AINS 103 Questions and Answers Graded A+

AINS 103 Questions and Answers Graded A+ Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Danforth Grocery Store is most exposed to which one of the following types of liability loss? A. Completed operations liability B. Premises liability C. Automobile liability D. Professional liability B. Premises liability Entities eligible for financial institution bonds are A. Not eligible for for the ISO Commercial Crime Program B. Insured by the Federal Deposit Insurance Corporation (FDIC) C. Required to carry the ISO Commercial Crime Form D. Excluded under the Commercial General Liability Crime Form A. Not eligible for for the ISO Commercial Crime Program Smith Stores had net income of $5,000 per month in the 12 months before a covered business income loss. The store is unable to reopen for three months. During that time, continuing expenses totaled $6,000. What is the amount of Smith Stores' business income loss? A. $6,000 B. $15,000 C. $21,000 D. $66,000 C. $21,000 The business was interrupted for three months, for a business income loss of $15,000, plus continuing expenses of $6,000. The Malvern Company is a small business insured under a BOP for both building and BPP. Which one of the following would be covered under the definition of a building under the company's BOP? A. Product manufactured by Malvern Company B. The land that the building sits on C. Air conditioning equipment attached to the building D. The fence that surrounds the building C. Air conditioning equipment attached to the building The Workers Compensation and Employers Liability Insurance Policy provides that the insured is responsible to reimburse the insurer to which one of the following situations? A. Any benefits paid by the insurer even though the insured has failed to comply with policy conditions B. Benefits paid to employees with pre-existing injuries C. Penalties levied under a workers compensation law against the insured for noncompliance with health and safety laws and regulations D. A liability suit was filed against the insured for occupational injuries to employees C. Penalties levied under a workers compensation