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AINS 103 (Associate In General Insurance) Exam
2025/2026 QUESTIONS WITH 100% DETAILED
ANSWERS
Which one of the following statements about excess
liability insurance coverage and umbrella liability insurance
coverage is most accurate?
A. Both excess liability policies and umbrella liability
policies typically provide primary coverage for certain
types of losses not covered by underlying insurance.
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B. Neither excess liability policies nor umbrella liability
policies would provide primary coverage for a loss unless
it was already covered by a primary insurance policy.
C. Umbrella liability policies typically provide primary
coverage for certain types of losses not covered by
underlying insurance, while excess liability policies
typically do not.
D. Excess liability policies typically provide primary
coverage for certain types of losses not covered by
underlying insurance, while umbrella liability policies
typically do not. - ANSWER-C. Umbrella liability policies
typically provide primary coverage for certain types of
losses not covered by underlying insurance, while excess
liability policies typically do not.
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There are several types of breakdown losses to fired
pressure vessels. Which one of the following is an
example of this type of loss?
A. Bulging
B. Shorting of windings
C. Moisture excess
D. Electrical disturbance - ANSWER-A. Bulging
Policies for the crime loss exposure for financial
institutions are called "bonds" because
A. Employee dishonesty, a key coverage, was traditionally
called a "fidelity bond."
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B. Many insurers have developed their own forms.
C. They do not resemble typical insurance policies.
D. Forgery or alteration, a key coverage, was traditionally
called a "fidelity bond." - ANSWER-A. Employee
dishonesty, a key coverage, was traditionally called a
"fidelity bond."
The Crime coverage form that covers losses occurring
during the policy period and discovered no later than 1
year after the policy expiration is
a. Discovery Form
b. Loss Sustained Form - ANSWER-b. Loss Sustained
Form
AINS 103 (Associate In General Insurance) Exam
2025/2026 QUESTIONS WITH 100% DETAILED
ANSWERS
Which one of the following statements about excess
liability insurance coverage and umbrella liability insurance
coverage is most accurate?
A. Both excess liability policies and umbrella liability
policies typically provide primary coverage for certain
types of losses not covered by underlying insurance.
,2|Page
B. Neither excess liability policies nor umbrella liability
policies would provide primary coverage for a loss unless
it was already covered by a primary insurance policy.
C. Umbrella liability policies typically provide primary
coverage for certain types of losses not covered by
underlying insurance, while excess liability policies
typically do not.
D. Excess liability policies typically provide primary
coverage for certain types of losses not covered by
underlying insurance, while umbrella liability policies
typically do not. - ANSWER-C. Umbrella liability policies
typically provide primary coverage for certain types of
losses not covered by underlying insurance, while excess
liability policies typically do not.
,3|Page
There are several types of breakdown losses to fired
pressure vessels. Which one of the following is an
example of this type of loss?
A. Bulging
B. Shorting of windings
C. Moisture excess
D. Electrical disturbance - ANSWER-A. Bulging
Policies for the crime loss exposure for financial
institutions are called "bonds" because
A. Employee dishonesty, a key coverage, was traditionally
called a "fidelity bond."
, 4|Page
B. Many insurers have developed their own forms.
C. They do not resemble typical insurance policies.
D. Forgery or alteration, a key coverage, was traditionally
called a "fidelity bond." - ANSWER-A. Employee
dishonesty, a key coverage, was traditionally called a
"fidelity bond."
The Crime coverage form that covers losses occurring
during the policy period and discovered no later than 1
year after the policy expiration is
a. Discovery Form
b. Loss Sustained Form - ANSWER-b. Loss Sustained
Form
