AINS 103 STUDY EXAMS GUIDE ALL QUESTIONS
AND ANSWERS RATED A+
✔✔Cyber risk - ✔✔The possibility that data will end up in the possession of a party who
is not authorized to have that data and who can use it in a manner that is harmful to the
individual or organization that is the subject of the data and/or the party that collected
and stored the data.
✔✔Leased workers - ✔✔Workers provided by a business, whose primary job is to
provide such workers, to another business.
✔✔Employee leasing - ✔✔An arrangement in which a third party provides a firm with
employees for a fee.
✔✔Independent contractor - ✔✔A person (or organization) hired to perform services
without being subject to the hirer's direction and control regarding work details.
✔✔Employee - ✔✔A person who is (1) currently employed by the insured or an ex-
employee terminated within the past 30 days; (2) compensated by the insured by salary,
wages, or commissions; and (3) subject to the control and direction of the insured.
✔✔Occupational disease - ✔✔Disease thought to be caused by work or the work
environment.
✔✔Workers compensation statute - ✔✔A statute that obligates employers, regardless of
fault, to pay specified medical, disability, rehabilitation, and death benefits for their
employees' job-related injuries and diseases.
✔✔Workers compensation - ✔✔A system that pays lost wages, medical and vocational
rehabilitation expenses, and death benefits to injured workers or their dependents for
employment-related injuries and diseases.
, ✔✔Ocean marine insurance - ✔✔Insurance that covers vessels and their cargoes,
including various vessel-related liability exposures.
✔✔Marine insurance - ✔✔Insurance that, in the U.S., includes both ocean and inland
marine coverage and, in the rest of the world, is limited to insurance for vessels and
cargo.
✔✔Personal loss exposure - ✔✔Any condition or situation that presents the possibility
of a financial loss to an individual or a family by such causes as death, sickness, injury,
or unemployment.
✔✔Liability loss exposure - ✔✔Any condition or situation that presents the possibility of
a claim alleging legal responsibility of a person or business for injury or damage
suffered by another party.
✔✔Liability - ✔✔A legal responsibility for the consequences of an act or omission.
✔✔Continuing expenses - ✔✔Expenses that continue to be incurred during a business
interruption.
✔✔Profit - ✔✔Net income that results when revenues exceed expenses.
✔✔Peril - ✔✔The cause of a loss.
✔✔Securities - ✔✔Written instruments representing either money or other property,
such as stocks and bonds.
✔✔Money - ✔✔Currency, coins, bank notes, and sometimes traveler's checks, credit
card slips, and money orders held for sale to the public.
✔✔Fixture - ✔✔Any personal property affixed to real property in such a way as to
become part of the real property.
✔✔Personal property - ✔✔All tangible or intangible property that is not real property.
✔✔Real property (realty) - ✔✔Tangible property consisting of land, all structures
permanently attached to the land, and whatever is growing on the land.
✔✔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.
✔✔ Social network analysis - ✔✔The study of the connections and relationships among
people in a network.
AND ANSWERS RATED A+
✔✔Cyber risk - ✔✔The possibility that data will end up in the possession of a party who
is not authorized to have that data and who can use it in a manner that is harmful to the
individual or organization that is the subject of the data and/or the party that collected
and stored the data.
✔✔Leased workers - ✔✔Workers provided by a business, whose primary job is to
provide such workers, to another business.
✔✔Employee leasing - ✔✔An arrangement in which a third party provides a firm with
employees for a fee.
✔✔Independent contractor - ✔✔A person (or organization) hired to perform services
without being subject to the hirer's direction and control regarding work details.
✔✔Employee - ✔✔A person who is (1) currently employed by the insured or an ex-
employee terminated within the past 30 days; (2) compensated by the insured by salary,
wages, or commissions; and (3) subject to the control and direction of the insured.
✔✔Occupational disease - ✔✔Disease thought to be caused by work or the work
environment.
✔✔Workers compensation statute - ✔✔A statute that obligates employers, regardless of
fault, to pay specified medical, disability, rehabilitation, and death benefits for their
employees' job-related injuries and diseases.
✔✔Workers compensation - ✔✔A system that pays lost wages, medical and vocational
rehabilitation expenses, and death benefits to injured workers or their dependents for
employment-related injuries and diseases.
, ✔✔Ocean marine insurance - ✔✔Insurance that covers vessels and their cargoes,
including various vessel-related liability exposures.
✔✔Marine insurance - ✔✔Insurance that, in the U.S., includes both ocean and inland
marine coverage and, in the rest of the world, is limited to insurance for vessels and
cargo.
✔✔Personal loss exposure - ✔✔Any condition or situation that presents the possibility
of a financial loss to an individual or a family by such causes as death, sickness, injury,
or unemployment.
✔✔Liability loss exposure - ✔✔Any condition or situation that presents the possibility of
a claim alleging legal responsibility of a person or business for injury or damage
suffered by another party.
✔✔Liability - ✔✔A legal responsibility for the consequences of an act or omission.
✔✔Continuing expenses - ✔✔Expenses that continue to be incurred during a business
interruption.
✔✔Profit - ✔✔Net income that results when revenues exceed expenses.
✔✔Peril - ✔✔The cause of a loss.
✔✔Securities - ✔✔Written instruments representing either money or other property,
such as stocks and bonds.
✔✔Money - ✔✔Currency, coins, bank notes, and sometimes traveler's checks, credit
card slips, and money orders held for sale to the public.
✔✔Fixture - ✔✔Any personal property affixed to real property in such a way as to
become part of the real property.
✔✔Personal property - ✔✔All tangible or intangible property that is not real property.
✔✔Real property (realty) - ✔✔Tangible property consisting of land, all structures
permanently attached to the land, and whatever is growing on the land.
✔✔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.
✔✔ Social network analysis - ✔✔The study of the connections and relationships among
people in a network.
