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AINS103 PRACTICE QUESTIONS, AINS 103 QUESTIONS WITH ACCURATE ANSWERS
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AINS103 PRACTICE QUESTIONS, AINS 103 QUESTIONS WITH ACCURATE ANSWERS
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AINS103 PRACTICE QUESTIONS, AINS103 QUESTIONS WITH ACCURATE
ANSWERS
In cproperty cinsurance, cthe cterm c"Property cin cTransit" crefers cto cwhich cone cof cthe
cfollowing? c- ccorrect canswers✔✔Property cwhile cbeing ctransported cby ctrucks, ccars,
cbuses, ctrains, cairplanes, cand cships.
Extra cexpenses care cexpenses, cin caddition cto cordinary cexpenses, cthat can corganization
cincurs cto cmitigate cthe ceffects cof ca cbusiness cinterruption. cWhich cone cof cthe cfollowing cis
can cexample cof can cextra cexpense? c- ccorrect canswers✔✔Cost cto crent ctemporary coffice
cspace.
Upon centering ca crestaurant, ca ccustomer cgrasped ca chandrail cthe cbroke coff, ccausing cthe
ccustomer cto cfall cand cbreak chis cwrist. cThis cis can cexample cof cwhich cone cof cthe cfollowing
ctypes cof ccommercial cgeneral cliability closs? c- ccorrect canswers✔✔Premises cand
coperations cliability.
A ccontractor cis chired cto cinstall ca cnew cconcrete csidewalk cin cfront cof ca cstore. cSeveral
cweeks cafter cthe csidewalk cwas cinstalled, cthe cconcrete cbuckles cand ca cpasserby ctrips cand
cfalls con cthe cbuckled csidewalk. cThe cpasserby csues cthe ccontractor cto crecover cmedical
cexpenses cincurred cdue cto cthe cfall. cThis ccommercial cliability cis ccategorized cas c- ccorrect
canswers✔✔Completed coperations cliability.
A ccarrier cthat cis cprevented cby can caccident cfrom cdelivering cthe ccargo caboard cits cship
cmay cface can cexposure ccalled closs cof cfreight, cwhich cis c- ccorrect canswers✔✔The
ccompensation cthe ccarrier creceives cfor ctransporting ccargo.
The cmanagement cof cMaryland cMarine cCo. c(MMC) cmust censure cthat cproper ccoverage cis
cobtained cfor cwork- crelated cinjuries. cThe cemployee cpopulation cof cMMC cis ca cmixture cof
cfull-time cand cpart-time cemployees cas cwell cas csome ccasual cemployees cfor cone-time
ctasks. cMuch cof cMMC's cwork cis cdone cby cindependent ccontractors cand ctemporary
cemployees cduring cpeak cseasons. cWhich cone cof cthe cfollowing cstatements cabout cthese
cpersons cis ctrue? c- ccorrect canswers✔✔Many cstates cworkers ccompensation cstatutes
cexclude ccasual clabor c(temporary cemployees).
When ca cclothing cmanufacturer cdecides cto cexpand cthe csale cof cits cclothing cline cby
coffering cinternet cpurchases, cit ccreates cnew cexposures cnot cotherwise ccovered, cor cnot
cfully ccovered, cby ca ctraditional cpolicy. cThese cinclude c- ccorrect canswers✔✔Loss cor
cdamage ccaused cby ccomputer cvirsuses.
Meat cProducts cCompany c(MPC) cruns cpacking cplants cin cthree cMidwest cstates. cThe
ccompany cwas cin cthe cnews crecently cbecause cof cits clabor cpractices. cThe cDepartment cof
,cLabor c(DOL) cinvestigated ccomplaints cfrom cfive cfemale cemployees cthat cMPC
cdiscriminated cagainst cthem. cThe cDOL cfound cthe cclaim cwas ctrue. cThe cImmigration cand
cNaturalization cService c(INS) cfound cthat cthe ccompany cemployed cillegal cimmigrants cand
cpaid cthem cless cthan cthe cminimum cwage. cWhen cthis cnews cbecame cpublic, cMPC's
creputation cwas cseverely charmed. cThis cscenario cillustrates cwhich csource cof creputation
crisk c- ccorrect canswers✔✔Regulatory cand clegal ccompliance.
Perils care can cimportant caspect cof cproperty cinsurance. cWhich cone cof cthe cfollowing
cstatements cis ccorrect cwith crespect cto cperils? c- ccorrect canswers✔✔A cperil cis cthe cactual
cmeans cby cwhich cproperty cis cdamaged cor cdestroyed csuch cas cfire, clightning, cwindstorm,
chail cor ctheft.
During ca cbusiness cinterruption, csome cof cthe corganizations cexpenses, ccalled ccontinuing
cexpenses, cwill ccontinue, cand cother cexpenses, ccalled cnon-continuing cexpenses, cwill cnot
ccontinue. cWhich cone cof cthe cfollowing cis can cexample cof ca ccontinuing cexpense? c- ccorrect
canswers✔✔Payroll cof ckey cemployees.
Which cone cof cthe cfollowing closs cexposure cexist cwhen ca cbusiness ccan cbe cheld clegally
cliable cfor cbodily cinjury cor cproperty cdamaged ccaused cby ctheir crepair cor ccontracting cwork?
c- ccorrect canswers✔✔Completed coperations cliability.
Which cone cof cthe cfollowing centities cwould clikely chave cthe cgreatest ccompleted coperations
closs cexposure? c- ccorrect canswers✔✔Paul cthe cplumber.
Inland cmarine cinsurance cis cinsurance cthat ccovers c- ccorrect canswers✔✔Many cdifferent
cclasses cof cproperty cthat ctypically cinvolve can celement cof ctransportation con cland.
Joe csigns ca ccontract cwith cHome cBuilders cto cinstall cthe celectrical cwiring cfor ca cnew chome.
cHe cuses chis cown ctools cand cfollows cthe cspecifications cin cthe ccontract. cJoe cis cburned
cwhile cinstalling cthe cwiring. cDoes cHome cBuilders' cworkers ccompensation cpolicy ccover
cJoe's cinjury? c- ccorrect canswers✔✔No, cbecause cJoe cis cnot can cemployee cof cHome
cBuilders.
Cyber crisk cintellectual cproperty closs cexposures cinclude c- ccorrect canswers✔✔Cyber
cextortion cof ctrade csecrets.
As cpart cof cits cassessment cof cits ccyber crisk, can corganization cshould cconsider cwhether
cthere care cany cintangible cproperty cexposures. cWhich cone cof cthe cfollowing cwould cbest cbe
cclassified cas can cintangible cproperty closs? c- ccorrect canswers✔✔The ccomputer csystem cis
chacked cand cdata cincluding ccredit ccard cnumbers care cstolen.
Property cinsurance cpolicies cuse cthe cterm c"personal cproperty" cto crefer cto cthe c- ccorrect
canswers✔✔Contents cin cand caround ca cbuilding.
,In cbusiness cincome cinsurance, cthe cexpenses cthat can corganization cwould cnot chave
cincurred cif cthe cbusiness cinterruption chave cnot coccurred care ccalled c- ccorrect
canswers✔✔Extra cexpenses.
Radley cContracting cCompany cis cinstalling cnew csignage con cthe cfront cof ca cbuilding.
cGeorge, ca cpasserby cwalking cnear cthe cbuilding cis cinjured cwhen ca cRadley cemployee
caccidentally cdrops ca ctool cfrom ca ccrane. cGeorge clikely chas cthe cability cto cassert cwhich
cone cthe cfollowing ctypes cof cclaim? c- ccorrect canswers✔✔Premises cand coperations
cliability.
John cpurchased ca cnew clawnmower ctwo cyears cago. cAfter csignificant cuse, cthe
clawnmower cneeded cservicing. cA crepairman csharpened cthe cblade cbut che cfailed cto
creattach cit cproperly cto cthe clawnmower. cWhen cJohn cwas cusing cthe clawnmower, cthe
cblade cflew coff cand cseriously cinjured cJohn's cdaughter. cFrom cthe cstandpoint cof ca
ccommercial cliability closs cfor cthe crepair cshop, cthis cis can cexample cof c- ccorrect
canswers✔✔Completed coperations cliability.
Automobile cliability cexposures ccan cresult cfrom c- ccorrect canswers✔✔Hiring cor cborrowing
can cautomobile.
Workers ccompensation cbenefits cinclude cwhich cone cof cthe cfollowing? c- ccorrect
canswers✔✔Rehabilitation cBenefits.
The cunauthorized cintrusion cinto ca ccompany's ccomputer cnetwork cresulting cin cdamage cto
cintellectual cproperty cis cbest cclassified cas cwhich cone cof cthe cfollowing ctypes cof ccyber
cliability cexposures? c- ccorrect canswers✔✔Intangible cproperty.
An cemail cwas csent cto ca ccompany's cemployee ccontaining ca charmful cattachment. cSeveral
cemployees copened cthe cattachment cwhich callowed chackers cto cobtain ccustomer ccontact
cinformation. cThis ccyber crisk closs cis c- ccorrect canswers✔✔Damage cto cintangible
cproperty.
Which cone cof cthe cfollowing cbest cdescribes creal cproperty? c- ccorrect canswers✔✔Tangible
cproperty cthat cinclude cland, cstructures cpermanently cattached cto cthe cland, cand cwhatever
cis cgrowing con cthe cland.
Which cone cof cthe cfollowing cis can cexample cof cinjury cor cdamage carising cfrom can
coccurrence cthat cwould cbe ccovered cby cthe cproducts cand ccompleted coperations cliability
cportion cof cthe cCommercial cGeneral cLiability c(CGL) cCoverage cForm? c- ccorrect
canswers✔✔A cdefective cgas crange cmanufactured cby cthe cinsured cexplodes ccausing
cinjury.
A cbuilding ccontractor cuses clower cgrade cmaterials cthan ccalled cfor cin cthe cspecifications cfor
can coffice cbuilding. cA cyear cafter cthe cbuilding cwas ccompleted, ca cbalcony ccollapses,
cinjuring cseveral cemployees cand ccustomers cand ccausing cdamage cto cthe cbuilding cand
, ccontents. cFor cthe cbuilding cconstruction ccompany, cthis cis can cexample cof c- ccorrect
canswers✔✔A ccompleted coperations cliability cexposure.
To cbe ccovered cunder ca cworkers ccompensation cstatute, can cinjury cor cdisease c(in cmost
cstates) cmust cmeet cwhich cone cof cthe cfollowing crequirements? c- ccorrect canswers✔✔Arise
cout cof cemployees cjob-related cinjuries cand cdiseases.
Which cone cof cthe cfollowing csupply cchain cexposures ccan ca cbusiness cmitigate cby
ccarefully cwording ccontracts cand cdiversifying csuppliers? c- ccorrect canswers✔✔Loss cof
csupply cdue cto cexternal cevents.
Bio-Pharma cwas ca chighly cregarded cpharmaceutical ccompany. cThat cchanged clast cyear
cwhen cit cwas crevealed cthat cBio-Pharma cresearchers chad cfabricated ctest cresults cof cthe
ccompany's cnew chypertension cdrug, ca ccompany cofficial cbribed ca ckey cregulator cto cget cthe
cdrug capproved. cThese crevelations cled cto ca csharp cdecline cin csales cof call cBio-Pharma's
cdrugs, ca csharp cdecline cin cnet cincome, cand ca cdecline cin cBio-Pharma's cstock cprice. cThis
cscenario cclearly cindicates cthe cvalue cof ca ccorporation's c- ccorrect canswers✔✔Reputation.
Sally cis ca ccommercial cproperty cclaims cadjuster. cWhen cshe cfirst cassigned ca cclaim, cshe
creviews cthe ccommercial cproperty cpart cof cthe cpolicy cto cmake csure cthat cthe cproperty cthat
csuffered cthe closs cmatches cthe cdescription cof cthe cproperty cinsured. cShe calso creviews
cthe ckinds cand camounts cof ccoverage cprovided. cWhich cof cthe cfollowing ccomponents cof
cthe ccommercial cproperty cpart cwill cprovide cSally cwith cthis cinformation? c- ccorrect
canswers✔✔Commercial cproperty cdeclarations cpage.
Billy cowns ca cbaseball csouvenir cstore cin cCooperstown, cNY. cHe cinsured chis cstore cunder ca
cBuilding cand cPersonal cProperty cCoverage cForm c(BPP) cwith ca c$275,000 climit cand ca
c$1,500 cdeductible. cA clarge cfire cin cthe cstore ccaused csignificant cdamage camounting cto
c$310,000 cin ccovered cdamages. cHow cmuch cwould cBilly's cinsurer cpay cunder chis cBPP? c-
ccorrect canswers✔✔$275,000.
Which cone cof cthe cfollowing cis cone cof cthe ccovered ccauses cof closs cin cthe ccommercial
cproperty cpolicy cCauses cof cLoss c- cBasic cForm? c- ccorrect canswers✔✔Explosion.
Which cone cof cthe cfollowing cstatements cabout cInflation cGuard coptional ccoverage cof cthe
cBuilding cand cPersonal cProperty cCoverage cForm c(BPP) cis ctrue? c- ccorrect canswers✔✔It
cautomatically cincreases cthe climit cof cinsurance cby cthe cpercentage cof cannual cincrease
cshown cin cthe cdeclarations.
Which cone cof cthe cfollowing cwould cbe ccovered cunder cthe cExtra cExpense cinsuring
cagreement cof cthe cBusiness cIncome c(and cExtra cExpense) cCoverage cForm? c- ccorrect
canswers✔✔Costs cto cmove cto ca ctemporary clocation.
Lucy's cBakery cis cinsured cunder ca ccommerical cpackage cpolicy cwith cthe cBusiness cIncome
c(and cExtra cExpenses) cCoverage cForm. cA cfire closs ccaused csignificant cdamage cto cthe
cbuilding. cWhen cLucy clearned cthat cit cwould ctake c9 cmonths cto crepair cthe cbuilding, cshe
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