AINS 103 EXAM 2024/2025 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Course
AINS 103
Institution
AINS 103
Loss exposure - ACCURATE ANSWERS Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs.
Property loss exposure - ACCURATE ANSWERS A condition that presents the possibility that a person or an organization will sustain a loss resulting from damage (i...
AINS 103 EXAM 2024/2025
AINS 103 EXAM 2024/2025 WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
Loss exposure - ACCURATE ANSWERS✔✔ Any condition or situation that
presents a possibility of loss, whether or not an actual loss occurs.
Property loss exposure - ACCURATE ANSWERS✔✔ A condition that presents
the possibility that a person or an organization will sustain a loss resulting from
damage (including destruction, taking, or loss of use) to property in which that
person or organization has a financial interest.
Real property (realty) - ACCURATE ANSWERS✔✔ Tangible property consisting
of land, all structures permanently attached to the land, and whatever is growing on
the land.
Personal property - ACCURATE ANSWERS✔✔ All tangible or intangible
property that is not real property
, Business personal property - ACCURATE ANSWERS✔✔ Stock, furniture,
fixtures, equipment and machinery, tenant's improvements and betterments, and
other personal property owned by the insured
Fixture - ACCURATE ANSWERS✔✔ Any personal property affixed to real
property in such a way as to become part of the real property
Money - ACCURATE ANSWERS✔✔ Currency, coins, bank notes, and sometimes
traveler's checks, credit card slips, and money orders held for sale to the public
Securities - ACCURATE ANSWERS✔✔ Written instruments representing either
money or other property, such as stocks and bonds
Peril - ACCURATE ANSWERS✔✔ The cause of a loss
Business income insurance - ACCURATE ANSWERS✔✔ Insurance that covers
the reduction in an organization's income when operations are interrupted by
damage to property caused by a covered peril
Business interruption - ACCURATE ANSWERS✔✔ Loss of revenue that a
business or another organization sustains because its operations are suspended as a
result of physical injury to its property
Profit - ACCURATE ANSWERS✔✔ Net income that results when revenues
exceed expenses
Continuing expenses - ACCURATE ANSWERS✔✔ Expenses that continue to be
incurred during a business interruption
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