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AINS103 Practice Questions, AINS 103 Exam Questions With Verified Solutions In property insurance, the term "Property in Transit" refers to which one of the following? - ANS Property while being transported by trucks, cars, buses, trains, airplanes, and ships. Extra expenses are expenses, in addition to ordinary expenses, that an organization incurs to mitigate the effects of a business interruption. Which one of the following is an example of an extra expense? - ANS Cost to rent tempor...

AINS103 Practice Questions with All Correct Answers ( Exam) Which one of the following statements about the BOP is true? Select one: A. It provides liability coverage only. B. It provides property coverage only. C. It is designed for large businesses. D. It is designed for small to mid-sized business. - Answer D. It is designed for small to mid-sized business. Julian is the owner of The Clock Shop, a retail store selling a wide variety of clocks for the home and office. He leases the...

Heather and Jeff had the roof blown off their home during a recent storm. Which one of the following best expresses the financial outcome they are currently experiencing? A. No change in their financial outcome B. Increased expenses C. Lost income D. Reduction in property value Ans- D. Reduction in property value All of the following are considered personal property, EXCEPT: A. Cherry tree B. Antique piano C. Revolver D. Patent Ans- A. Cherry tree SF Poultry learned that a number...

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AINS102 Exam Guide Questions and CORRECT Answers All of the following items are examples of personal property, EXCEPT: Select one: A. Sports equipment B. Silverware C. A fishing boat D. Underground pipes - CORRECT ANSWER- Underground pipe