AINS 103 Exam Questions with Correct Answers
Question 1:
Which one of the following best describes real property? Select one:
Property being shipped to or from others.
Business personal property that includes furniture, machinery and equipment, and
stock/inventory. Tangible property that includes land, structures permanently attached to the
land, and whatever is growing on the land.
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.
Question 2:
Select one:
Cost to rent temporary office space Insurance premiums
Debt repayments
Payroll of key employees
Answer:
A. Cost to rent temporary office space
Question 3:
Select one:
Premises and operations liability Personal and advertising injury liability
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
,Question 4:
Select one:
Premises and operations liability Personal and advertising injury liability
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
Absolute liabilityProducts and completed operations liability
property isAbsolute liabilityProducts and completed operations liability
property is
Absolute liability
Products and completed operations liability
property is
Absolute liability
Products and completed operations liability
property is
Question 5:
Select one:
Professional liability. Property liability.
Operations liability.
Premises and operations liability.
Answer:
D. Premises and operations liability.
Question 6:
Automobile liability exposures can result from Select one: Damage to or destruction of an
owned vehicle.
Loss of use of an owned automobile. Workers compensation laws.
Hiring or borrowing an automobile.
Answer:
D. Hiring or borrowing an automobile.
Question 7:
Select one:
Result from the employer's negligence Occur away from the regular work premises
Arise out of employees' job-related injuries and diseases Result in total disability
Answer:
C. Arise out of employees' job-related injuries and diseases
,Question 8:
Cyber risk intellectual property loss exposures include Select one: Cyber extortion of trade
secrets.
Personal and advertising injury liability.
Loss to tangible property. Property damage liability.
Answer:
A. Cyber extortion of trade secrets.Loss to tangible property. Property damage liability.
A. Cyber extortion of trade secrets.
Loss to tangible property. Property damage liability.
A. Cyber extortion of trade secrets.
Loss to tangible property. Property damage liability.
A. Cyber extortion of trade secrets.
Question 9:
Select one:
Two disgruntled employees use the computer system to transfer office funds into their own
personal bank accounts.
The computer system is hacked and data including credit card numbers are stolen. Thieves
break into the main office and steal several desktop computers.
There is a fire in the storage area which destroys the backup copy of the office computer
system.
Answer:
B. The computer system is hacked and data including credit card numbers are stolen.
Question 10:
Select one:
Business personal property Stock
Inventory Commercial property
Answer:
A. Business personal property
, Question 11:
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
Answer:
example of which one of the following types of commercial liability loss exposure for the
construction company?
example of which one of the following types of commercial liability loss exposure for the
construction company?
example of which one of the following types of commercial liability loss exposure for the
construction company?
example of which one of the following types of commercial liability loss exposure for the
construction company?
Question 12:
Select one:
Products liability
Premises and operations liability Completed operations liability Employers liability
Answer:
C. Completed operations liability
Question 13:
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
Joe Motors, which services automobiles, wants to maintain the goodwill of its customers. This is
best accomplished by
Question 14:
Select one:
Purchasing garage liability insurance. Purchasing garagekeepers insurance.
Lowering the physical damage deductible under its business auto insurance. Raising liability
limits under its business auto insurance.
Answer:
B. Purchasing garagekeepers insurance.
Question 1:
Which one of the following best describes real property? Select one:
Property being shipped to or from others.
Business personal property that includes furniture, machinery and equipment, and
stock/inventory. Tangible property that includes land, structures permanently attached to the
land, and whatever is growing on the land.
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.
Question 2:
Select one:
Cost to rent temporary office space Insurance premiums
Debt repayments
Payroll of key employees
Answer:
A. Cost to rent temporary office space
Question 3:
Select one:
Premises and operations liability Personal and advertising injury liability
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
,Question 4:
Select one:
Premises and operations liability Personal and advertising injury liability
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
Absolute liabilityProducts and completed operations liability
property isAbsolute liabilityProducts and completed operations liability
property is
Absolute liability
Products and completed operations liability
property is
Absolute liability
Products and completed operations liability
property is
Question 5:
Select one:
Professional liability. Property liability.
Operations liability.
Premises and operations liability.
Answer:
D. Premises and operations liability.
Question 6:
Automobile liability exposures can result from Select one: Damage to or destruction of an
owned vehicle.
Loss of use of an owned automobile. Workers compensation laws.
Hiring or borrowing an automobile.
Answer:
D. Hiring or borrowing an automobile.
Question 7:
Select one:
Result from the employer's negligence Occur away from the regular work premises
Arise out of employees' job-related injuries and diseases Result in total disability
Answer:
C. Arise out of employees' job-related injuries and diseases
,Question 8:
Cyber risk intellectual property loss exposures include Select one: Cyber extortion of trade
secrets.
Personal and advertising injury liability.
Loss to tangible property. Property damage liability.
Answer:
A. Cyber extortion of trade secrets.Loss to tangible property. Property damage liability.
A. Cyber extortion of trade secrets.
Loss to tangible property. Property damage liability.
A. Cyber extortion of trade secrets.
Loss to tangible property. Property damage liability.
A. Cyber extortion of trade secrets.
Question 9:
Select one:
Two disgruntled employees use the computer system to transfer office funds into their own
personal bank accounts.
The computer system is hacked and data including credit card numbers are stolen. Thieves
break into the main office and steal several desktop computers.
There is a fire in the storage area which destroys the backup copy of the office computer
system.
Answer:
B. The computer system is hacked and data including credit card numbers are stolen.
Question 10:
Select one:
Business personal property Stock
Inventory Commercial property
Answer:
A. Business personal property
, Question 11:
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
Answer:
example of which one of the following types of commercial liability loss exposure for the
construction company?
example of which one of the following types of commercial liability loss exposure for the
construction company?
example of which one of the following types of commercial liability loss exposure for the
construction company?
example of which one of the following types of commercial liability loss exposure for the
construction company?
Question 12:
Select one:
Products liability
Premises and operations liability Completed operations liability Employers liability
Answer:
C. Completed operations liability
Question 13:
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
Joe Motors, which services automobiles, wants to maintain the goodwill of its customers. This is
best accomplished by
Question 14:
Select one:
Purchasing garage liability insurance. Purchasing garagekeepers insurance.
Lowering the physical damage deductible under its business auto insurance. Raising liability
limits under its business auto insurance.
Answer:
B. Purchasing garagekeepers insurance.
