AINS 103 - All Chapters Latest Update 2024-2025
Actual Exam Questions and 100% Verified
Correct Answers Verified by Professor
A cell phone manufacturer's management is concerned to learn of the possibility that its
largest supplier will soon merge with one of the manufacturer's top competitors. Identify
the manufacturer's supply chain exposures (select all that apply to this scenario). -
CORRECT ANSWER: - Loss of supply due to external events
- Supply sourcing
A limit is set for each building insured when business income insurance is written on a -
CORRECT ANSWER: specific basis
Aubree was employed by a temporary employment agency and assigned to a
department store during a busy shopping period. While lifting a box, she strained her
back and required medical care and rehabilitation. She lost a month's wages. Which
employer's workers compensation policy, if any, will provide benefits for Aubree's injury?
The department store - CORRECT ANSWER: The employment agency
BPP Coverage Extensions - CORRECT ANSWER: -BPP coverage extensions protect
additional types of property, such as newly acquired or constructed property, various
types of storage units and trailers, and outdoor property, among others.
-The extensions apply only if at least 80 percent coinsurance or a value reporting period
symbol is shown in the declarations.
-80 percent coinsurance means that the insured has agreed to purchase coverage that
is at least 80 percent of the insured property's value.
-Although subject to special limits, the amounts payable under coverage extensions are
in addition to the overall limits of insurance stated in the declarations.
, Can you guess which of the following typically are not eligible for the Business Auto
Coverage Form? - CORRECT ANSWER: Auto or trailer dealers
Motor carriers
Causes of Loss Form - CORRECT ANSWER: Allows the insured to select the types of
losses covered
Click on every icon that represents an extra expense that would be covered under the
Business Income (and Extra Expense) Coverage Form, but not under the Business
Income (Without Extra Expense): - CORRECT ANSWER: - Costs to move to a
temporary location
- Increased rent at the temporary location
- rental of substitute equipment
- Cost of substitute services
Commercial Property Conditions - CORRECT ANSWER: Lists the rules to which the
insured and insurer must adhere for coverage to apply
Commercial Property Declarations - CORRECT ANSWER: Describes the property
insured and what its covered for
Coverage C of the CGL policy provides coverage, other than liability insurance, for
________ of injuries resulting from minor accidents on the insured's premises or as a
result of the ___________ Its coverage is subject to ____________. - CORRECT
ANSWER: - Medical treatment
- Insured's operations
- Several Exclusions
Damages must occur within the period of time for which the policy was in effect, even if
the claim is not made until many years after the policy period ends. - CORRECT
ANSWER: true
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Tutordiligent. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $20.49. You're not tied to anything after your purchase.
