Arkansas Insurance Adjuster Practice Exam

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Jay's lost business income may be covered under what coverage in its Equipment Breakdown Protection Coverage Form?

  1. Brands and Labels

  2. Business Income and Extra Expense

  3. Contingent Business Income and Extra Expense

  4. None

The correct answer is: Contingent Business Income and Extra Expense

The best option in this case is C Contingent Business Income and Extra Expense. The other three options are incorrect as they do not adequately cover Jay's lost business income in the case of Equipment Breakdown. Option A: Brands and Labels is incorrect as it only covers for lost business income if names or labels are damaged, lost, or stolen. Option B: Business Income and Extra Expense is close but still not completely relevant to the question as it only covers for the expenses incurred to repair or replace damaged equipment, but not the lost income itself. Option D: None is incorrect as it implies that there is no coverage at all for Jay's lost business income, which is not the case. Therefore, C is the most accurate option.

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