Ains commercial insurance Study guides, Class notes & Summaries

AINS 103 Study Guide (New 2023/ 2024 Update) Exploring Commercial Insurance _ Complete with Questions and Verified Answers_ 100% Correct_ A Grade QUESTION The increased cost of rent at a temporary location is considered an ______ expense Answer: Extra QUESTION Renting new equipment at a temporary space is considered an ______ expense Answer: Extra QUESTION Paying overtime is considered an ______ expense Answer: Extra QUESTION Pay for ...

AINS Quiz | 713 Actual Test Bank Questions and Answers 100% Correct | New Update 2024 Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: - Commercial general liability - Auto liability - Replacement liability - Employers liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Which one of the following statements a...

AINS 103 | 50 Question with 100 % Verified Solutions | Verified& Updated 2024 | Already Passed Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Da...

Which one of the following best describes the concept of pooling? ️ The concept of pooling is that insureds share the cost of each other's losses As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point? ️ When her car's windshield breaks, Ciara has to pay only $100 of the $600 co...

As a single mother on a very tight budget, Ciara is tempted to skimp on her insurance. However, her friend Mehmet tells her not to skimp on insurance, because it will help manage her cash flows. Which one of the following examples best illustrates Mehmet's point? A. Ciara needs her car to get to her job, and she needs her job to make car payments and pay for her car insurance. B. When her car's windshield breaks, Ciara has to pay only $100 of the $600 cost of replacing it. C. When her ...

AINS 103 Questions and Answers Graded A+ Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Danforth Grocery Store is most exposed to which one ...

AINS 101 EXAM 2024 | QUESTION WITH 100 % CORRECT DETAILED ANSWERS | VERIFIED|A+ GRADE Which of the following is an example of a legal requirement for individuals that could be met through insurance? • Obtaining personal auto insurance The concepts of Risk, Transfer and Pooling form the basis of insurance. Transfers the risk to the insurer Typical Insurance Needs: Personal & Commercial policies if someone has a business and house or cars. Personal Insurance: • Property Insurance • Liab...

AINS 103 | 50 Questions and Answers 100% Solved Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Danforth Grocery Store is most exposed to wh...

AINS Quiz 713 Questions and Answers 100% Solved Umbrella liability policies almost always provide excess coverage over several primary policies while include all of the following, EXCEPT: Commercial general liability Auto liability Replacement liability Employers liability - Replacement liability The coverage that an umbrella liability policy provides for claims not covered at all by the underlying policies is called - Drop-down coverage Which one of the following statements a...