100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AINS 103 Test Questions And Answers All Verified CA$19.59   Add to cart
Quickly navigate to
Preview
  2.  
  3. AINS 103
  4.  
  5. AINS 103

Exam (elaborations)

AINS 103 Test Questions And Answers All Verified

 6 views  0 purchase
  • Course
  • AINS 103
  • Institution
  • AINS 103

AINS 103 Test Questions And Answers All Verified Workers compensation benefits include which one of the following? Rehabilitation benefits 3 multiple choice options When a clothing manufacturer decides to expand the sale of its clothing line by offering internet purchases, it creates n...

[Show more]

Preview 3 out of 24  pages

Document information

  • August 22, 2024
  • 24
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • ains 103 test

Written for

  • AINS 103
  • AINS 103

Seller

avatar-seller
Studyclock

Reviews received

Content preview

AINS 103 Test


Workers compensation benefits include which one of the following?
Rehabilitation benefits
3 multiple choice options




K
When a clothing manufacturer decides to expand the sale of its clothing line by




C
offering internet purchases, it creates new exposures not otherwise covered, or
not fully covered, by a traditional policy. These include
Loss or damage caused by computer viruses.




LO
3 multiple choice options


Which one of the following supply chain exposures can a business mitigate by
carefully wording contracts and diversifying suppliers?
Loss of supply due to external events
YC
3 multiple choice options


The commercial property coverage part of a commercial package policy contains
one or more commercial property coverage forms. Each coverage form typically
includes all of the following, EXCEPT:
D

A range of covered peril
3 multiple choice options
U



Which one of the following statements best describes the Causes of Loss—Special
Form?
ST




The Special Form provides coverage for direct physical losses other than those
that are specifically excluded.
3 multiple choice options


Which one of the following best describes real property?
Tangible property that includes land, structures permanently attached to the
land, and whatever is growing on the land.
3 multiple choice options

,During a business interruption, some of the 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?
Payroll of key employees
3 multiple choice options


A vehicle owner had a tire store install four 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




K
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
Completed operations liability.




C
3 multiple choice options




LO
Which one of the following entities would likely have the greatest completed
operations loss exposure?
Paul the plumber
3 multiple choice options
YC
A carrier that is prevented by an accident from delivering the cargo aboard its
ship may face an exposure called loss of freight, which is
The compensation the carrier receives for transporting cargo.
3 multiple choice options
D

Which one of the following statements is correct with respect to the Building and
Personal Property Coverage Form (BPP) deductible?
U


If an occurrence involves a loss that affects more than one category of covered
property and a separate limit of insurance applies to each category, losses to all
categories are totaled and the deductible applied to that total amount.
ST




3 multiple choice options


Which one of the following statements is correct with respect to the Building and
Personal Property Coverage Form (BPP)?
Due to coverage extensions, it is possible for the total payment for one loss to
exceed the policy limit.
3 multiple choice options

, Which one of the following would be considered an extra expense under the
Business Income (and Extra Expense) Coverage Form of the commercial package
policy?
The increased cost of rent at a temporary location
3 multiple choice options


Dooley's Restaurant is insured under a 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




K
of the following is an acceptable reason for the CPP insurer to deny the business
income claim?
The policy's covered causes of loss did not include flood.




C
3 multiple choice options




LO
Lucy's Bakery is insured under a 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
YC
Income (and Extra Expense) Coverage Form, EXCEPT:
The salary of the assistant baker and cake decorator
3 multiple choice options


Richard's Clothing Store has a $500,000 Business Income (and Extra Expense)
D

Coverage Form on which there is an 80 percent coinsurance clause. A fire swept
through the store. Richard's Clothing Store estimates that its net income plus all
operating expenses for the policy period would have been $1,875,000. The
U


estimated business income loss is $300,000. How much will the insurer pay?
$100,000
3 multiple choice options
ST




Suzanne is a commercial lines underwriter. Which one of the following
components of the general liability coverage forms would she use to tailor the
form to meet the specialized needs of an insured?
Endorsements
3 multiple choice options


Under Coverage A of the commercial general liability coverage form (CGL),
property damage would include all of the following, EXCEPT:
Infringement of copyright

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Studyclock. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$19.59. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$19.59
  • (0)
  Add to cart