AINS 103 Questions and Answers Already Passed

AINS 103 Questions and Answers Already Passed Which one of the followin g 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 at tached to the land, and whatever is growing on the land. D. Vehicles, merchandise, furniture, tools, and similar items. ✔✔C. Tangible property that includes land, structures permanently attached to the land, and whatever is growing on the land. Extra expe nses 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. Insuran ce premiums C. Debt repayments D. Payroll of key employees ✔✔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 ✔✔A. Premises and operations li ability 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 property is Select one: A. Professional liabil ity. B. Property liability. C. Operations liability. D. Premises and operations liability. ✔✔D. Premises and operations liability . Automobile liability exposures can result from Select one: A. Damage to or destruction of an owned vehicle. B. Loss of use of an owned automobile. C. Workers compensation laws. D. Hiring or borrowing an automobile. ✔✔D. Hiring or borrowing an automobile. To be covered under a workers compensation statute, an injury or disease (in most states) must meet which on e of the following requirements? Select one: A. Result from the employer's negligence B. Occur away from the regular work premises C. Arise out of employees' job -related injuries and diseases D. Result in total disability ✔✔C. Arise out of employees' job -related injuries and diseases Cyber risk intellectual property loss exposures include Select one: A. Cyber extortion of trade secrets. B. Personal and advertising injury liability. C. Loss to tangible property. D. Property damage liability. ✔✔A. Cyber exto rtion of trade secrets. As part of its assessment of its cyber risk, an organization should consider whether there are any intangible property exposures. Which one of the following would best be classified as an intangible property loss? Select one: A. Tw o disgruntled employees use the computer system to transfer office funds into their own personal bank accounts. B. The computer system is hacked and data including credit card numbers are stolen. C. Thieves break into the main office and steal several desktop computers. D. There is a fire in the storage area which destroys the backup copy of the office computer system. ✔✔B. The computer system is hacked and data including credit card numbers are st olen. 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?