Ains 103 exam - Study guides, Class notes & Summaries

AINS 103 Exam Review With Correct Answers.

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 lan...

While performing duties for the business, all of the following would be an insured under Business Liability Coverage of a partnership's businessowners policy (BOP), EXCEPT: - ACCURATE ANSWERS All executive officers of an LLC. Which one of the following would be covered under the Extra Expense insuring agreement of the Business Income (and Extra Expense) Coverage Form? - ACCURATE ANSWERS Costs to move office equipment to a substitute location. An intangible asset resulting from a collectio...

In property insurance, the term "property in transit" refers to which one of the following? - AnswerC. 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 Radley Contracting Company is installing new signage...

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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 EXAM QUESTIONS WITH VERIFIED ANSWERS