AINS 103 Exam Review Questions and Answers Latest [100% correct answers] 2024

In property insurance, the term "property in transit" refers to which one of the following? - AnswerC. 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? - Answer-B. Cost to rent temporary office space Radley Contracting Company is installing new signage on the front of a building. George, a passerby walking near the building is injured when a Radley employee accidentally drops a tool from a crane. George likely has the ability to assert which one the following types of claim? - Answer-B. Premises and operations liability Which one of the following entities would likely have the greatest completed operations loss exposure? - Answer-A. Paul the plumber 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 - Answer-B. The compensation the carrier receives for transporting cargo. To be covered under a workers compensation statute, an injury or disease (in most states) must meet which one of the following requirements? - Answer-A. Arise out of employees' job-related injuries and diseases The unauthorized intrusion into a company's computer network resulting in damage to intellectual property is best classified as which one of the following types of cyber liability exposures? - AnswerD. Intangible property An email was sent to a company's employees containing a harmful attachment. Several employees opened the attachment which allowed hackers to obtain customer contact information. This cyber risk loss is - Answer-D. Damage to intangible property. NH Manufacturing insures its building and personal property under the commercial property coverage part of a commercial package policy (CPP). During a blizzard, a portion of the building's roof collapsed from the weight of snow. The risk manager pulled out the CPP to make sure that the building was covered for this type of loss. Which one of the following components of the commercialproperty coverage part would provide the risk manager with information on the covered perils? - Answer-A. Causes of loss form Which one of the following is one of the covered causes of loss in the commercial property policy Causes of Loss—Basic form? - Answer-Vandalism