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AINS103 Practice Questions, AINS 103 WITH ANSWERS GRADED A+
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AINS103 Practice Questions, AINS 103 WITH ANSWERS GRADED A+
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10/5/24, 8:49 AMEUNICE
AINS103 Practice Questions, AINS 103 WITH 100% SURE
ANSWERS
Terms in this set (513)
In property insurance, the term "Property in Property while being transported by trucks, cars, buses, trains, airplanes, and ships.
Transit" refers to which one of the
following?
Extra expenses are expenses, in addition to Cost to rent temporary office space.
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?
Upon entering a restaurant, a customer Premises and operations liability.
grasped a handrail the broke off, causing
the customer to fall and break his wrist. This
is an example of which one of the following
types of commercial general liability loss?
A contractor is hired to install a new Completed operations liability.
concrete sidewalk in front of a store.
Several weeks after the sidewalk was
installed, the concrete buckles and a
passerby trips and falls on the buckled
sidewalk. The passerby sues the contractor
to recover medical expenses incurred due
to the fall. This commercial liability is
categorized as
A carrier that is prevented by an accident The compensation the carrier receives for transporting cargo.
from delivering the cargo aboard its ship
may face an exposure called loss of freight,
which is
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, 10/5/24, 8:49 AM
The management of Maryland Marine Co. Many states workers compensation statutes exclude casual labor (temporary
(MMC) must ensure that proper coverage is employees).
obtained for work- related injuries. The
employee population of MMC is a mixture
of full-time and part-time employees as
well as some casual employees for one-
time tasks. Much of MMC's work is done by
independent contractors and temporary
employees during peak seasons. Which
one of the following statements about
these persons is true?
When a clothing manufacturer decides to Loss or damage caused by computer virsuses.
expand 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
Meat Products Company (MPC) runs Regulatory and legal compliance.
packing plants in three Midwest states. The
company was in the news recently because
of its labor practices. The Department of
Labor (DOL) investigated complaints from
five female employees that MPC
discriminated against them. The DOL found
the claim was true. The Immigration and
Naturalization Service (INS) found that the
company employed illegal immigrants and
paid them less than the minimum wage.
When this news became public, MPC's
reputation was severely harmed. This
scenario illustrates which source of
reputation risk
Perils are an important aspect of property A peril is the actual means by which property is damaged or destroyed such as fire,
insurance. Which one of the following lightning, windstorm, hail or theft.
statements is correct with respect to
perils?
During a business interruption, some of the Payroll of key employees.
organizations expenses, called continuing
expenses, will continue, and other
expenses, called non-continuing expenses,
will not continue. Which one of the
following is an example of a continuing
expense?
Which one of the following loss exposure Completed operations liability.
exist when a business can be held legally
liable for bodily injury or property
damaged caused by their repair or
contracting work?
Which one of the following entities would Paul the plumber.
likely have the greatest completed
operations loss exposure?
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