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AINS 103 Test WITH ANSWERS GRADED A+
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10/5/24, 8:39 AMEUNICE
AINS 103 Test WITH 100% SURE ANSWERS
Terms in this set (132)
Workers compensation benefits include Rehabilitation benefits 3 multiple choice options
which one of the following?
When a clothing manufacturer decides to Loss or damage caused by computer viruses. 3 multiple choice options
expand the sale of its clothing line by
offering internet purchases, it creates new
exposures not otherwise covered, or not
fully covered, by a traditional policy. These
include
Which one of the following supply chain Loss of supply due to external events 3 multiple choice options
exposures can a business mitigate by
carefully wording contracts and
diversifying suppliers?
The commercial property coverage part of A range of covered peril 3 multiple choice options
a commercial package policy contains one
or more commercial property coverage
forms. Each coverage form typically
includes all of the following, EXCEPT:
Which one of the following statements best The Special Form provides coverage for direct physical losses other than those that
describes the Causes of Loss—Special are specifically excluded.
Form? 3 multiple choice options
Tangible property that includes land, structures permanently attached to the land,
Which one of the following best describes
and whatever is growing on the land.
real property?
3 multiple choice options
During a business interruption, some of the Payroll of key employees 3 multiple choice options
organization's expenses, called continuing
expenses, will continue, and other
expenses, called noncontinuing expenses,
will not continue. Which one of the
following is an example of a continuing
expense?
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, 10/5/24, 8:39 AM
A vehicle owner had a tire store install four Completed operations liability. 3 multiple choice options
new wheels and tires on the vehicle. On the
way home from the store, one of the
wheels came off, causing the vehicle to
accidentally run off the road and strike a
tree. The vehicle owner sued the tire store
for failing to properly tighten the lug nuts
on the vehicle. The loss exposure faced by
the tire store in this case is known as
Which one of the following entities would Paul the plumber 3 multiple choice options
likely have the greatest completed
operations loss exposure?
A carrier that is prevented by an accident The compensation the carrier receives for transporting cargo. 3 multiple choice options
from delivering the cargo aboard its ship
may face an exposure called loss of freight,
which is
Which one of the following statements is If an occurrence involves a loss that affects more than one category of covered
correct with respect to the Building and property and a separate limit of insurance applies to each category, losses to all
Personal Property Coverage Form (BPP) categories are totaled and the deductible applied to that total amount.
deductible? 3 multiple choice options
Which one of the following statements is Due to coverage extensions, it is possible for the total payment for one loss to
correct with respect to the Building and exceed the policy limit.
Personal Property Coverage Form (BPP)? 3 multiple choice options
Which one of the following would be The increased cost of rent at a temporary location 3 multiple choice options
considered an extra expense under the
Business Income (and Extra Expense)
Coverage Form of the commercial package
policy?
Dooley's Restaurant is insured under a The policy's covered causes of loss did not include flood. 3 multiple choice options
commercial package policy (CPP) with the
Business Income (with Extra Expense)
Coverage Form. The business suffered a
$400,000 loss of business income when it
was forced to suspend operations after
flood waters damaged the basement and
first floor of the restaurant. Which one of
the following is an acceptable reason for
the CPP insurer to deny the business
income claim?
Lucy's Bakery is insured under a The salary of the assistant baker and cake decorator 3 multiple choice options
commercial package policy with the
Business Income (and Extra Expense)
Coverage Form. A fire loss caused
significant damage to the building. When
Lucy learned that it would take 9 months to
repair the building, she decided to
temporarily relocate to a nearby rental
location. All of the following would be
considered covered extra expenses under
the Business Income (and Extra Expense)
Coverage Form, EXCEPT:
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