Ains 23 - Study guides, Class notes & Summaries

AINS 23 Exam Questions with All Correct Answers Commonly covered perils for Hull insurance - Answer- (1) Perils of the sea, including high winds, rough seas, strandings, groundings and collisions (2) Fire, lightning & earthquake (3) Barratry--serious misconduct by the captain or crew that causes damage to the vessel (4) All other like perils--this is not "all risk", only all similar perils named in the policy Commonly also includes wording to cover items like electrical breakdown, bo...

AINS 23 ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS (ALREADY GRADED A+) NEWEST VERSION Which one of the following statements is correct with respect to limits of liability applicable to Part Two—Employers Liability Insurance? - Answer It includes a bodily injury by disease policy limit. The insurer has no duty to pay defense costs after it has paid damages equaling the applicable limit of insurance. Which one of the following statements is correct with regard to the United States L...

AINS 23 TEST QUESTIONS WITH ALL CORRECT ANSWERS Which one of the following statements is true regarding insurance coverage for foreign operations? - Answer- Small to mid-sized businesses in the United States frequently must concern themselves with loss exposures that exist outside of the usual coverage territory in standard U.S. coverage forms. Fiduciary bonds are commonly required of a person who does which one of the following? - Answer- Holds property in trust for the benefit of others ...

AINS 23 Exam Questions with 100% Correct Answers Updated Types of Coverage classified as marine - Answer- 1) Imports and Exports 2) Domestic Shipments 3) Bridges, tunnels, and instrumentality of communication like piers, wharves, docks, pipelines, power lines and loading equipment 4) Types of property owned by individuals such as: furs, jewelry, coins and stamps 5) Various types of property pertaining to a business, profession or occupation Filed Classes of Business - Answer- Must h...

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1) Clarence entered into a contract bond that guarantees his insulation work will be free from defects in materials and workmanship for a specified period of five years after completion of the work. The type of bond used by Clarence is a Maintenance bond. 2) Which one of the following statements is correct with respect to ocean marine loss exposures? For cargo owners, the posibility of loss to the cargo exists either on board a vessel or on land between the vessel and the cargo's point of ...

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...

AINS 23 Chapter Four Practice Questions with All Correct Answers Which one of these is an example of a loss that would be covered under the Commercial Crime Coverage Form? A. Compensatory damages arising directly from a loss covered by the policy B. Fees related to any legal action C. Expenses incurred in establishing the existence of loss under the policy D. Business income losses - Answer- A. Compensatory damages arising directly from a loss covered by the policy. The ...

AINS 23 Full Practice Exam | Actual Questions and Answers 100% Correct | Latest Update 2024

Which one of the following lists the covered causes of loss (basic, broad, or special); the deductible amount; and any optional coverages? a. Commercial property conditions b. Commercial property declarations c. Causes of loss forms d. Commercial property coverage forms - Answer-b. Commercial property declarations Which one of the following is covered under the Building and Personal Property Coverage form (BPP) as business personal property? a. Completed additions to a building b. Perma...