AINS 103 MOCK EXAM REVIEW QUESTIONS
AND SOLUTIONS 2026
◉ As part of its assessment of its cyber risk, an organization should
consider whether there are any intangible property exposures.
Which one of the following would best be classified as an intangible
property loss?
Select one:
A. Two disgruntled employees use the computer system to transfer
office funds into their own personal bank accounts.
B. The computer system is hacked and data including credit card
numbers are stolen.
C. Thieves break into the main office and steal several desktop
computers.
D. There is a fire in the storage area which destroys the backup copy
of the office computer system. Answer: B. The computer system is
hacked and data including credit card numbers are stolen.
◉ A commercial building may contain furniture, machinery and
equipment and finished products. Which one of the following is the
term generally used in property insurance policies to refer to all
these types of property?
Select one:
A. Business personal property
,B. Stock
C. Inventory
D. Commercial property Answer: A. Business personal property
◉ A family recently purchased a new home constructed by a
residential home builder. Two months after taking possession,
several of the family members were injured when the roof suddenly
collapsed. The family sued the construction company and was
awarded monetary damages for their injuries. This is an example of
which one of the following types of commercial liability loss
exposure for the construction company?
Select one:
A. Products liability
B. Premises and operations liability
C. Completed operations liability
D. Employers liability Answer: C. Completed operations liability
◉ Which one of the following is an example of injury or damage
arising from an occurrence that would be covered by the products
and completed operations liability portion of the Commercial
General Liability (CGL) Coverage Form?
Select one:
A. A defective gas range manufactured by the insured explodes
causing injury.
,B. A customer's house is set on fire while the insured is doing
plumbing work.
C. A dissatisfied customer sues an insured for slander.
D. A customer is injured when she slips on a wet floor in a store.
Answer: A. A defective gas range manufactured by the insured
explodes causing injury
◉ Joe Motors, which services automobiles, wants to maintain the
goodwill of its customers. This is best accomplished by
Select one:
A. Purchasing garage liability insurance.
B. Purchasing garagekeepers insurance.
C. Lowering the physical damage deductible under its business auto
insurance.
D. Raising liability limits under its business auto insurance. Answer:
B. Purchasing garagekeepers insurance.
◉ Workers compensation benefits include which one of the
following?
Select one:
A. Death benefits of 100 percent of wage loss
B. Pain and suffering benefits
C. Rehabilitation benefits
D. Property damage benefits Answer: C. Rehabilitation benefits
, ◉ 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
Select one:
A. Damage to intangible property.
B. Damage to personal property.
C. Damage to tangible property.
D. Errors and omissions liability. Answer: A. Damage to intangible
property.
◉ An individual owns a web-based business. All sales records and
contact data are maintained on the same network server as the
website. Someone hacks into the server and deletes all of the saved
data. Which one of the following types of loss is this?
Select one:
A. Tangible property
B. Personal injury
C. Intangible property
D. Contingent business income Answer: C. Intangible property
◉ Property insurance policies use the term "personal property" to
refer to the
AND SOLUTIONS 2026
◉ As part of its assessment of its cyber risk, an organization should
consider whether there are any intangible property exposures.
Which one of the following would best be classified as an intangible
property loss?
Select one:
A. Two disgruntled employees use the computer system to transfer
office funds into their own personal bank accounts.
B. The computer system is hacked and data including credit card
numbers are stolen.
C. Thieves break into the main office and steal several desktop
computers.
D. There is a fire in the storage area which destroys the backup copy
of the office computer system. Answer: B. The computer system is
hacked and data including credit card numbers are stolen.
◉ A commercial building may contain furniture, machinery and
equipment and finished products. Which one of the following is the
term generally used in property insurance policies to refer to all
these types of property?
Select one:
A. Business personal property
,B. Stock
C. Inventory
D. Commercial property Answer: A. Business personal property
◉ A family recently purchased a new home constructed by a
residential home builder. Two months after taking possession,
several of the family members were injured when the roof suddenly
collapsed. The family sued the construction company and was
awarded monetary damages for their injuries. This is an example of
which one of the following types of commercial liability loss
exposure for the construction company?
Select one:
A. Products liability
B. Premises and operations liability
C. Completed operations liability
D. Employers liability Answer: C. Completed operations liability
◉ Which one of the following is an example of injury or damage
arising from an occurrence that would be covered by the products
and completed operations liability portion of the Commercial
General Liability (CGL) Coverage Form?
Select one:
A. A defective gas range manufactured by the insured explodes
causing injury.
,B. A customer's house is set on fire while the insured is doing
plumbing work.
C. A dissatisfied customer sues an insured for slander.
D. A customer is injured when she slips on a wet floor in a store.
Answer: A. A defective gas range manufactured by the insured
explodes causing injury
◉ Joe Motors, which services automobiles, wants to maintain the
goodwill of its customers. This is best accomplished by
Select one:
A. Purchasing garage liability insurance.
B. Purchasing garagekeepers insurance.
C. Lowering the physical damage deductible under its business auto
insurance.
D. Raising liability limits under its business auto insurance. Answer:
B. Purchasing garagekeepers insurance.
◉ Workers compensation benefits include which one of the
following?
Select one:
A. Death benefits of 100 percent of wage loss
B. Pain and suffering benefits
C. Rehabilitation benefits
D. Property damage benefits Answer: C. Rehabilitation benefits
, ◉ 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
Select one:
A. Damage to intangible property.
B. Damage to personal property.
C. Damage to tangible property.
D. Errors and omissions liability. Answer: A. Damage to intangible
property.
◉ An individual owns a web-based business. All sales records and
contact data are maintained on the same network server as the
website. Someone hacks into the server and deletes all of the saved
data. Which one of the following types of loss is this?
Select one:
A. Tangible property
B. Personal injury
C. Intangible property
D. Contingent business income Answer: C. Intangible property
◉ Property insurance policies use the term "personal property" to
refer to the
