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AINS 103 Test With 100% Accurate Questions And Answers Graded A+
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JACKLINEAINS 103 Test With 100% Accurate Questions And Answers Graded A+
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Terms in this set (132)
Workers compensation benefits include which one Rehabilitation benefits 3 multiple choice options
of the following?
When a clothing manufacturer decides to expand Loss or damage caused by computer viruses. 3 multiple choice options
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
Which one of the following supply chain exposures Loss of supply due to external events 3 multiple choice options
can a business mitigate by carefully wording
contracts and diversifying suppliers?
AINS 103 Test
,8/9/24, 7:56 AM
The commercial property coverage part of a A range of covered peril 3 multiple choice options
commercial package policy contains one or more
commercial property coverage forms. Each
coverage form typically includes all of the
following, EXCEPT:
The Special Form provides coverage for direct physical losses other than those that are specifically
Which one of the following statements best
excluded.
describes the Causes of Loss—Special Form?
3 multiple choice options
Tangible property that includes land, structures permanently attached to the land, and whatever is
Which one of the following best describes real
growing on the land.
property?
3 multiple choice options
During a business interruption, some of the Payroll of key employees 3 multiple choice options
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?
A vehicle owner had a tire store install four new Completed operations liability. 3 multiple choice options
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
Which one of the following entities would likely Paul the plumber 3 multiple choice options
have the greatest completed operations loss
exposure?
A carrier that is prevented by an accident from The compensation the carrier receives for transporting cargo. 3 multiple choice options
delivering the cargo aboard its ship may face an
exposure called loss of freight, which is
If an occurrence involves a loss that affects more than one category of covered property and a
Which one of the following statements is correct
separate limit of insurance applies to each category, losses to all categories are totaled and the
with respect to the Building and Personal Property
deductible applied to that total amount.
Coverage Form (BPP) deductible?
3 multiple choice options
Which one of the following statements is correct Due to coverage extensions, it is possible for the total payment for one loss to exceed the policy
with respect to the Building and Personal Property limit.
Coverage Form (BPP)?
AINS 103 Test 3 multiple choice options
, 8/9/24, 7:56 AM
Which one of the following would be considered an The increased cost of rent at a temporary location 3 multiple choice options
extra expense under the Business Income (and Extra
Expense) Coverage Form of the commercial
package policy?
Dooley's Restaurant is insured under a commercial The policy's covered causes of loss did not include flood. 3 multiple choice options
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?
Lucy's Bakery is insured under a commercial The salary of the assistant baker and cake decorator 3 multiple choice options
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:
Richard's Clothing Store has a $500,000 Business $100,000 3 multiple choice options
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?
Suzanne is a commercial lines underwriter. Which Endorsements 3 multiple choice options
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?
AINS 103 Test
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