AINS 23 Full Practice Exam Questions with Correct Answers (Already Graded A+)
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AINS 23
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AINS 23
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 insuran...
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 One contains no out right exclusions.
Commercial auto liability premium tables list premiums for private passenger autos by
rating territory and by - Answer ✔ Policy limit.
Which one of the following statements is correct regarding the maintenance of
underlying insurance condition of an umbrella liability insurance policy if the underlying
insurance is not kept in force? - Answer ✔ The umbrella policy would cover claims that
exceed the limits of the underlying policies as if they had been kept in force.
An employer that decides to purchase specific excess insurance to cover catastrophic
workers compensation losses must pay losses that are which one of the following? -
Answer ✔ Up to the retention for one occurrence.
One Common Policy Condition in the Commercial Package Policy (CPP) is the
examination of books and records. The intent of this policy condition is to - Answer ✔
Reserve the right of an insurer to inspect and audit the insured's books and records.
Which one of the following statements is correct with respect to the Newly Acquired or
Constructed Property extension of coverage of the Building and Personal Property
Coverage Form (BPP)? - Answer ✔ It covers newly acquired buildings, provided the
, purpose of the newly acquired building is similar to the use of the building described in
the declarations.
The insured is a sole proprietor who owns a business auto insured by a Business Auto
Coverage Form with a personal injury protection (PIP) endorsement. While driving the
car, she was in an accident in which the following losses were incurred:
- $2,000 housekeeper for one month
- $3,000 physical therapy and rehabilitation
- $4,000 damage to the covered auto
- $10,000 hospital bills
- $20,000 pain and suffering
Assuming adequate limits and that no other insurance policies apply, how much can
she recover pursuant to the PIP endorsement? - Answer ✔ $15,000
Which one of the following statements is correct with respect to the Control of Property
condition of the Commercial Property Conditions Form? - Answer ✔ It states that
coverage under the policy will not be affected by acts or omissions of persons other
than the insured, if the others are not acting under the direction or control of the insured.
Federal workers compensation statutes apply to which one of the following workers? -
Answer ✔ An interstat railroad worker.
Ace Builders is considering purchasing a large tract of land where a local fuel oil
company had its storage facility for more than 100 years. Ace knows that because of
the long-time operation at the site, some environmental clean-up will be necessary.
However, the amount of clean-up and its cost are unknown and cannot precisely be
estimated.
What is a specific policy that Ace should consider purchasing to address clean-up costs
in excess of what it might estimate? - Answer ✔ A remediation stop-loss policy.
The Commercial General Liability (CGL) Coverage B—Personal and Advertising Injury
Liability provides coverage for which one of the following? - Answer ✔ False arrest
Joe Motors, which services automobiles, wants to maintain the goodwill of its
customers. This is best accomplished by - Answer ✔ Purchasing garagekeepers
insurance.
A factory fire caused by an employer's negligence results in the death of one employee.
The employee was the sole parent and caregiver of a disabled young adult. The young
adult sues the employer for loss of services. Which one of the manufacturer's policies
would respond to this suit? - Answer ✔ The workers compensation and employers
liability policy would respond as loss of services is considered under employers liability
insurance.
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