AINS 103(All Practice Questions
from the Course) NEWEST
COMBINED VERSION 1,2
VERSION 2024 ACTUAL EXAM
COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS)
|ALREADY GRADED A+.
VERSION 1
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
1/106
,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
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. - ANSWER-C.
Tangible property that includes land, structures permanently attached to
the land, and whatever is growing on the land.
2/106
,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 - 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 - ANSWER-A. Premises and
operations liability
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.
3/106
, 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
4/106
from the Course) NEWEST
COMBINED VERSION 1,2
VERSION 2024 ACTUAL EXAM
COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS)
|ALREADY GRADED A+.
VERSION 1
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
1/106
,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
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. - ANSWER-C.
Tangible property that includes land, structures permanently attached to
the land, and whatever is growing on the land.
2/106
,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 - 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 - ANSWER-A. Premises and
operations liability
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.
3/106
, 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
4/106
