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AINS 103 EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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AINS 103 EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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AINS 103 EXAM 2024/2025 WITH 100% ACCURATESOLUTIONS
In property insurance, the term "property in transit" refers to which one
of the following? - Precise Answer ✔✔C. Property while being
transported by trucks, cars, buses, trains, airplanes, and ships
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? - Precise
Answer ✔✔B. Cost to rent temporary office space
Radley Contracting Company is installing new signage on the front of a
building. George, a passerby walking near the building is injured when a
Radley employee accidentally drops a tool from a crane. George likely
has the ability to assert which one the following types of claim? - Precise
Answer ✔✔B. Premises and operations liability
Which one of the following entities would likely have the greatest
completed operations loss exposure? - Precise Answer ✔✔A. Paul the
plumber
A carrier that is prevented by an accident from delivering the cargo
aboard its ship may face an exposure called loss of freight, which is -
Precise Answer ✔✔B. The compensation the carrier receives for
transporting cargo.
,To be covered under a workers compensation statute, an injury or
disease (in most states) must meet which one of the following
requirements? - Precise Answer ✔✔A. Arise out of employees' job-
related injuries and diseases
The unauthorized intrusion into a company's computer network resulting
in damage to intellectual property is best classified as which one of the
following types of cyber liability exposures? - Precise Answer ✔✔D.
Intangible property
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 -
Precise Answer ✔✔D. Damage to intangible property.
NH Manufacturing insures its building and personal property under the
commercial property coverage part of a commercial package policy
(CPP). During a blizzard, a portion of the building's roof collapsed from
the weight of snow. The risk manager pulled out the CPP to make sure
that the building was covered for this type of loss. Which one of the
following components of the commercial property coverage part would
provide the risk manager with information on the covered perils? -
Precise Answer ✔✔A. Causes of loss form
Which one of the following is one of the covered causes of loss in the
commercial property policy Causes of Loss—Basic form? - Precise
Answer ✔✔Vandalism
, Billy owns a baseball souvenir store in Cooperstown, NY. He insured
his store under a Building and Personal Property Coverage Form (BPP)
with a $275,000 limit and a $1,500 deductible. A large fire in the store
caused significant damage amounting to $310,000 in covered damages.
How much would Billy's insurer pay under his BPP? - Precise Answer
✔✔$275K
Which one of the following statements about Inflation Guard optional
coverage of the Building and Personal Property Coverage Form (BPP) is
true? - Precise Answer ✔✔C. It is automatically increases the limit of
insurance by the percentage of annual increase shown in the
declarations.
Which one of the following would be covered under the Extra Expense
insuring agreement of the Business Income (and Extra Expense)
Coverage Form? - Precise Answer ✔✔D. Costs to move to a temporary
location
Which one of the following would be considered an extra expense under
the Business Income (and Extra Expense) Coverage Form of the
commercial package policy? - Precise Answer ✔✔C. The increased cost
of rent at a temporary location
When Sylvester Properties suffered a $500,000 loss of business income,
it filed a claim under the Business Income (and Extra Expense)
Coverage Form (BIC) of its commercial package policy. In order for the
loss to be covered, the loss of business income must be due to a
necessary suspension in operations caused by a direct physical loss or
damage to property at the premises for which BIC is shown in the policy
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