AINS 103 EXAM 2024/2025 WITH 100%
ACCURATE SOLUTIONS
Which one of the following best describes real property?
Select one:
A. Property being shipped to or from others.
B. Business personal property that includes furniture, machinery and
equipment, and stock/inventory.
C. Tangible property that includes land, structures permanently attached
to the land, and whatever is growing on the land.
D. Vehicles, merchandise, furniture, tools, and similar items. - Precise
Answer ✔✔C. Tangible property that includes land, structures
permanently attached to the land, and whatever is growing on the land.
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?
Select one:
A. Cost to rent temporary office space
B. Insurance premiums
C. Debt repayments
D. Payroll of key employees - Precise Answer ✔✔A. Cost to rent
temporary office space
,Upon entering a restaurant, a customer grasped a handrail that broke off,
causing the customer to fall and break his wrist. This is an example of
which one of the following types of commercial general liability loss?
Select one:
A. Premises and operations liability
B. Personal and advertising injury liability
C. Absolute liability
D. Products and completed operations liability - Precise Answer ✔✔A.
Premises and operations liability
The liability loss exposure that exists when an organization is legally
responsible for bodily injury or property damage caused by an accident
that occurs on an organization's owned, leased, or rented property is
Select one:
A. Professional liability.
B. Property liability.
C. Operations liability.
D. Premises and operations liability. - Precise Answer ✔✔D. Premises
and operations liability.
Automobile liability exposures can result from
Select one:
A. Damage to or destruction of an owned vehicle.
B. Loss of use of an owned automobile.
C. Workers compensation laws.
,D. Hiring or borrowing an automobile. - Precise Answer ✔✔D. Hiring
or borrowing an automobile.
To be covered under a workers compensation statute, an injury or
disease (in most states) must meet which one of the following
requirements?
Select one:
A. Result from the employer's negligence
B. Occur away from the regular work premises
C. Arise out of employees' job-related injuries and diseases
D. Result in total disability - Precise Answer ✔✔C. Arise out of
employees' job-related injuries and diseases
Cyber risk intellectual property loss exposures include
Select one:
A. Cyber extortion of trade secrets.
B. Personal and advertising injury liability.
C. Loss to tangible property.
D. Property damage liability. - Precise Answer ✔✔A. Cyber extortion of
trade secrets.
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. - Precise 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 - Precise 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?
ACCURATE SOLUTIONS
Which one of the following best describes real property?
Select one:
A. Property being shipped to or from others.
B. Business personal property that includes furniture, machinery and
equipment, and stock/inventory.
C. Tangible property that includes land, structures permanently attached
to the land, and whatever is growing on the land.
D. Vehicles, merchandise, furniture, tools, and similar items. - Precise
Answer ✔✔C. Tangible property that includes land, structures
permanently attached to the land, and whatever is growing on the land.
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?
Select one:
A. Cost to rent temporary office space
B. Insurance premiums
C. Debt repayments
D. Payroll of key employees - Precise Answer ✔✔A. Cost to rent
temporary office space
,Upon entering a restaurant, a customer grasped a handrail that broke off,
causing the customer to fall and break his wrist. This is an example of
which one of the following types of commercial general liability loss?
Select one:
A. Premises and operations liability
B. Personal and advertising injury liability
C. Absolute liability
D. Products and completed operations liability - Precise Answer ✔✔A.
Premises and operations liability
The liability loss exposure that exists when an organization is legally
responsible for bodily injury or property damage caused by an accident
that occurs on an organization's owned, leased, or rented property is
Select one:
A. Professional liability.
B. Property liability.
C. Operations liability.
D. Premises and operations liability. - Precise Answer ✔✔D. Premises
and operations liability.
Automobile liability exposures can result from
Select one:
A. Damage to or destruction of an owned vehicle.
B. Loss of use of an owned automobile.
C. Workers compensation laws.
,D. Hiring or borrowing an automobile. - Precise Answer ✔✔D. Hiring
or borrowing an automobile.
To be covered under a workers compensation statute, an injury or
disease (in most states) must meet which one of the following
requirements?
Select one:
A. Result from the employer's negligence
B. Occur away from the regular work premises
C. Arise out of employees' job-related injuries and diseases
D. Result in total disability - Precise Answer ✔✔C. Arise out of
employees' job-related injuries and diseases
Cyber risk intellectual property loss exposures include
Select one:
A. Cyber extortion of trade secrets.
B. Personal and advertising injury liability.
C. Loss to tangible property.
D. Property damage liability. - Precise Answer ✔✔A. Cyber extortion of
trade secrets.
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. - Precise 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 - Precise 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?
