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AINS 103 Actual Midterm (Associate In General
Insurance) Exam (3 newest versions) BANK VERSION
AND STUDY GUIDE| ACTUAL EXAM QUESTIONS AND
ANSWERS AND RATIONALES | EXPERT VERIFIED FOR
GUARANTEED PASS | LATEST UPDATE /BRAND NEW
AGfamilyGrecentlyGpurchasedGaGnewGhomeGconstructedGbyGaGresidentialGhomeGb uilder.GTwoGmonthsGafterGtakingGpossession,GseveralGofGtheGfamilyGmembersGw ereGinjuredGwhenGtheGroofGsuddenlyGcollapsed.GTheGfamilyGsuedGtheGconstructi onGcompanyGandGwasGawardedGmonetaryGdamagesGforGtheirGinjuries.GThisGisGa nGexampleGofGwhichGoneGofGtheGfollowingGtypesGofGcommercialGliabilityGlossGex posureGforGtheGconstructionGcompany? SelectGone: A.GProductsGliability B.GPremisesGandGoperationsGliability C.GCompletedGoperationsGliability D.GEmployersGliabilityG......answer.....C.GCompletedGoperationsGliability WhichGoneGofGtheGfollowingGisGanGexampleGofGinjuryGorGdamageGarisingGfromGa nGoccurrenceGthatGwouldGbeGcoveredGbyGtheGproductsGandGcompletedGoperatio nsGliabilityGportionGofGtheGCommercialGGeneralGLiabilityG(CGL)GCoverageGFor m? SelectGone:
A.GAGdefectiveGgasGrangeGmanufacturedGbyGtheGinsuredGexplodesGcausin gGinjury. B.GAGcustomer'sGhouseGisGsetGonGfireGwhileGtheGinsuredGisGdoingGplumbingGwork . C.GAGdissatisfiedGcustomerGsuesGanGinsuredGforGslander. D.GAGcustomerGisGinjuredGwhenGsheGslipsGonGaGwetGfloorGinGaGstore.G......answer.. ...A.GAGdefectiveGgasGrangeGmanufacturedGbyGtheGinsuredGexplodesGcausingGinj ury JoeGMotors,GwhichGservicesGautomobiles,GwantsGtoGmaintainGtheGgoodwillGofGit sGcustomers.GThisGisGbestGaccomplishedGby SelectGone: A.GPurchasingGgarageGliabilityGinsurance. B.GPurchasingGgaragekeepersGinsurance. C.GLoweringGtheGphysicalGdamageGdeductibleGunderGitsGbusinessGautoGinsuranc e. D.GRaisingGliabilityGlimitsGunderGitsGbusinessGautoGinsurance.G......answer.....B.G PurchasingGgaragekeepersGinsurance. WorkersGcompensationGbenefitsGincludeGwhichGoneGofGtheGfollowing? SelectGone: A.GDeathGbenefitsGofG 100 GpercentGofGwageGloss B.GPainGandGsufferingGbenefits C.GRehabilitationGbenefits
C.GBuildingsGnotGattachedGtoGtheGmainGbuilding. D.GCompany'sGcopyrightsGandGtrademarks.G......answer.....B.GContentsGinGandGar oundGaGbuilding. InGbusinessGincomeGinsurance,GtheGexpensesGthatGanGorganizationGwouldGnotGh aveGincurredGifGtheGbusinessGinterruptionGhadGnotGoccurredGareGcalled SelectGone: A.GContinuingGexpenses. B.GContingentGexpenses. C.GExcludableGexpenses. D.GExtraGexpenses.G......answer.....D.GExtraGexpenses. AGvehicleGownerGhadGaGtireGstoreGinstallGfourGnewGwheelsGandGtiresGonGtheGvehi cle.GOnGtheGwayGhomeGfromGtheGstore,GoneGofGtheGwheelsGcameGoff,GcausingGthe GvehicleGtoGaccidentallyGrunGoffGtheGroadGandGstrikeGaGtree.GTheGvehicleGownerGs uedGtheGtireGstoreGforGfailingGtoGproperlyGtightenGtheGlugGnutsGonGtheGvehicle.GT heGlossGexposureGfacedGbyGtheGtireGstoreGinGthisGcaseGisGknownGas SelectGone: A.GEmployersGliability. B.GCompletedGoperationsGliability. C.GAutomobileGliability. D.GProductsGliability.G......answer.....B.GCompletedGoperationsGliability.
WhichGoneGofGtheGfollowingGlossGexposuresGexistGwhenGaGbusinessGcanGbeGheldG legallyGliableGforGbodilyGinjuryGorGpropertyGdamageGcausedGbyGtheirGrepairGorGc ontractingGwork? SelectGone: A.GOperationsGliability B.GCompletedGoperationsGliability C.GWorkers'GcompensationGliability D.GProductsGliabilityG......answer.....B.GCompletedGoperationsGliability InlandGmarineGinsuranceGisGinsuranceGthatGcovers SelectGone: A.GBusinessesGthatGownGorGoperateGwatercraft,GorGimportGorGexportGgoods. B.GManyGdifferentGclassesGofGpropertyGthatGtypicallyGinvolveGanGelement GofGtransportationGonGland. C.GCompaniesGthatGshipGgoodsGbyGcommercialGvesselGonGinlandGwaterways. D.GMiscellaneousGlinesGsuchGasGburglary,Gglass,GandGsteamGboilers.G......answer.. ...B.GManyGdifferentGclassesGofGpropertyGthatGtypicallyGinvolveGanGelementGofGtr ansportationGonGland. SueGisGinjuredGatGwork,GandGherGjobGresponsibilitiesGareGreducedGforG 30 Gdays,Gaf terGwhichGtimeGsheGisGfullyGrecovered.GSueGhasGwhichGoneGofGtheGfollowingGtype sGofGworkersGcompensationGdisabilities? SelectGone: A.GTemporaryGtotalGdisability B.GPermanentGpartialGdisability
PerilsGareGanGimportantGaspectGofGpropertyGinsurance.GWhichGoneGofGtheGfollo wingGstatementsGisGcorrectGwithGrespectGtoGperils? SelectGone: A.GAGperilGisGtheGactualGmeansGbyGwhichGpropertyGisGdamagedGorGdestroyedGsuc hGasGfire,Glightning,Gwindstorm,Ghail,GorGtheft. B.GInGorderGtoGbeGcoveredGbyGanGinsuranceGpolicy,GaGperilGmustGbeGdefinedGandG describedGinGthatGpolicy. C.GPropertyGinsuranceGpoliciesGcanGcoverGspecificGperilsGandGcannotGexcludeGot herGperils. D.GAGperilGisGanythingGthatGincreasesGtheGfrequencyGorGtheGseverityGofGaGloss.G.... ..answer.....A.GAGperilGisGtheGactualGmeansGbyGwhichGpropertyGisGdamagedGorGde stroyedGsuchGasGfire,Glightning,Gwindstorm,Ghail,GorGtheft. AGcontractorGisGhiredGtoGinstallGaGnewGconcreteGsidewalkGinGfrontGofGaGstore.GSe veralGweeksGafterGtheGsidewalkGwasGinstalled,GtheGconcreteGbucklesGandGaGpasse rbyGtripsGandGfallsGonGtheGbuckledGsidewalk.GTheGpasserbyGsuesGtheGcontractorG toGrecoverGmedicalGexpensesGincurredGdueGtoGtheGfall.GThisGcommercialGliabilit yGlossGisGcategorizedGas SelectGone: A.GProductsGliability. B.GEnvironmentalGliability. C.GProfessionalGliability. D.GCompletedGoperationsGliability.G......answer.....D.GCompletedGoperationsGlia bility. WhichGoneGofGtheGfollowingGentitiesGwouldGlikelyGhaveGtheGgreatestGcompleted GoperationsGlossGexposure?
SelectGone: A.GPaulGtheGplumber B.GDorisGtheGphysician C.GMoeGtheGmanufacturer D.GSamGtheGaccountantG......answer.....A.GPaulGtheGplumber AGcarrierGthatGisGpreventedGbyGanGaccidentGfromGdeliveringGtheGcargoGaboardGit sGshipGmayGfaceGanGexposureGcalledGlossGofGfreight,GwhichGis SelectGone: A.GTheGcompensationGtheGcarrierGreceivesGforGtransportingGcargo. B.GAGpenaltyGtheGcarrierGpaysGtheGshipperGforGnondelivery. C.GTheGliabilityGforGlossGorGdamageGtoGtheGcargoGentrustedGtoGit. D.GTheGcostGofGdisposingGofGundeliverableGgoods.G......answer.....A.GTheGcompe nsationGtheGcarrierGreceivesGforGtransportingGcargo. TheGtypicalGworkersGcompensationGstatuteGprovidesGpaymentGforGwhichGoneGo fGtheGfollowing? SelectGone: A.GMedicalGbillsGsustainedGwhileGanGemployeeGcommutesGtoGworkGonGpublicGtr ansit B.GInjuriesGtoGcustomersGonGtheGinsuredGpremises C.GMedicalGbillsGforGanGinjuryGsustainedGbyGanGemployeeGwhileGworking D.GAnyGpropertyGdamageGthatGaccompaniesGaGbodilyGinjuryG......answer.....C.GM edicalGbillsGforGanGinjuryGsustainedGbyGanGemployeeGwhileGworking WhenGaGclothingGmanufacturerGdecidesGtoGexpandGtheGsaleGofGitsGclothingGlineG
C.GMobileGequipmentGwhileGmovingGunderGitsGownGpowerGfromGoneGworkGloca tionGtoGanother D.GPropertyGwhileGbeingGtransportedGbyGtrucks,Gcars,Gbuses,Gtrains,Gairplanes,G andGshipsG......answer.....D.GPropertyGwhileGbeingGtransportedGbyGtrucks,Gcars,Gb uses,Gtrains,Gairplanes,GandGships DuringGaGbusinessGinterruption,GsomeGofGtheGorganization'sGexpenses,GcalledGc ontinuingGexpenses,GwillGcontinue,GandGotherGexpenses,GcalledGnoncontinuing Gexpenses,GwillGnotGcontinue.GWhichGoneGofGtheGfollowingGisGanGexampleGofGaGc ontinuingGexpense? SelectGone: A.GCostGtoGrentGtemporaryGofficeGspace B.GCostGofGovernightGairGshipmentGofGneededGrepairGparts C.GPayrollGofGkeyGemployees D.GOvertimeGwagesGtoGemployeesG......answer.....C.GPayrollGofGkeyGemployees PedestrianGWilmaGwasGinjuredGasGaGresultGofGaGcontractor'sGnegligenceGwhenGt heGcontractorGfailedGtoGadequatelyGwarnGtheGpublicGofGaGhazardGwhenGpavingGa Groad.GAnyGresultingGliabilityGclaimGbyGWilmaGagainstGtheGcontractorGwouldGbe GconsideredGtoGhaveGarisenGfromGtheGcontractor's SelectGone: A.GProductsGandGcompletedGoperationsGliabilityGexposure. B.GPremisesGandGoperationsGliabilityGexposure. C.GPersonalGliabilityGexposure. D.GAbsoluteGliabilityGexposure.G......answer.....B.GPremisesGandGoperationsGliabil ityGexposure.
11 G|G P a g e XYZGcontractor,GcoveredGunderGanGunendorsedGCommercialGGeneralGLiabilityG (CGL)GCoverageGForm,GisGinstallingGkitchenGcabinetsGinGaGcustomer'sGhome.GT heGcontractorGmanufacturedGtheGcabinets.GWhileGtheGcontractorGisGfasteningGa Gcabinet,GitGfallsGandGinjuresGtheGcustomer.GWhichGoneGofGtheGfollowingGbestGex plainsGhowGcoverageGunderGtheGcontractor'sGCGLGCoverageGFormGappliesGinGth isGcase? SelectGone: A.GProductsGandGcompletedGoperationsGliabilityGappliesGbecauseGtheGcontracto rGwasGinstallingGcabinetsGitGmanufactured. B.GPremisesGandGoperationsGliabilityGappliesGbecauseGtheGcontractorGwasGinGthe GprocessGofGinstallingGtheGcabinets. C.GProductsGandGcompletedGoperationsGliabilityGappliesGbecauseGtheGcontracto rGwasGcompletingGtheGwork. D.GPremisesGandGoperationsGliabilityGappliesGbecauseGtheGcontractorGwasGwork ingGatGtheGcustomer'sGpremises.G......answer.....B.GPremisesGandGoperationsGliabi lityGappliesGbecauseGtheGcontractorGwasGinGtheGprocessGofGinstallingGtheGcabine ts. TheGmanagementGofGMarylandGMarineGCo.G(MMC)GmustGensureGthatGproperGc overageGisGobtainedGforGworkrelatedGinjuries.GTheGemployeeGpopulationGofGMM CGisGaGmixtureGofGfulltimeGandGpart- timeGemployeesGasGwellGasGsomeGcasualGemployeesGforGonetimeGtasks.GMuchGofG MMC'sGworkGisGdoneGbyGindependentGcontractorsGandGte mporaryGemployeesGduringGpeakGseasons.GWhichGoneGofGtheGfollowingGstatem entsGaboutGtheseGpersonsGisGtrue?
13 G|G B.GIntellectualGproperty C.GPersonalGproperty D.GRealGpropertyG......answer.....B.GIntellectualGproperty
RenataGownsGaGvaluableGantiqueGsculptureGbyGaGfamousGartist.GOneGdayGsheGac cidentallyGdroppedGtheGsculptureGandGaGpieceGofGitGbrokeGoff.GRenataGtookGtheG sculptureGtoGanGartGrestorer,GwhoGreattachedGtheGbrokenGpieceGandGrepairedGth eGsurface.GFromGaGdistance,GtheGstatueGlooksGtheGsameGasGitGdidGbeforeGRenataG droppedGit,GbutGaGcloseGinspectionGrevealsGtheGrepair.GWhichGoneGofGtheGfollow ingGbestGdescribesGtheGfinancialGconsequencesGofGtheGaccident? SelectGone: A.GThereGareGnoGfinancialGconsequencesGbecauseGtheGpieceGlooksGtheGsameGasGi tGdidGbeforeGtheGaccident. B.GTheGfinancialGconsequencesGincludeGtheGcostGofGtheGrepairGandGtheGreductio nGinGvalueGresultingGfromGtheGrepairedGdamage. C.GRenataGhasGincurredGaGtotalGlossGbecauseGoriginalGartworkGisGimpossibleGtoGr eplace. D.GTheGonlyGfinancialGconsequenceGofGtheGaccidentGisGtheGmoneyGRenataGpaidGt heGartGrestorerGforGtheGrepair.G......answer.....B.GTheGfinancialGconsequencesGincl udeGtheGcostGofGtheGrepairGandGtheGreductionGinGvalueGresultingGfromGtheGrepai redGdamage. TelephoneGCompanyGinstallsGfiberopticGcableGusingGaGtrenchingGmachineGthatG digsGaGtrench,GburiesGtheGcable,Gfill sGinGtheGtrench,GandGreseeds,GallGinGoneGpass.GTheGtrenchingGmachineGcanGinsta llGcableGinGaGfiftyhomeGneighborhoodGinGoneGday.GAGdayGafterGtheGtrenchingGma chineGpassesGby ,GaGmemberGofGtheGcommunityGstepsGonGtheGtrenchedGarea,GsinksGin,GandGbreak sGhisGleg.GThisGisGanGexampleGofGaGliabilityGlossGexposureGarisingGoutGof SelectGone: A.GPremises. B.GCompletedGoperations.
Bio- PharmaGwasGaGhighlyregardedGpharmaceuticalGcompany.GThatGchangedGlastGye arGwhenGitGwasGrevea ledGthatGBio- PharmaGresearchersGhadGfabricatedGtestGresultsGofGtheGcompany'sGnewGhyperte nsionGdrug,GandGaGcompanyGofficialGbribedGaGkeyGregulatorGtoGgetGtheGdrugGapp roved.GTheseGrevelationsGledGtoGaGsharpGdeclineGinGsalesGofGallGofGBioPharma'sGd rugs,GaGsharpGdeclineGinGnetGincome,GandGaGdeclineGinGBio- Pharma'sGstockGprice.GThisGscenarioGclearlyGindicatesGtheGvalueGofGaGcorporatio n's SelectGone: A.GPatents. B.GIntellectualGproperty. C.GInternalGsecurity. D.GReputation.G......answer.....D.GReputation. SallyGisGaGcommercialGpropertyGclaimsGadjuster.GWhenGsheGisGfirstGassignedGaGcl aim,GsheGreviewsGtheGcommercialGpropertyGpartGofGtheGpolicyGtoGmakeGsureGtha tGtheGpropertyGthatGsufferedGtheGlossGmatchesGtheGdescriptionGofGtheGpropertyGi nsured.GSheGalsoGreviewsGtheGkindsGandGamountGofGcoverageGprovided.GWhichG oneGofGtheGfollowingGcomponentsGofGtheGcommercialGpropertyGpartGwillGprovid eGSallyGwithGthisGinformation? SelectGone: A.GCommercialGpropertyGdeclarationsGpage B.GBuildingGandGpersonalGpropertyGcoverageGform C.GCausesGofGlossGform D.GCommercialGpropertyGconditionsG......answer.....A.GCommercialGpropertyGde clarationsGpage
WhichGoneGofGtheGfollowingGperilsGwouldGbeGcoveredGunderGtheGcommercialGpr opertyGpolicyGbroadGformGbutGnotGcoveredGunderGtheGbasicGform? SelectGone: A.GDamageGdueGtoGexplosion. B.GDamageGdueGtoGvehicles C.GDamageGdueGtoGvandalism D.GDamageGdueGtoGweightGofGsnowG......answer.....D.GDamageGdueGtoGweightGofG snow TheGcommercialGpropertyGpolicyGCausesGofGLossGFormGthatGprovidesGcoverageG forG"risksGofGdirectGphysicalGloss,"GunlessGexcludedGorGlimitedGbyGtheGpolicyGisGc alledGthe SelectGone: A.GCausesGofGLoss—SpecialGForm. B.GCausesGofGLoss—AllGRisksGForm. C.GCausesGofGLoss—BasicGForm. D.GCausesGofGLoss—BroadGForm.G......answer.....A.GCausesGofGLoss— SpecialGForm. WhichGoneGofGtheGfollowingGstatementsGisGcorrectGwithGregardGtoGtheGBuildingG andGPersonalGPropertyGCoverageGFormG(BPP)? SelectGone:
WhichGoneGofGtheGfollowingGwouldGbeGconsideredGanGextraGexpenseGunderGtheG BusinessGIncomeG(andGExtraGExpense)GCoverageGFormGofGtheGcommercialGpac kageGpolicy? SelectGone: A.GTheGincreasedGcostGofGconstructionGtoGmeetGnewGbuildingGcodesGorGordinan ces B.GTheGsalaryGofGkeyGemployeesGwhoGwillGcontinueGtoGworkGatGaGtemporaryGloca tion C.GTheGcostGtoGremoveGdamagedGequipmentGandGmachinery D.GTheGincreasedGcostGofGrentGatGaGtemporaryGlocationG......answer.....D.GTheGin creasedGcostGofGrentGatGaGtemporaryGlocation TheGcoinsuranceGbasisGforGbusinessGincomeGcoverageGis SelectGone: A.GNetGincomeGplusGcontinuingGoperatingGexpenses. B.GNetGincomeGplusGallGoperatingGexpensesGthatGwouldGhaveGbeenGincurredGinGt heGabsenceGofGaGloss. C.GGrossGincomeGplusGpayrollGandGutilities. D.GGrossGincomeGlessGcontinuingGoperatingGexpenses.G......answer.....B.GNetGinc omeGplusGallGoperatingGexpensesGthatGwouldGhaveGbeenGincurredGinGtheGabsenc eGofGaGloss. TheGcommercialGpropertyGcoverageGpartGofGaGcommercialGpackageGpolicyGcont ainsGoneGorGmoreGcommercialGpropertyGcoverageGforms.GEachGcoverageGformGt ypicallyGincludesGallGofGtheGfollowing,GEXCEPT:
SelectGone: A.GAGrangeGofGcoveredGperil B.GWhatGpropertyGisGcoveredGandGpropertyGthatGisGnotGcovered C.GAnGinsuringGagreement D.GDefinitionsGandGprovisionsG......answer.....A.GAGrangeGofGcoveredGperil WhichGoneGofGtheGfollowingGisGaGcoveredGcauseGofGlossGunderGtheGCausesGofGLos s—BasicGForm? SelectGone: A.GWeightGofGice,Gsnow,GorGsleet B.GFallingGobjects C.GWaterGdamage D.GSprinklerGleakageG......answer.....D.GSprinklerGleakage WhichGoneGofGtheGfollowingGisGoneGofGtheGcoveredGcausesGofGlossGinGtheGcomme rcialGpropertyGpolicyGCausesGofGLoss—BasicGform? SelectGone: A.GVandalism B.GFallingGobjects C.GWaterGdamage D.GWeightGofGiceG......answer.....A.GVandalism
