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AINS 103 EXAM TEST BANK ACCURATE AND VERIFIED

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AINS 103 EXAM TEST BANK ACCURATE AND VERIFIED | CONTAINS 4 PREVIOUSLY TESTED VERSIONS AND A STUDY GUIDE | GUARANTEED PASS | ALREADY GRADED A

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  • July 10, 2024
  • 62
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • ains 103
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AINS 103 EXAM TEST BANK ACCURATE AND VERIFIED |
CONTAINS 4 PREVIOUSLY TESTED VERSIONS AND A
STUDY GUIDE | GUARANTEED PASS | ALREADY GRADED A


Which one of the following is an example of injury or damage arising from an occurrence that
would be covered by the products and completed operations liability portion of the Commercial
General Liability (CGL) Coverage Form?
Select one:
A. A defective gas range manufactured by the insured explodes causing injury.
B. A customer's house is set on fire while the insured is doing plumbing work.
C. A dissatisfied customer sues an insured for slander.
D. A customer is injured when she slips on a wet floor in a store.
A. A defective gas range manufactured by the insured explodes causing injury
Joe Motors, which services automobiles, wants to maintain the goodwill of its customers. This is
best accomplished by
Select one:
A. Purchasing garage liability insurance.
B. Purchasing garagekeepers insurance.
C. Lowering the physical damage deductible under its business auto insurance.
D. Raising liability limits under its business auto insurance.
B. Purchasing garagekeepers insurance.
Workers compensation benefits include which one of the following?
Select one:
A. Death benefits of 100 percent of wage loss
B. Pain and suffering benefits
C. Rehabilitation benefits
D. Property damage benefits
C. Rehabilitation benefits
An email was sent to a company's employees containing a harmful attachment. Several
employees opened the attachment which allowed hackers to obtain customer contact information.
This cyber risk loss is
Select one:
A. Damage to intangible property.
B. Damage to personal property.
C. Damage to tangible property.
D. Errors and omissions liability.
A. Damage to intangible property.

,An individual owns a web-based business. All sales records and contact data are maintained on
the same network server as the website. Someone hacks into the server and deletes all of the
saved data. Which one of the following types of loss is this?
Select one:
A. Tangible property
B. Personal injury
C. Intangible property
D. Contingent business income
C. Intangible property
Property insurance policies use the term "personal property" to refer to the
Select one:
A. Property in transit.
B. Contents in and around a building.
C. Buildings not attached to the main building.
D. Company's copyrights and trademarks.
B. Contents in and around a building.
In business income insurance, the expenses that an organization would not have incurred if the
business interruption had not occurred are called
Select one:
A. Continuing expenses.
B. Contingent expenses.
C. Excludable expenses.
D. Extra expenses.
D. Extra expenses.
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
Select one:
A. Employers liability.
B. Completed operations liability.
C. Automobile liability.
D. Products liability.
B. Completed operations liability.
Which one of the following loss exposures exist when a business can be held legally liable for
bodily injury or property damage caused by their repair or contracting work?
Select one:
A. Operations liability
B. Completed operations liability

,C. Workers' compensation liability
D. Products liability
B. Completed operations liability
Inland marine insurance is insurance that covers
Select one:
A. Businesses that own or operate watercraft, or import or export goods.
B. Many different classes of property that typically involve an element of transportation on land.
C. Companies that ship goods by commercial vessel on inland waterways.
D. Miscellaneous lines such as burglary, glass, and steam boilers.
B. Many different classes of property that typically involve an element of transportation on land.
Sue is injured at work, and her job responsibilities are reduced for 30 days, after which time she
is fully recovered. Sue has which one of the following types of workers compensation
disabilities?
Select one:
A. Temporary total disability
B. Permanent partial disability
C. Temporary partial disability
D. Permanent total disability
C. Temporary partial disability
Meat Products Company (MPC) runs packing plants in three Midwest states. The company was
in the news recently because of its labor practices. The Department of Labor (DOL) investigated
complaints from five female employees that MPC discriminated against them. The DOL found
the claim was true. The Immigration and Naturalization Service (INS) found that the company
employed illegal immigrants and paid them less than the minimum wage. When this news
became public, MPC's reputation was severely harmed. This scenario illustrates which source of
reputation risk?
Select one:
A. Corporate governance and leadership
B. Corporate social responsibility
C. Regulatory and legal compliance
D. Communication and crisis management
C. Regulatory and legal compliance
The two categories of property that are exposed to loss from cyber risk are
Select one:
A. Insured and uninsured.
B. Covered and not covered.
C. Tangible and intangible.
D. Real and personal.

, C. Tangible and intangible.
Perils are an important aspect of property insurance. Which one of the following statements is
correct with respect to perils?
Select one:
A. A peril is the actual means by which property is damaged or destroyed such as fire, lightning,
windstorm, hail, or theft.
B. In order to be covered by an insurance policy, a peril must be defined and described in that
policy.
C. Property insurance policies can cover specific perils and cannot exclude other perils.
D. A peril is anything that increases the frequency or the severity of a loss.
A. A peril is the actual means by which property is damaged or destroyed such as fire, lightning,
windstorm, hail, or theft.
A contractor is hired to install a new concrete sidewalk in front of a store. Several weeks after
the sidewalk was installed, the concrete buckles and a passerby trips and falls on the buckled
sidewalk. The passerby sues the contractor to recover medical expenses incurred due to the fall.
This commercial liability loss is categorized as
Select one:
A. Products liability.
B. Environmental liability.
C. Professional liability.
D. Completed operations liability.
D. Completed operations liability.
Which one of the following best describes real property?
Select one:
A. Property being shipped to or from others.
B. Business personal property that includes furniture, machinery and equipment, and
stock/inventory.
C. Tangible property that includes land, structures permanently attached to the land, and
whatever is growing on the land.
D. Vehicles, merchandise, furniture, tools, and similar items.
C. Tangible property that includes land, structures permanently attached to the land, and
whatever is growing on the land.
Extra expenses are expenses, in addition to ordinary expenses, that an organization incurs to
mitigate the effects of a business interruption. Which one of the following is an example of an
extra expense?
Select one:
A. Cost to rent temporary office space
B. Insurance premiums

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