AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
, AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
1. Loss exposure Any condition or
situation that
presents a
possibility of loss,
whether or not an
actual loss occurs.
2. Property loss exposure A condition that
presents the
possibility that a
person or an
organization will
sustain a loss
resulting from
damage (including
destruction, taking,
or loss of use) to
property in which
that person or
organization has a
financial interest
3. Real property (Realty) Tangible property
consisting of land,
all structures
permanently
attached to the
land, and whatever
is growing on the
land
, AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
4. Personal property All tangible or
intangible property
that is not real
property (This
includes movable
items owned by a
business, such as
supplies, furniture,
computers,
machinery, tools,
and some vehicles
like forklifts)
5. Business personal property
6. Fixture Any personal
property affixed to
real property in
such a way as to
become part of the
real property
, AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
7. Money Currency, coins,
bank notes, and
sometimes
traveler's checks,
credit card slips,
and money orders
held for sale to the
public
8. Securities Wrriten
instruments
representing either
money or other
property, such as
stocks
9. Peril The cause of a loss
(potential causes of
a loss like fire,
theft, windstorm,
flood, earthquake,
terrorism,
vandalism, and
war)
10. Business income insurance Insurance that
covers the
reduction in an
organization's
income when op-
Stock, furniture,
fixtures, equipment
and machinery,
Study online at https://quizlet.com/_gdj58w
, AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
1. Loss exposure Any condition or
situation that
presents a
possibility of loss,
whether or not an
actual loss occurs.
2. Property loss exposure A condition that
presents the
possibility that a
person or an
organization will
sustain a loss
resulting from
damage (including
destruction, taking,
or loss of use) to
property in which
that person or
organization has a
financial interest
3. Real property (Realty) Tangible property
consisting of land,
all structures
permanently
attached to the
land, and whatever
is growing on the
land
, AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
4. Personal property All tangible or
intangible property
that is not real
property (This
includes movable
items owned by a
business, such as
supplies, furniture,
computers,
machinery, tools,
and some vehicles
like forklifts)
5. Business personal property
6. Fixture Any personal
property affixed to
real property in
such a way as to
become part of the
real property
, AINS 103 Exam Prep 2026/2027
Study online at https://quizlet.com/_gdj58w
7. Money Currency, coins,
bank notes, and
sometimes
traveler's checks,
credit card slips,
and money orders
held for sale to the
public
8. Securities Wrriten
instruments
representing either
money or other
property, such as
stocks
9. Peril The cause of a loss
(potential causes of
a loss like fire,
theft, windstorm,
flood, earthquake,
terrorism,
vandalism, and
war)
10. Business income insurance Insurance that
covers the
reduction in an
organization's
income when op-
Stock, furniture,
fixtures, equipment
and machinery,
