1 | Page
AINS 103 Questions and Answers
Latest 2026
Which one of the following best describes real property?
Select one:
A. Property being shipped to or from others.
B. Business personal property that includes furniture,
machinery and equipment, and stock/inventory.
C. Tangible property that includes land, structures
permanently attached to the land, and whatever is
growing on the land.
D. Vehicles, merchandise, furniture, tools, and similar
items. Ans: C. Tangible property that includes land,
structures permanently attached to the land, and
whatever is growing on the land.
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?
Select one:
A. Cost to rent temporary office space
© 2025 All rights reserved
, 2 | Page
B. Insurance premiums
C. Debt repayments
D. Payroll of key employees Ans: A. Cost to rent
temporary office space
Upon entering a restaurant, a customer grasped a
handrail that broke off, causing the customer to fall and
break his wrist. This is an example of which one of the
following types of commercial general liability loss?
Select one:
A. Premises and operations liability
B. Personal and advertising injury liability
C. Absolute liability
D. Products and completed operations liability Ans: A.
Premises and operations liability
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.
© 2025 All rights reserved
, 3 | Page
C. Operations liability.
D. Premises and operations liability. Ans: 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. Ans: 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
C. Arise out of employees' job-related injuries and
diseases
D. Result in total disability Ans: C. Arise out of
employees' job-related injuries and diseases
© 2025 All rights reserved
, 4 | Page
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. Ans: A. 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?
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. Ans: B. The
© 2025 All rights reserved
AINS 103 Questions and Answers
Latest 2026
Which one of the following best describes real property?
Select one:
A. Property being shipped to or from others.
B. Business personal property that includes furniture,
machinery and equipment, and stock/inventory.
C. Tangible property that includes land, structures
permanently attached to the land, and whatever is
growing on the land.
D. Vehicles, merchandise, furniture, tools, and similar
items. Ans: C. Tangible property that includes land,
structures permanently attached to the land, and
whatever is growing on the land.
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?
Select one:
A. Cost to rent temporary office space
© 2025 All rights reserved
, 2 | Page
B. Insurance premiums
C. Debt repayments
D. Payroll of key employees Ans: A. Cost to rent
temporary office space
Upon entering a restaurant, a customer grasped a
handrail that broke off, causing the customer to fall and
break his wrist. This is an example of which one of the
following types of commercial general liability loss?
Select one:
A. Premises and operations liability
B. Personal and advertising injury liability
C. Absolute liability
D. Products and completed operations liability Ans: A.
Premises and operations liability
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.
© 2025 All rights reserved
, 3 | Page
C. Operations liability.
D. Premises and operations liability. Ans: 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. Ans: 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
C. Arise out of employees' job-related injuries and
diseases
D. Result in total disability Ans: C. Arise out of
employees' job-related injuries and diseases
© 2025 All rights reserved
, 4 | Page
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. Ans: A. 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?
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. Ans: B. The
© 2025 All rights reserved
