AINS103 Practice Questions, AINS 103 Latest

AINS103 Practice Questions, AINS 103 Latest Update -m 500+ Questions and 100% Verified Correct Answers Verified by Professor 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

Select one:

• A completed operations liability exposure.
• An operations liability exposure.
• A premises liability exposure.

D. A products liability exposure. - CORRECT ANSWER: A. A completed operations

liability exposure.

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.

A carrier is prevented from delivering cargo aboard its ship due to an accident that occurred while at sea. One of the losses the carrier may face is loss of freight. Loss of freight refers to which one of the following? - CORRECT ANSWER: The compensation the carrier received for transporting cargo.

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

Select one:

• The compensation the carrier receives for transporting cargo.
• A penalty the carrier pays the shipper for nondelivery.
• The liability for loss or damage to the cargo entrusted to it. 1 / 4

D. The cost of disposing of undeliverable goods. - CORRECT ANSWER: A. The

compensation the carrier receives for transporting cargo.

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.

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:

• Business personal property
• Stock
• Inventory

D. Commercial property - CORRECT ANSWER: A. Business personal property

A company owns land that is used as a softball diamond and recreational park for hosting employee picnics. Once a year the company also allows a non-profit organization to hold a softball game on these premises. During this year's softball game, the director of the non-profit was injured when a softball hit him in the head. He asked the company that owns the land to pay for his trip to the emergency room. The

company's unendorsed Commercial General Liability policy - CORRECT ANSWER:

Does not cover the directors injuries sustained because they happened during an athletic event.

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 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 loss is categorized as 2 / 4

Select one:

• Products liability.
• Environmental liability.
• Professional liability.

D. Completed operations liability. - CORRECT ANSWER: D. Completed operations

liability.

A customer filed a suit against Patsy's Market, claiming that she was injured when she slipped and fell in the produce section. The customer claimed that she broke her elbow, had to have surgery, and missed a week of work. The owner of Patsy's Market told its commercial general liability (CGL) insurer that the produce area was always clean and that the claim was suspicious. After reviewing the medical bills and video footage from the market, the insurer concluded that Patsy's Market was probably liable for the customer's injury. The CGL insurer will most likely attempt to do which one of the following?

Select one:

• Defend Patsy's Market in court
• Refuse to defend Patsy's Market based on an exclusion
• Negotiate an out of court settlement

D. Deny the claim based on the owner's suspicion - CORRECT ANSWER: C. Negotiate

an out of court settlement

A customer filed a suit against Patsy's Market, claiming that she was injured when she slipped and fell in the produce section. The customer claims that she broke her elbow, had to have surgery, and missed a week of work. The owner of Patsy's Market told its commercial general liability (CGL) insurer that the produce area was always clean and that the claim was suspicious. After reviewing the medical bills and video footage from the market, the insurer concluded that Patsy's Market was probably liable for the customers injury. The CGL insurer will most likely attempt to do which of the following? -

CORRECT ANSWER: Negotiate an out of court settlement.

A customer shopping at Clark's Food Market dropped a bottle of wine at the checkout counter. The bottle broke and cut the customer's leg. The customer required some minor medical attention and a few stitches. Which one of the following coverages under 3 / 4

Clark's Commercial General Liability (CGL) coverage form would pay for the customer's expenses?

Select one:

• Personal and advertising injury liability coverage
• Liquor liability coverage
• Premises and operations liability coverage

D. Medical payments coverage - CORRECT ANSWER: D. Medical payments coverage

A customer shopping at Clark's Food Market dropped a bottle of wine at the checkout counter. The bottle broke and cut the customers leg. The customer required minor medical attention and a few stiches. Which one of the following coverages under Clark's Commercial General Liability (CGL) coverage form would pay for the customers

expenses? - CORRECT ANSWER: Medical payments coverage.

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:

• Products liability
• Premises and operations liability
• Completed operations liability

D. Employers liability - CORRECT ANSWER: C. Completed operations liability

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? - CORRECT

ANSWER: Completed operations and liability.

A motor truck cargo liability policy

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