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AINS 103 EXAM REVIEW|| LATELY UPDATED 2025
QUESTIONS AND 100% CORRECT ANSWERS
ALREADY GRADED A+|| LATEST AND COMPLETE
UPDATE 2025 WITH VERIFIED SOLUTIONS||
GUARANTEED PASS!!
The liability loss exposure that exists when an organization is legally responsible
for bodily injury or property damage caused by an accident that occurs on an
organization's owned, leased, or rented property is
Select one:
A. Professional liability.
B. Property liability.
C. Operations liability.
D. Premises and operations liability. ANSWER- D. Premises and operations
liability.
Automobile liability exposures can result from Select one:
A. Damage to or destruction of an owned vehicle.
B. Loss of use of an owned automobile.
C. Workers compensation laws.
D. Hiring or borrowing an automobile. ANSWER- D. Hiring or borrowing an
automobile.
To be covered under a workers compensation statute, an injury or disease (in most
states) must meet which one of the following requirements?
Select one:
A. Result from the employer's negligence
B. Occur away from the regular work premises
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C. Arise out of employees' job-related injuries and diseases
D. Result in total disability ANSWER- C. Arise out of employees' job-related
injuries and diseases
Cyber risk intellectual property loss exposures include Select one:
A. Cyber extortion of trade secrets.
B. Personal and advertising injury liability.
C. Loss to tangible property.
D. Property damage liability. ANSWER- A. Cyber extortion of trade secrets.
The extent of an organization's product of human intelligence that has economic
value refers to which one of the following?
Select one:
A. Business income
B. Intellectual property
C. Personal property
D. Real property ANSWER- B. Intellectual property
Renata owns a valuable antique sculpture by a famous artist. One day she
accidentally dropped the sculpture and a piece of it broke off. Renata took the
sculpture to an art restorer, who reattached the broken piece and repaired the
surface. From a distance, the statue looks the same as it did before Renata dropped
it, but a close inspection reveals the repair. Which one of the following best
describes the financial consequences of the accident?
Select one:
A. There are no financial consequences because the piece looks the same as it
did before the accident.
B. The financial consequences include the cost of the repair and the reduction
in value resulting from the repaired damage.
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C. Renata has incurred a total loss because original artwork is impossible to
replace.
D. The only financial consequence of the accident is the money Renata paid the
art restorer for the repair. ANSWER- B. The financial consequences include the
cost of the repair and the reduction in value resulting from the repaired damage.
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?
Select one:
A. Two disgruntled employees use the computer system to transfer office funds
into their own personal bank accounts.
B. The computer system is hacked and data including credit card numbers are
stolen.
C. Thieves break into the main office and steal several desktop computers.
D. There is a fire in the storage area which destroys the backup copy of the
office computer system. ANSWER- B. The computer system is hacked and data
including credit card numbers are stolen.
A commercial building may contain furniture, machinery and equipment and
finished products. Which one of the following is the term generally used in
property insurance policies to refer to all these types of property?
Select one:
A. Business personal property
B. Stock
C. Inventory
D. Commercial property ANSWER- A. Business personal property
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A family recently purchased a new home constructed by a residential home
builder. Two months after taking possession, several of the family members were
injured when the roof suddenly collapsed. The family sued the construction
company and was awarded monetary damages for their injuries. This is an example
of which one of the following types of commercial liability loss exposure for the
construction company?
Select one:
A. Products liability
B. Premises and operations liability
C. Completed operations liability
D. Employers liability ANSWER- C. Completed operations liability
Which one of the following is an example of injury or damage arising from an
occurrence that would be covered by the products and completed operations
liability portion of the Commercial General Liability (CGL) Coverage Form?
Select one:
A. A defective gas range manufactured by the insured explodes causing injury.
B. A customer's house is set on fire while the insured is doing plumbing work.
C. A dissatisfied customer sues an insured for slander.
D. A customer is injured when she slips on a wet floor in a store. ANSWER-
A. A defective gas range manufactured by the insured explodes causing injury
Joe Motors, which services automobiles, wants to maintain the goodwill of its
customers. This is best accomplished by
Select one:
A. Purchasing garage liability insurance.
B. Purchasing garagekeepers insurance.
AINS 103 EXAM REVIEW|| LATELY UPDATED 2025
QUESTIONS AND 100% CORRECT ANSWERS
ALREADY GRADED A+|| LATEST AND COMPLETE
UPDATE 2025 WITH VERIFIED SOLUTIONS||
GUARANTEED PASS!!
The liability loss exposure that exists when an organization is legally responsible
for bodily injury or property damage caused by an accident that occurs on an
organization's owned, leased, or rented property is
Select one:
A. Professional liability.
B. Property liability.
C. Operations liability.
D. Premises and operations liability. ANSWER- D. Premises and operations
liability.
Automobile liability exposures can result from Select one:
A. Damage to or destruction of an owned vehicle.
B. Loss of use of an owned automobile.
C. Workers compensation laws.
D. Hiring or borrowing an automobile. ANSWER- D. Hiring or borrowing an
automobile.
To be covered under a workers compensation statute, an injury or disease (in most
states) must meet which one of the following requirements?
Select one:
A. Result from the employer's negligence
B. Occur away from the regular work premises
,2|Page
C. Arise out of employees' job-related injuries and diseases
D. Result in total disability ANSWER- C. Arise out of employees' job-related
injuries and diseases
Cyber risk intellectual property loss exposures include Select one:
A. Cyber extortion of trade secrets.
B. Personal and advertising injury liability.
C. Loss to tangible property.
D. Property damage liability. ANSWER- A. Cyber extortion of trade secrets.
The extent of an organization's product of human intelligence that has economic
value refers to which one of the following?
Select one:
A. Business income
B. Intellectual property
C. Personal property
D. Real property ANSWER- B. Intellectual property
Renata owns a valuable antique sculpture by a famous artist. One day she
accidentally dropped the sculpture and a piece of it broke off. Renata took the
sculpture to an art restorer, who reattached the broken piece and repaired the
surface. From a distance, the statue looks the same as it did before Renata dropped
it, but a close inspection reveals the repair. Which one of the following best
describes the financial consequences of the accident?
Select one:
A. There are no financial consequences because the piece looks the same as it
did before the accident.
B. The financial consequences include the cost of the repair and the reduction
in value resulting from the repaired damage.
,3|Page
C. Renata has incurred a total loss because original artwork is impossible to
replace.
D. The only financial consequence of the accident is the money Renata paid the
art restorer for the repair. ANSWER- B. The financial consequences include the
cost of the repair and the reduction in value resulting from the repaired damage.
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?
Select one:
A. Two disgruntled employees use the computer system to transfer office funds
into their own personal bank accounts.
B. The computer system is hacked and data including credit card numbers are
stolen.
C. Thieves break into the main office and steal several desktop computers.
D. There is a fire in the storage area which destroys the backup copy of the
office computer system. ANSWER- B. The computer system is hacked and data
including credit card numbers are stolen.
A commercial building may contain furniture, machinery and equipment and
finished products. Which one of the following is the term generally used in
property insurance policies to refer to all these types of property?
Select one:
A. Business personal property
B. Stock
C. Inventory
D. Commercial property ANSWER- A. Business personal property
, 4|Page
A family recently purchased a new home constructed by a residential home
builder. Two months after taking possession, several of the family members were
injured when the roof suddenly collapsed. The family sued the construction
company and was awarded monetary damages for their injuries. This is an example
of which one of the following types of commercial liability loss exposure for the
construction company?
Select one:
A. Products liability
B. Premises and operations liability
C. Completed operations liability
D. Employers liability ANSWER- C. Completed operations liability
Which one of the following is an example of injury or damage arising from an
occurrence that would be covered by the products and completed operations
liability portion of the Commercial General Liability (CGL) Coverage Form?
Select one:
A. A defective gas range manufactured by the insured explodes causing injury.
B. A customer's house is set on fire while the insured is doing plumbing work.
C. A dissatisfied customer sues an insured for slander.
D. A customer is injured when she slips on a wet floor in a store. ANSWER-
A. A defective gas range manufactured by the insured explodes causing injury
Joe Motors, which services automobiles, wants to maintain the goodwill of its
customers. This is best accomplished by
Select one:
A. Purchasing garage liability insurance.
B. Purchasing garagekeepers insurance.
