Ains 103 business - Study guides, Class notes & Summaries

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 103 EXAM QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) ALREADY GRADED A+ Ava is Regional Manager for Goshen Mutual. She is looking over the past auto losses for Disposal Inc. She is tracking the experience of their drivers, the location of accidents, and the severity of the injury to their employees and the public. She is trying to determine the frequency and severity of the auto exposure for Disposal and to use the future models to suggest where Disposal alloca...

AINS 103 Exam Review Questions with Verified Solutions In property insurance, the term "property in transit" refers to which one of the following? 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? B. Cost to rent temporary office space Rad...

AINS 103 Questions & Answers 2023 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 of the f...

AINS 103 Practice Exam - Questions and Answers (Complete Solutions) Which one of the following best describes real property? 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. Extra expenses are expenses, in addition ...

AINS 103 Questions & Answers Loss exposure - ANS-Any condition or situation that presents a possibility of loss, whether or not an actual loss occurs. Property loss exposure - ANS-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) - ANS-Tangible property consisting of land, all ...

AINS 103 Questions With All 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. - Correct Ans-C. Tangible property that inc...

AINS 103 Exam Review Questions And Answers In property insurance, the term "property in transit" refers to which one of the following? - 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? - Answer-B. Cost to rent temporary office space Rad...

AINS 103 Questions With All 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. - Correct Ans-C. Tangible property that inc...

AINS 103 Ch.5 Business owners policies (BOP) - ANS-Designed for small to mid sized businesses Most BOP eligibility rules are based on critera relatred to business size and complexity of loss exposures such as total square footage of the floor area, annual gross sales, building height, business type Apartment buildings critera - ANS-may not be able to exceed a certain number of floors or units. Premitted occupancies may include offices and eligible wholesaler, retail, service, processing, ...