AINS 103 Questions with CORRECT Answers
Question:
Business Owners Policy (BOP):
Answer:
Designed for small to midsize businesses.
Question:
Risk Categories Generally Eligible for BOP coverage:
Answer:
Apartment Buildings.
Question:
-Office Buildings. -Contractors. -Small Businesses. -Restaurants. -Motels. Apartment
Buildings (BOP Coverage Limits):
Answer:
May not be able to exceed a certain number of floors or units.
Question:
Office Buildings (BOP Coverage Limits):
Answer:
May not be able to exceed a certain number of floors or total floor area.
Question:
Contractors (BOP Coverage Limits):
Answer:
May only be eligible up to a certain amount of receipts and payroll. General contractors
and hazardous trades are usually ineligible.
Question:
Small Businesses (BOP Coverage Limits):
Answer:
This category includes retail, wholesale, service, or processing buildings and personal
property that does not exceed a specified total floor area.
, Question:
Restauraunts (BOP Coverage Limits):
Answer:
BOPs are often available for fast food restaurants and restaurants with limited cooking
facilities that do not exceed a certain total floor area and seating capacity. Restrictions
on liquor apply.
Question:
Motels (BOP Coverage Limits):
Answer:
There may be a limit of three stories in height. Integrated bars and seasonal operations
are usually ineligible.
Question:
Because of their loss exposures, certain types of risks generally are not eligible for BOP
coverage, such as:
Answer:
Automobile businesses such as dealers, repair shops and parking garages.
Question:
-Bars and pubs. -Most manufacturing firms. -One or two-family dwellings other than
multiple-unit garden apartment complexes. -Amusement parks, arcades and bowling
alleys. -Financial Institutions. Lauren owns a small flower shop. What type of policy
would be best for her business?
Answer:
A business owners policy (BOP) is designed for small to midsize businesses, so it would
be appropriate for the business.
Question:
Janet is a small business owner who has purchased a BOP. What additional policy would
Janet need to purchase in order to cover loss exposures resulting from her employees
injuring themselves on the job?
Answer:
Workers Compensation Policy.
Question:
Business Owners Policy (BOP):
Answer:
Designed for small to midsize businesses.
Question:
Risk Categories Generally Eligible for BOP coverage:
Answer:
Apartment Buildings.
Question:
-Office Buildings. -Contractors. -Small Businesses. -Restaurants. -Motels. Apartment
Buildings (BOP Coverage Limits):
Answer:
May not be able to exceed a certain number of floors or units.
Question:
Office Buildings (BOP Coverage Limits):
Answer:
May not be able to exceed a certain number of floors or total floor area.
Question:
Contractors (BOP Coverage Limits):
Answer:
May only be eligible up to a certain amount of receipts and payroll. General contractors
and hazardous trades are usually ineligible.
Question:
Small Businesses (BOP Coverage Limits):
Answer:
This category includes retail, wholesale, service, or processing buildings and personal
property that does not exceed a specified total floor area.
, Question:
Restauraunts (BOP Coverage Limits):
Answer:
BOPs are often available for fast food restaurants and restaurants with limited cooking
facilities that do not exceed a certain total floor area and seating capacity. Restrictions
on liquor apply.
Question:
Motels (BOP Coverage Limits):
Answer:
There may be a limit of three stories in height. Integrated bars and seasonal operations
are usually ineligible.
Question:
Because of their loss exposures, certain types of risks generally are not eligible for BOP
coverage, such as:
Answer:
Automobile businesses such as dealers, repair shops and parking garages.
Question:
-Bars and pubs. -Most manufacturing firms. -One or two-family dwellings other than
multiple-unit garden apartment complexes. -Amusement parks, arcades and bowling
alleys. -Financial Institutions. Lauren owns a small flower shop. What type of policy
would be best for her business?
Answer:
A business owners policy (BOP) is designed for small to midsize businesses, so it would
be appropriate for the business.
Question:
Janet is a small business owner who has purchased a BOP. What additional policy would
Janet need to purchase in order to cover loss exposures resulting from her employees
injuring themselves on the job?
Answer:
Workers Compensation Policy.
