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AINS 103 (Associate In General Insurance)
Exam||COMPLETE EXAM WITH QUESTION AND
ANSWERS|| VERIFIED EXAM||NEWEST EXAM!!!
Julian is the owner of The Clock Shop, a retail store selling
a wide variety of clocks for the home and office. He leases
the space in a shopping center that contains three other
retail stores. The Clock Shop is covered under a
businessowners policy (BOP) with a $200,000 limit of
insurance for its business personal property and a $1,000
deductible. Julian did not purchase any optional
coverages. One evening a fire broke out in one of the
neighboring stores, and spread to The Clock Shop. The
Clock Shop claimed the following damages:
Damage to merchandise on display and in storage:
$50,000
Damage to a computer and printer in the office area:
$4,500
Damage to a personalized sign attached to the building:
$900
How much will the BOP insurer pay for this loss?
A. $49,000
B. $49,900
C. $54,000
D. $54,400 - ANSWER-D. $54,400
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= $50,000 +4,500 + 900 - 1,000 = $54,400
The Neopolitan is insured under a businessowners policy
(BOP) for both building and business personal property.
Which one of the following would be covered under the
definition of a building under The Neopolitan's BOP?
A. The security fence that surrounds the building
B. Permanently installed fixtures and improvements paid
for by tenants
C. The land that the building sits on
D. The outdoor lighting fixtures - ANSWER-D. The outdoor
lighting fixtures
Hope Hardware is insured under a businessowners policy
(BOP) with a $250,000 limit for Business Liability
Coverage. A customer tripped over a box in one of the
aisles, and struck her head on a shelf. The customer filed
a suit against Hope Hardware for medical expenses, pain
and suffering, and lost wages. The BOP insurer spent
$25,000 defending Hope Hardware in court, but the
customer ended up being awarded $230,000. The court
also assigned $2,500 in prejudgment interest. What is the
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total amount that Hope Hardware's BOP insurer will pay
for this claim?
A. $230,000
B. $250,000
C. $255,000
D. $257,500 - ANSWER-D. $257,500
= $230,000 + $25,000 + $2,500
While performing duties for the business, all of the
following would be an insured under Business Liability
Coverage of a partnership's businessowners policy (BOP),
EXCEPT:
A. Employees
B. Stockholders
C. Spouses of the partners
D. Partners - ANSWER-B. Stockholders
The medical expense coverage under Business Section II-
Liability Coverage of the ISO businessowners policy
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(BOP) would cover small and reasonable medical claims
for which one of the following?
A. The insured's spouse
B. Employees of the insured organization
C. Injured customers requiring hospitalization.
D. Volunteer workers at the insured organization -
ANSWER-D. Volunteer workers at the insured
organization
The insured's spouse is a NI
The employee is excluded due to workers comp
Customers
If requiring hospitalization, the medical expenses may be
too high to be covered under Med Pau
One way in which producers can help clients identify
supply chain risk is through
Select one:A. Outsourcing.
B. Single-source vendors.
C. Market globalization.
D. The use of flowcharts. - ANSWER-D. The use of
flowcharts.
AINS 103 (Associate In General Insurance)
Exam||COMPLETE EXAM WITH QUESTION AND
ANSWERS|| VERIFIED EXAM||NEWEST EXAM!!!
Julian is the owner of The Clock Shop, a retail store selling
a wide variety of clocks for the home and office. He leases
the space in a shopping center that contains three other
retail stores. The Clock Shop is covered under a
businessowners policy (BOP) with a $200,000 limit of
insurance for its business personal property and a $1,000
deductible. Julian did not purchase any optional
coverages. One evening a fire broke out in one of the
neighboring stores, and spread to The Clock Shop. The
Clock Shop claimed the following damages:
Damage to merchandise on display and in storage:
$50,000
Damage to a computer and printer in the office area:
$4,500
Damage to a personalized sign attached to the building:
$900
How much will the BOP insurer pay for this loss?
A. $49,000
B. $49,900
C. $54,000
D. $54,400 - ANSWER-D. $54,400
,2|Page
= $50,000 +4,500 + 900 - 1,000 = $54,400
The Neopolitan is insured under a businessowners policy
(BOP) for both building and business personal property.
Which one of the following would be covered under the
definition of a building under The Neopolitan's BOP?
A. The security fence that surrounds the building
B. Permanently installed fixtures and improvements paid
for by tenants
C. The land that the building sits on
D. The outdoor lighting fixtures - ANSWER-D. The outdoor
lighting fixtures
Hope Hardware is insured under a businessowners policy
(BOP) with a $250,000 limit for Business Liability
Coverage. A customer tripped over a box in one of the
aisles, and struck her head on a shelf. The customer filed
a suit against Hope Hardware for medical expenses, pain
and suffering, and lost wages. The BOP insurer spent
$25,000 defending Hope Hardware in court, but the
customer ended up being awarded $230,000. The court
also assigned $2,500 in prejudgment interest. What is the
,3|Page
total amount that Hope Hardware's BOP insurer will pay
for this claim?
A. $230,000
B. $250,000
C. $255,000
D. $257,500 - ANSWER-D. $257,500
= $230,000 + $25,000 + $2,500
While performing duties for the business, all of the
following would be an insured under Business Liability
Coverage of a partnership's businessowners policy (BOP),
EXCEPT:
A. Employees
B. Stockholders
C. Spouses of the partners
D. Partners - ANSWER-B. Stockholders
The medical expense coverage under Business Section II-
Liability Coverage of the ISO businessowners policy
, 4|Page
(BOP) would cover small and reasonable medical claims
for which one of the following?
A. The insured's spouse
B. Employees of the insured organization
C. Injured customers requiring hospitalization.
D. Volunteer workers at the insured organization -
ANSWER-D. Volunteer workers at the insured
organization
The insured's spouse is a NI
The employee is excluded due to workers comp
Customers
If requiring hospitalization, the medical expenses may be
too high to be covered under Med Pau
One way in which producers can help clients identify
supply chain risk is through
Select one:A. Outsourcing.
B. Single-source vendors.
C. Market globalization.
D. The use of flowcharts. - ANSWER-D. The use of
flowcharts.
