Ains commercial insurance - Study guides, Class notes & Summaries

AINS 21 EXAM TEST BANK 164 QUESTIONS WITH 100% CORRECT ANSWERS UPDATED What are four types of liability insurance that insurers provide? - Answer- 1) Auto 2) Commercial General 3) Personal 4) Professional How do insurers cover auto liability? - Answer- They cover an insured's liability for bodily injury to others and damage to the property of others resulting from auto-mobile accidents. How do insurers cover commercial general liability? - Answer- They cover businesses for their liabi...

AINS Quiz 713 Questions and Answers 100% Solved Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: Commercial general liability Auto liability Replacement liability Employers liability - Replacement liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Drop-down coverage Which one of the following statements a...

AINS 103 Questions and Answers Graded A+ Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Danforth Grocery Store is most exposed to which one ...

AINS103 Practice Questions, AINS 103 Exam Questions and Answers In property insurance, the term "Property in Transit" refers to which one of the following? - Answer-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? - Answer-Cost to rent temporary...

AINS 101 EXAM 2024 | QUESTION WITH 100 % CORRECT DETAILED ANSWERS | VERIFIED|A+ GRADE Which of the following is an example of a legal requirement for individuals that could be met through insurance? • Obtaining personal auto insurance The concepts of Risk, Transfer and Pooling form the basis of insurance. Transfers the risk to the insurer Typical Insurance Needs: Personal & Commercial policies if someone has a business and house or cars. Personal Insurance: • Property Insurance • Liab...

AINS 103 Exam Questions With Verified Answers Which one of the following best describes real property? Select one: A. Property being shipped to or from others. B. Business personal property that includes furniture, machinery and equipment, and stock/inventory. C. Tangible property that includes land, structures permanently attached to the land, and whatever is growing on the land. D. Vehicles, merchandise, furniture, tools, and similar items. - ANS C. Tangible property that includes l...

AINS 103: Practice Quiz-All Chapters Exam Questions And Answers For most businesses, which peril poses the greatest risk of a large or total property loss? - ANS For most businesses, fire poses the greatest risk of a large or total property loss. 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? - ANS Cost to rent temporary office spa...

AINS 23 Full Practice Exam Questions with Correct Answers (Already Graded A+) Which one of the following is a characteristic of a site-specific environmental impairment liability policy? - Answer It provides coverage on a claims-made basis. Exclusions are generally very common in all insurance policies. Which one of the following is a correct statement regarding the exclusions in Part One of the standard Workers Compensation and Employers Liability (WC&EL) Insurance Policy? - Answer Part...

AINS 101 EXAM QUESTIONS AND CORRECT ANSWERS (ALREADY GRADED A+) Which one of the following is part of written premiums? - Answer- Unearned premiums Which one of the following is shown on the balance sheet of an insurer? - Answer- Cash and short-term investments Most of the income an insurer receives is either from underwriting or - Answer- Investments - 2 major sources of insurer income are the sale of insurance (underwriting) and the investment of funds (investment income) Clare is a ...

AINS Quiz | 713 Questions with 100 % correct answers | Verified& Updated 2024 Graded A+ Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: - Commercial general liability - Auto liability - Replacement liability - Employers liability - Replacement liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Drop-down coverage Whi...