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AINS 103 EXAM 2|| ACTUAL EXAM WITH 200+
QUESTIONJS AND CORRECT ANSWERS|| LATEST
AND COMPLETE VERSION 2024-2025 WITH
EXPERT VERIFIED SOLUTIONS|| ASSURED PASS!!!
Hank is a new commercial insurance producer. He is walking down the main street
of Springfield trying to determine which businesses might be eligible for the
businessowners policy (BOP) and which would not be eligible. Which one of the
following main street businesses would be ineligible for BOP coverage?
A. Kelly Plumbing
B. Springfield Bank
C. Ted's Coffee Shop
D. Rose's Dress Shop
B. Springfield Bank
Which one of the following is the first component of a businessowners policy
(BOP)?
A. Endorsements
B. Conditions
C. Coverage form
D. Declarations
D. Declarations
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Which one of the following is a category of business personal property?
A. Outdoor fixtures
B. Office equipment
C. Completed additions
D. Permanently installed equipment
B. Office equipment
The Neopolitan is insured under a businessowners policy (BOP) for both building
and business personal property. Which one of the following would be covered
under the definition of a building under The Neopolitan's BOP?
A. The security fence that surrounds the building
B. The outdoor lighting fixtures
C. The land that the building sits on
D. Permanently installed fixtures and improvements paid for by tenants
B. The outdoor lighting fixtures
Glorious Gifts is a retail store located in a shopping center along with four other
retail tenants. It is insured under a businessowners policy (BOP) with a $300,000
limit for Personal Property and a $1,000 deductible. One day during business
hours, a fire started in the pizza shop next door and spread to Glorious Gifts.
Everyone was able to escape safely, but Glorious Gifts suffered the following
damages: $75,000 in store merchandise, $10,000 in shelving units that had been
installed, a $3,000 computer, and $1,500 in cash. How much will the BOP insurer
pay?
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A. $77,000
B. $87,000
C. $88,000
D. $88,500
B. $87,000
While performing duties for the business, all of the following would be an insured
under Business Liability Coverage of a partnership's businessowners policy (BOP),
EXCEPT:
A. Employees
B. Stockholders
C. Partners
D. Spouses of the partners
B. Stockholders
Jack, a customer at Clark's Market, sued the grocery store for damages resulting
from bodily injury he sustained when he slipped and fell while shopping in the
produce area. Jack broke his elbow and suffered a back injury. Clark's Market is
insured under a businessowners policy (BOP) with a $300,000 liability and
medical expense limit of insurance. The insurer defended Clark's Market against
the suit, but the court awarded Jack $285,000 for his injury and a prejudgment
interest of $5,000. The insurer's cost of defending the grocery store was $20,000.
What is the total amount that the BOP insurer will pay for this claim?
AINS 103 EXAM 2|| ACTUAL EXAM WITH 200+
QUESTIONJS AND CORRECT ANSWERS|| LATEST
AND COMPLETE VERSION 2024-2025 WITH
EXPERT VERIFIED SOLUTIONS|| ASSURED PASS!!!
Hank is a new commercial insurance producer. He is walking down the main street
of Springfield trying to determine which businesses might be eligible for the
businessowners policy (BOP) and which would not be eligible. Which one of the
following main street businesses would be ineligible for BOP coverage?
A. Kelly Plumbing
B. Springfield Bank
C. Ted's Coffee Shop
D. Rose's Dress Shop
B. Springfield Bank
Which one of the following is the first component of a businessowners policy
(BOP)?
A. Endorsements
B. Conditions
C. Coverage form
D. Declarations
D. Declarations
,2|Pag e
Which one of the following is a category of business personal property?
A. Outdoor fixtures
B. Office equipment
C. Completed additions
D. Permanently installed equipment
B. Office equipment
The Neopolitan is insured under a businessowners policy (BOP) for both building
and business personal property. Which one of the following would be covered
under the definition of a building under The Neopolitan's BOP?
A. The security fence that surrounds the building
B. The outdoor lighting fixtures
C. The land that the building sits on
D. Permanently installed fixtures and improvements paid for by tenants
B. The outdoor lighting fixtures
Glorious Gifts is a retail store located in a shopping center along with four other
retail tenants. It is insured under a businessowners policy (BOP) with a $300,000
limit for Personal Property and a $1,000 deductible. One day during business
hours, a fire started in the pizza shop next door and spread to Glorious Gifts.
Everyone was able to escape safely, but Glorious Gifts suffered the following
damages: $75,000 in store merchandise, $10,000 in shelving units that had been
installed, a $3,000 computer, and $1,500 in cash. How much will the BOP insurer
pay?
, 3|Pag e
A. $77,000
B. $87,000
C. $88,000
D. $88,500
B. $87,000
While performing duties for the business, all of the following would be an insured
under Business Liability Coverage of a partnership's businessowners policy (BOP),
EXCEPT:
A. Employees
B. Stockholders
C. Partners
D. Spouses of the partners
B. Stockholders
Jack, a customer at Clark's Market, sued the grocery store for damages resulting
from bodily injury he sustained when he slipped and fell while shopping in the
produce area. Jack broke his elbow and suffered a back injury. Clark's Market is
insured under a businessowners policy (BOP) with a $300,000 liability and
medical expense limit of insurance. The insurer defended Clark's Market against
the suit, but the court awarded Jack $285,000 for his injury and a prejudgment
interest of $5,000. The insurer's cost of defending the grocery store was $20,000.
What is the total amount that the BOP insurer will pay for this claim?
