (CGL)? - correct answer A store manager accuses a young man of shoplifting, apprehends him, and locks him in a storage room until the police arrive. When it is discovered that the young man is innocent, he files a claim against the store. Shady Stories, a tabloid newspaper, prints a false story about a local politician. Shady knows the story is false but thinks it will sell a lot of papers. The politician claims damages from Shady. Shady's Commercial General Liability (CGL) Coverage Form ex cludes coverage for this loss because the claim arose out of which one of the following? - correct answer Written material that was known to be falseThe benefits of buying summaries with Stuvia:
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