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AINS 103 Questions and Answers
Latest 2026
Commercial Property Declarations Includes :(4) Ans:
description of property, kinds of coverage/amts, optional
coverages
The Property forms includes: Ans: Insuring agreement,
dileneation of prop, additional coverages/extensions,
provisions and definitions...
Causes of Losses (3): Ans: Basic, broad, special
Conditions: Ans: shows obligations, lists rules
Endorsements: Ans: tailor coverage
Basic/Broad Contain: (6) Ans: fire, wind, explosion, hail,
smoke, sprinkler
Broad also has: Ans: weight of snow, falling sleet, water
damage
Special Ans: Open peril-must be specifically excluded
BPP Specific LIMITS Ans: seperate limits for each covered
asset
Blanket Limit Ans: one amount to all property
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Agreed Value Ans: Suspends % of total value of property
Inflation Guard Ans: increases limits annually by
declarations amount
RC Ans: Based on cost to replace-can be extended
Coinsurance Purpose Ans: So the insured doesn't sell
themselves short
Amount of insurance required= Ans: Coinsurance % x
Coinsurance Basis (Net Inc +operating expenses incurred
in absence f loss for 12 months)
Coverage A Ans: Bodily injury and property damage
Coverage B Ans: Personal and Advertising Injury Liability
(arrest, eviction, libel, slander, copyright)
Coverage C Ans: Medical Payments
Does CGL include Investigation Payments? Ans: Yes
What's on CGL coverage form? (6) Ans: Insured, limits,
definitions, conditions, triggers, endorsements
Insured CGL Ans: Spouses, enployees or volunteers,
landlors or legal rep, newly acquired business
Occurrnce Trigger Ans: Losses happening during policy
period trigger coverage
Claims Made Trigger Ans: can be filed during expiration...
© 2025 All rights reserved
AINS 103 Questions and Answers
Latest 2026
Commercial Property Declarations Includes :(4) Ans:
description of property, kinds of coverage/amts, optional
coverages
The Property forms includes: Ans: Insuring agreement,
dileneation of prop, additional coverages/extensions,
provisions and definitions...
Causes of Losses (3): Ans: Basic, broad, special
Conditions: Ans: shows obligations, lists rules
Endorsements: Ans: tailor coverage
Basic/Broad Contain: (6) Ans: fire, wind, explosion, hail,
smoke, sprinkler
Broad also has: Ans: weight of snow, falling sleet, water
damage
Special Ans: Open peril-must be specifically excluded
BPP Specific LIMITS Ans: seperate limits for each covered
asset
Blanket Limit Ans: one amount to all property
© 2025 All rights reserved
, 2 | Page
Agreed Value Ans: Suspends % of total value of property
Inflation Guard Ans: increases limits annually by
declarations amount
RC Ans: Based on cost to replace-can be extended
Coinsurance Purpose Ans: So the insured doesn't sell
themselves short
Amount of insurance required= Ans: Coinsurance % x
Coinsurance Basis (Net Inc +operating expenses incurred
in absence f loss for 12 months)
Coverage A Ans: Bodily injury and property damage
Coverage B Ans: Personal and Advertising Injury Liability
(arrest, eviction, libel, slander, copyright)
Coverage C Ans: Medical Payments
Does CGL include Investigation Payments? Ans: Yes
What's on CGL coverage form? (6) Ans: Insured, limits,
definitions, conditions, triggers, endorsements
Insured CGL Ans: Spouses, enployees or volunteers,
landlors or legal rep, newly acquired business
Occurrnce Trigger Ans: Losses happening during policy
period trigger coverage
Claims Made Trigger Ans: can be filed during expiration...
© 2025 All rights reserved
