AINS103 Practice Questions, AINS 103 2025 LATEST UPDATED 500
ACTUAL EXAM QUESTIONS WITH 100% RATED CORRECT ANSWERS
100% VERIFIED GET A+
In property insurance, the term "Property in Transit" refers to which one of the following? -
(Correct Answer)Property while being transported by trucks, cars, buses, trains, airplanes, and
ships.
Extra expenses 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? - (Correct Answer)Cost to rent temporary office space.
Upon entering a restaurant, a customer grasped a handrail the broke off, causing the customer to
fall and break his wrist. This is an心的坚强决定了我们的命运。当
example of which one of the following types of commercial
general liability loss? - (Correct Answer)Premises and operations liability.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
A contractor is hired to install a new concrete sidewalk in front of a store. Several weeks after the
sidewalk was installed, the concrete buckles and a passerby trips and falls on the buckled
sidewalk. The passerby sues the contractor to recover medical expenses incurred due to the fall.
This commercial liability is categorized as - (Correct Answer)Completed operations liability.
A carrier that is prevented by an accident from delivering the cargo aboard its ship may face an
exposure called loss of freight, which is - (Correct Answer)The compensation the carrier receives
for transporting cargo.
The management of Maryland Marine Co. (MMC) must ensure that proper coverage is obtained
for work- related injuries. The employee population of MMC is a mixture of full-time and part-
time employees as well as some casual employees for one-time tasks. Much of MMC's work is
done by independent contractors and temporary employees during peak seasons. Which one of
the following statements about these persons is true? - (Correct Answer)Many states workers
compensation statutes exclude casual labor (temporary employees).
,When a clothing manufacturer decides to expand the sale of its clothing line by offering internet
purchases, it creates new exposures not otherwise covered, or not fully covered, by a traditional
policy. These include - (Correct Answer)Loss or damage caused by computer virsuses.
Meat Products Company (MPC) runs packing plants in three Midwest states. The company was
in the news recently because of its labor practices. The Department of Labor (DOL) investigated
complaints from five female employees that MPC discriminated against them. The DOL found
the claim was true. The Immigration and Naturalization Service (INS) found that the company
employed illegal immigrants and paid them less than the minimum wage. When this news
became public, MPC's reputation was severely harmed. This scenario illustrates which source of
reputation risk - (Correct Answer)Regulatory and legal compliance.
Perils are an important aspect of property insurance. Which one of the following statements is
correct with respect to perils? - (Correct Answer)A peril is the actual means by which property is
damaged or destroyed such as fire, lightning, windstorm, hail or theft.
心的坚强决定了我们的命运。当
During a business interruption, some of the organizations expenses, called continuing expenses,
我们面对挫折时，是一颗不屈的
will continue, and other expenses, called non-continuing expenses, will not continue. Which one
of the following is an example of 心让我们勇敢前行
a continuing expense? - (Correct Answer)Payroll of key
employees.
Which one of the following loss exposure exist when a business can be held legally liable for
bodily injury or property damaged caused by their repair or contracting work? - (Correct
Answer)Completed operations liability.
Which one of the following entities would likely have the greatest completed operations loss
exposure? - (Correct Answer)Paul the plumber.
Inland marine insurance is insurance that covers - (Correct Answer)Many different classes of
property that typically involve an element of transportation on land.
Joe signs a contract with Home Builders to install the electrical wiring for a new home. He uses
his own tools and follows the specifications in the contract. Joe is burned while installing the
,wiring. Does Home Builders' workers compensation policy cover Joe's injury? - (Correct
Answer)No, because Joe is not an employee of Home Builders.
Cyber risk intellectual property loss exposures include - (Correct Answer)Cyber extortion 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? - (Correct Answer)The computer system is hacked and data including
credit card numbers are stolen.
Property insurance policies use the term "personal property" to refer to the - (Correct
Answer)Contents in and around a building.
In business income insurance, the心的坚强决定了我们的命运。当
expenses that an organization would not have incurred if the
business interruption have not occurred are called - (Correct Answer)Extra expenses.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
Radley Contracting Company is installing new signage on the front of a building. George, a
passerby walking near the building is injured when a Radley employee accidentally drops a tool
from a crane. George likely has the ability to assert which one the following types of claim? -
(Correct Answer)Premises and operations liability.
John purchased a new lawnmower two years ago. After significant use, the lawnmower needed
servicing. A repairman sharpened the blade but he failed to reattach it properly to the
lawnmower. When John was using the lawnmower, the blade flew off and seriously injured
John's daughter. From the standpoint of a commercial liability loss for the repair shop, this is an
example of - (Correct Answer)Completed operations liability.
Automobile liability exposures can result from - (Correct Answer)Hiring or borrowing an
automobile.
, Workers compensation benefits include which one of the following? - (Correct
Answer)Rehabilitation Benefits.
The unauthorized intrusion into a company's computer network resulting in damage to
intellectual property is best classified as which one of the following types of cyber liability
exposures? - (Correct Answer)Intangible property.
An email was sent to a company's employee containing a harmful attachment. Several employees
opened the attachment which allowed hackers to obtain customer contact information. This cyber
risk loss is - (Correct Answer)Damage to intangible property.
Which one of the following best describes real property? - (Correct Answer)Tangible property
that include land, structures permanently attached to the land, and whatever is growing on the
land.
心的坚强决定了我们的命运。当
Which one of the following is an example of injury or damage arising from an occurrence that
我们面对挫折时，是一颗不屈的
would be covered by the products and completed operations liability portion of the Commercial
General Liability (CGL) Coverage心让我们勇敢前行
Form? - (Correct Answer)A defective gas range manufactured
by the insured explodes causing injury.
A building contractor uses lower grade materials than called for in the specifications for an office
building. A year after the building was completed, a balcony collapses, injuring several
employees and customers and causing damage to the building and contents. For the building
construction company, this is an example of - (Correct Answer)A completed operations liability
exposure.
To be covered under a workers compensation statute, an injury or disease (in most states) must
meet which one of the following requirements? - (Correct Answer)Arise out of employees job-
related injuries and diseases.
Which one of the following supply chain exposures can a business mitigate by carefully wording
contracts and diversifying suppliers? - (Correct Answer)Loss of supply due to external events.
ACTUAL EXAM QUESTIONS WITH 100% RATED CORRECT ANSWERS
100% VERIFIED GET A+
In property insurance, the term "Property in Transit" refers to which one of the following? -
(Correct Answer)Property while being transported by trucks, cars, buses, trains, airplanes, and
ships.
Extra expenses 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? - (Correct Answer)Cost to rent temporary office space.
Upon entering a restaurant, a customer grasped a handrail the broke off, causing the customer to
fall and break his wrist. This is an心的坚强决定了我们的命运。当
example of which one of the following types of commercial
general liability loss? - (Correct Answer)Premises and operations liability.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
A contractor is hired to install a new concrete sidewalk in front of a store. Several weeks after the
sidewalk was installed, the concrete buckles and a passerby trips and falls on the buckled
sidewalk. The passerby sues the contractor to recover medical expenses incurred due to the fall.
This commercial liability is categorized as - (Correct Answer)Completed operations liability.
A carrier that is prevented by an accident from delivering the cargo aboard its ship may face an
exposure called loss of freight, which is - (Correct Answer)The compensation the carrier receives
for transporting cargo.
The management of Maryland Marine Co. (MMC) must ensure that proper coverage is obtained
for work- related injuries. The employee population of MMC is a mixture of full-time and part-
time employees as well as some casual employees for one-time tasks. Much of MMC's work is
done by independent contractors and temporary employees during peak seasons. Which one of
the following statements about these persons is true? - (Correct Answer)Many states workers
compensation statutes exclude casual labor (temporary employees).
,When a clothing manufacturer decides to expand the sale of its clothing line by offering internet
purchases, it creates new exposures not otherwise covered, or not fully covered, by a traditional
policy. These include - (Correct Answer)Loss or damage caused by computer virsuses.
Meat Products Company (MPC) runs packing plants in three Midwest states. The company was
in the news recently because of its labor practices. The Department of Labor (DOL) investigated
complaints from five female employees that MPC discriminated against them. The DOL found
the claim was true. The Immigration and Naturalization Service (INS) found that the company
employed illegal immigrants and paid them less than the minimum wage. When this news
became public, MPC's reputation was severely harmed. This scenario illustrates which source of
reputation risk - (Correct Answer)Regulatory and legal compliance.
Perils are an important aspect of property insurance. Which one of the following statements is
correct with respect to perils? - (Correct Answer)A peril is the actual means by which property is
damaged or destroyed such as fire, lightning, windstorm, hail or theft.
心的坚强决定了我们的命运。当
During a business interruption, some of the organizations expenses, called continuing expenses,
我们面对挫折时，是一颗不屈的
will continue, and other expenses, called non-continuing expenses, will not continue. Which one
of the following is an example of 心让我们勇敢前行
a continuing expense? - (Correct Answer)Payroll of key
employees.
Which one of the following loss exposure exist when a business can be held legally liable for
bodily injury or property damaged caused by their repair or contracting work? - (Correct
Answer)Completed operations liability.
Which one of the following entities would likely have the greatest completed operations loss
exposure? - (Correct Answer)Paul the plumber.
Inland marine insurance is insurance that covers - (Correct Answer)Many different classes of
property that typically involve an element of transportation on land.
Joe signs a contract with Home Builders to install the electrical wiring for a new home. He uses
his own tools and follows the specifications in the contract. Joe is burned while installing the
,wiring. Does Home Builders' workers compensation policy cover Joe's injury? - (Correct
Answer)No, because Joe is not an employee of Home Builders.
Cyber risk intellectual property loss exposures include - (Correct Answer)Cyber extortion 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? - (Correct Answer)The computer system is hacked and data including
credit card numbers are stolen.
Property insurance policies use the term "personal property" to refer to the - (Correct
Answer)Contents in and around a building.
In business income insurance, the心的坚强决定了我们的命运。当
expenses that an organization would not have incurred if the
business interruption have not occurred are called - (Correct Answer)Extra expenses.
我们面对挫折时，是一颗不屈的
心让我们勇敢前行
Radley Contracting Company is installing new signage on the front of a building. George, a
passerby walking near the building is injured when a Radley employee accidentally drops a tool
from a crane. George likely has the ability to assert which one the following types of claim? -
(Correct Answer)Premises and operations liability.
John purchased a new lawnmower two years ago. After significant use, the lawnmower needed
servicing. A repairman sharpened the blade but he failed to reattach it properly to the
lawnmower. When John was using the lawnmower, the blade flew off and seriously injured
John's daughter. From the standpoint of a commercial liability loss for the repair shop, this is an
example of - (Correct Answer)Completed operations liability.
Automobile liability exposures can result from - (Correct Answer)Hiring or borrowing an
automobile.
, Workers compensation benefits include which one of the following? - (Correct
Answer)Rehabilitation Benefits.
The unauthorized intrusion into a company's computer network resulting in damage to
intellectual property is best classified as which one of the following types of cyber liability
exposures? - (Correct Answer)Intangible property.
An email was sent to a company's employee containing a harmful attachment. Several employees
opened the attachment which allowed hackers to obtain customer contact information. This cyber
risk loss is - (Correct Answer)Damage to intangible property.
Which one of the following best describes real property? - (Correct Answer)Tangible property
that include land, structures permanently attached to the land, and whatever is growing on the
land.
心的坚强决定了我们的命运。当
Which one of the following is an example of injury or damage arising from an occurrence that
我们面对挫折时，是一颗不屈的
would be covered by the products and completed operations liability portion of the Commercial
General Liability (CGL) Coverage心让我们勇敢前行
Form? - (Correct Answer)A defective gas range manufactured
by the insured explodes causing injury.
A building contractor uses lower grade materials than called for in the specifications for an office
building. A year after the building was completed, a balcony collapses, injuring several
employees and customers and causing damage to the building and contents. For the building
construction company, this is an example of - (Correct Answer)A completed operations liability
exposure.
To be covered under a workers compensation statute, an injury or disease (in most states) must
meet which one of the following requirements? - (Correct Answer)Arise out of employees job-
related injuries and diseases.
Which one of the following supply chain exposures can a business mitigate by carefully wording
contracts and diversifying suppliers? - (Correct Answer)Loss of supply due to external events.
