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AINS 103 EXAM REVIEW QUESTIONS WITH ACCURATE ANSWERS
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AINS 103 EXAM REVIEW QUESTIONS WITH ACCURATE ANSWERS
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AINS 103 EXAM REVIEW QUESTIONSWITH ACCURATE ANSWERS
In aproperty ainsurance, athe aterm a"property ain atransit" arefers ato awhich aone aof athe
afollowing? a- acorrect aanswers✔✔C. aProperty awhile abeing atransported aby atrucks, acars,
abuses, atrains, aairplanes, aand aships
Extra aexpenses aare aexpenses, ain aaddition ato aordinary aexpenses, athat aan aorganization
aincurs ato amitigate athe aeffects aof aa abusiness ainterruption. aWhich aone aof athe afollowing
ais aan aexample aof aan aextra aexpense? a- acorrect aanswers✔✔B. aCost ato arent atemporary
aoffice aspace
Radley aContracting aCompany ais ainstalling anew asignage aon athe afront aof aa abuilding.
aGeorge, aa apasserby awalking anear athe abuilding ais ainjured awhen aa aRadley aemployee
aaccidentally adrops aa atool afrom aa acrane. aGeorge alikely ahas athe aability ato aassert awhich
aone athe afollowing atypes aof aclaim? a- acorrect aanswers✔✔B. aPremises aand aoperations
aliability
Which aone aof athe afollowing aentities awould alikely ahave athe agreatest acompleted
aoperations aloss aexposure? a- acorrect aanswers✔✔A. aPaul athe aplumber
A acarrier athat ais aprevented aby aan aaccident afrom adelivering athe acargo aaboard aits aship
amay aface aan aexposure acalled aloss aof afreight, awhich ais a- acorrect aanswers✔✔B. aThe
acompensation athe acarrier areceives afor atransporting acargo.
To abe acovered aunder aa aworkers acompensation astatute, aan ainjury aor adisease a(in amost
astates) amust ameet awhich aone aof athe afollowing arequirements? a- acorrect aanswers✔✔A.
aArise aout aof aemployees' ajob-related ainjuries aand adiseases
The aunauthorized aintrusion ainto aa acompany's acomputer anetwork aresulting ain adamage
ato aintellectual aproperty ais abest aclassified aas awhich aone aof athe afollowing atypes aof
acyber aliability aexposures? a- acorrect aanswers✔✔D. aIntangible aproperty
An aemail awas asent ato aa acompany's aemployees acontaining aa aharmful aattachment.
aSeveral aemployees aopened athe aattachment awhich aallowed ahackers ato aobtain
acustomer acontact ainformation. aThis acyber arisk aloss ais a- acorrect aanswers✔✔D.
aDamage ato aintangible aproperty.
NH aManufacturing ainsures aits abuilding aand apersonal aproperty aunder athe acommercial
aproperty acoverage apart aof aa acommercial apackage apolicy a(CPP). aDuring aa ablizzard, aa
aportion aof athe abuilding's aroof acollapsed afrom athe aweight aof asnow. aThe arisk amanager
apulled aout athe aCPP ato amake asure athat athe abuilding awas acovered afor athis atype aof
aloss. aWhich aone aof athe afollowing acomponents aof athe acommercial aproperty acoverage
, apart awould aprovide athe arisk amanager awith ainformation aon athe acovered aperils? a-
acorrect aanswers✔✔A. aCauses aof aloss aform
Which aone aof athe afollowing ais aone aof athe acovered acauses aof aloss ain athe acommercial
aproperty apolicy aCauses aof aLoss—Basic aform? a- acorrect aanswers✔✔Vandalism
Billy aowns aa abaseball asouvenir astore ain aCooperstown, aNY. aHe ainsured ahis astore
aunder aa aBuilding aand aPersonal aProperty aCoverage aForm a(BPP) awith aa a$275,000 alimit
aand aa a$1,500 adeductible. aA alarge afire ain athe astore acaused asignificant adamage
aamounting ato a$310,000 ain acovered adamages. aHow amuch awould aBilly's ainsurer apay
aunder ahis aBPP? a- acorrect aanswers✔✔$275K
Which aone aof athe afollowing astatements aabout aInflation aGuard aoptional acoverage aof
athe aBuilding aand aPersonal aProperty aCoverage aForm a(BPP) ais atrue? a- acorrect
aanswers✔✔C. aIt ais aautomatically aincreases athe alimit aof ainsurance aby athe apercentage
aof aannual aincrease ashown ain athe adeclarations.
Which aone aof athe afollowing awould abe acovered aunder athe aExtra aExpense ainsuring
aagreement aof athe aBusiness aIncome a(and aExtra aExpense) aCoverage aForm? a- acorrect
aanswers✔✔D. aCosts ato amove ato aa atemporary alocation
Which aone aof athe afollowing awould abe aconsidered aan aextra aexpense aunder athe
aBusiness aIncome a(and aExtra aExpense) aCoverage aForm aof athe acommercial apackage
apolicy? a- acorrect aanswers✔✔C. aThe aincreased acost aof arent aat aa atemporary alocation
When aSylvester aProperties asuffered aa a$500,000 aloss aof abusiness aincome, ait afiled aa
aclaim aunder athe aBusiness aIncome a(and aExtra aExpense) aCoverage aForm a(BIC) aof aits
acommercial apackage apolicy. aIn aorder afor athe aloss ato abe acovered, athe aloss aof
abusiness aincome amust abe adue ato aa anecessary asuspension ain aoperations acaused aby
aa adirect aphysical aloss aor adamage ato aproperty aat athe apremises afor awhich aBIC ais
ashown ain athe apolicy adeclarations. aWhich aone aof athe afollowing ais aalso apart aof athe
acriteria afor athe aloss ato abe acovered? a- acorrect aanswers✔✔C. aThe aloss aor adamage
amust abe acaused aby aa acovered acause aof aloss.
Karma aTea aShop a(KTS) ahas athree alocations ain aBoston. aThe abusiness ais ainsured aby aa
acommercial apackage apolicy awith athe aBusiness aIncome a(and aExtra aExpense)
aCoverage aForm a(BIC). aThe aBIC ahas aa a$300,000 alimit aof ainsurance awhich aapplies ato
aall athree alocations aand aa a70 apercent acoinsurance aprovision. aThe abusiness aincome
ainsurance afor aKTS ais awritten aon aa a- acorrect aanswers✔✔B. aBlanket abasis.
Michael ais aa ageneral aliability aclaims aadjuster afor aGoshen aMutual. aHe awants ato asee aif
aan ainsured ahas aany aendorsements athat aapply ato aits ageneral aliability apolicy. aWhich
aone aof athe afollowing asections aof athe acoverage aform awould aprovide athis ainformation
afor aMichael? a- acorrect aanswers✔✔D. aDeclarations
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