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AINS 103 ACTUAL EXAM 2|| STUDY GUIDE WITH 200+ QUESTIONS AND CORRECT ANSWERS WITH RATIONALES|| RECENT AND COMPLETE VERSION WITH EXPERT VERIFIED SOLUTIONS|| BRAND NEW!!!$29.49
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AINS 103 ACTUAL EXAM 2|| STUDY GUIDE WITH 200+ QUESTIONS AND CORRECT ANSWERS WITH RATIONALES|| RECENT AND COMPLETE VERSION WITH EXPERT VERIFIED SOLUTIONS|| BRAND NEW!!!
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AINS 103
Institution
AINS 103
AINS 103 ACTUAL EXAM 2|| STUDY
GUIDE WITH 200+ QUESTIONS AND CORRECT
ANSWERS WITH RATIONALES|| RECENT AND
COMPLETE VERSION WITH EXPERT
VERIFIED SOLUTIONS|| BRAND NEW!!!
AINS 103 ACTUAL EXAM 2||2024-2025 STUDY
GUIDE WITH 200+ QUESTIONS AND CORRECT
ANSWERS WITH RATIONALES|| RECENT AND
COMPLETE VERSION 2024-2025 WITH EXPERT
VERIFIED SOLUTIONS|| BRAND NEW!!!
Which one of the following describes one of the coverages provided by a Workers
Compensation and Employers Liability Insurance Policy (WC&EL)?
A. Payment of benefits as required by a state's workers compensation law
B. Payment for damages to a visitor hurt at the employer's location
C. Voluntary benefits to an injured employee
D. Providing an alternative to major medical insurance as an employee benefit
A. Payment of benefits as required by a state's workers compensation law
Umbrella liability policies are generally considered to afford superior coverage to
excess liability policies, because
A. Excess policies are equal to the maximum possible loss.
B. Umbrella policies provide coverages not available in underlying coverages.
C. Umbrella policies do not have a self-insured retention.
D. Excess policies are written with lower limits.
B. Umbrella policies provide coverages not available in underlying coverages.
,Page 2 of 24
One distinguishing feature between umbrella liability insurance and excess liability
insurance is that
A. Excess liability insurance is a form of reinsurance while umbrella liability
insurance is primary insurance.
B. Umbrella liability coverage may be subject to a self-insured retention.
C. Excess liability carries a larger deductible than umbrella liability.
D. Excess liability policies include defense costs while umbrella liability policies
do not.
B. Umbrella liability coverage may be subject to a self-insured retention.
Shelton Industries is insured under a commercial property policy and an equipment
breakdown policy. The company has two claims while both policies are in force.
The first claim is for a furnace explosion and the second claim is for an explosion
of unfired pressure vessels. Which one of the following explains how these losses
would be covered under the policies?
A. Each loss would be covered under both the commercial property policy and the
equipment breakdown policy.
B. Each loss would be covered under the commercial property policy only.
C. Each loss would be covered under the equipment breakdown policy only.
D. Neither policy provides coverage for any of the losses.
B. Each loss would be covered under the commercial property policy only.
James is in the process of forming his own brokerage company which will include
several employees. James will be best protected by purchasing which one of the
following to cover the crime loss exposures of his company?
, Page 3 of 24
A. Fidelity Bond.
B. Commercial Crime Insurance.
C. Financial Institution Bond.
D. Surety Bond.
C. Financial Institution Bond.
Stockholders are eligible for a Financial Institution Bond, which will cover their
crime loss exposures.
A motor truck cargo liability policy
A. Provides broad coverage for parcel post shipments throughout the United States,
Canada, and Mexico.
B. Covers a trucking company's liability for damage to goods of others while being
transported by the trucker.
C. Covers property in the care, custody or control of a governmental agency.
D. Covers cargo either on an inland marine policy or an ocean marine policy.
B. Covers a trucking company's liability for damage to goods of others while being
transported by the trucker.
Inland and ocean marine policies provide coverage for transportation loss
exposures. For an insured that would be considered an infrequent shipper, which
one of the following would be the best type of inland/ocean marine insurance to
cover this insured's shipping exposure?
A. Trip transit insurance
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