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AINS 103 (Associate In General Insurance) Exam
2025/2026 QUESTIONS WITH 100% DETAILED
ANSWERS
The property covered under a BOP does not include:
aircraft
money & securities
upgrades due to local ordinances
contraband items
earthquake, nuclear hazards
water damage
war
loss of utility services
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Richard's Clothing Store has a $500,000 Business Income
(and Extra Expense) Coverage Form on which there is an
80 percent coinsurance clause. A fire swept through the
store. Richard's Clothing Store estimates that its net
income plus all operating expenses for the policy period
would have been $1,875,000. The estimated business
income loss is $300,000. How much will the insurer pay?
A. $100,000
B. $200,000
C. $300,000
D. $375,000 - ANSWER-A. $100,000
80% * $1,875,000
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= $1,500,000 Insurance req'd
$500,000 / $1,500,000
= 1/3 coinsurance factor
1/3 * $300,000
= $100,000 paid by the insurer
A customer shopping at Mitchell's Food Market dropped a
bottle of wine at the checkout counter. The bottle broke
and cut the customer's leg. The customer required some
minor medical attention and a few stitches. Which one of
the following coverages under Mitchell's Commercial
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General Liability (CGL) coverage form would pay for the
customer's expenses?
A. Medical payments coverage
B. Premises and operations liability coverage
C. Liquor liability coverage
D. Personal and advertising injury liability coverage -
ANSWER-A. Medical payments coverage
Under Coverage A of the commercial general liability
coverage form (CGL), property damage would include all
of the following, EXCEPT:
Select one:
A. Destruction of tangible property
AINS 103 (Associate In General Insurance) Exam
2025/2026 QUESTIONS WITH 100% DETAILED
ANSWERS
The property covered under a BOP does not include:
aircraft
money & securities
upgrades due to local ordinances
contraband items
earthquake, nuclear hazards
water damage
war
loss of utility services
,2|Page
Richard's Clothing Store has a $500,000 Business Income
(and Extra Expense) Coverage Form on which there is an
80 percent coinsurance clause. A fire swept through the
store. Richard's Clothing Store estimates that its net
income plus all operating expenses for the policy period
would have been $1,875,000. The estimated business
income loss is $300,000. How much will the insurer pay?
A. $100,000
B. $200,000
C. $300,000
D. $375,000 - ANSWER-A. $100,000
80% * $1,875,000
,3|Page
= $1,500,000 Insurance req'd
$500,000 / $1,500,000
= 1/3 coinsurance factor
1/3 * $300,000
= $100,000 paid by the insurer
A customer shopping at Mitchell's Food Market dropped a
bottle of wine at the checkout counter. The bottle broke
and cut the customer's leg. The customer required some
minor medical attention and a few stitches. Which one of
the following coverages under Mitchell's Commercial
, 4|Page
General Liability (CGL) coverage form would pay for the
customer's expenses?
A. Medical payments coverage
B. Premises and operations liability coverage
C. Liquor liability coverage
D. Personal and advertising injury liability coverage -
ANSWER-A. Medical payments coverage
Under Coverage A of the commercial general liability
coverage form (CGL), property damage would include all
of the following, EXCEPT:
Select one:
A. Destruction of tangible property
