NY General Adjuster Test (10-70) questions with verified
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detailed answers ||
On what date does an adjuster's license need to be renewed? - ✔✔12/1 - even numbered yrs
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What is the amount of bond that must be posted to obtain and adjuster's license? -
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✔✔$1,000
When can the Superintendent of Insurance revoke an adjuster's license?
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a. anytime b. by sending a 30 day notice of the renovation c. not until a hearing is held d.
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When proof of offense has been received - ✔✔Not until hearing held
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Failing to acknowledge within a reasonable time, communications w/ respect to claims
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arising out of the insurer's policies - ✔✔Example of unfair claim settlement act
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If found guilty of Fed Insurance fraud, who can permit a guilty individual to return to the
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insurance business? ||
a. federal official b. no one since this is federal offense c.an ins regulatory official i.e. Super
|| || || || || || || || || || || || || || || || ||
of Ins d. only court of law after proper hearing - ✔✔An ins regulatory official such as
|| || || || || || || || || || || || || || || || ||
Superintendent of Insurance || ||
What is the reason for the NY financial responsibility law? - ✔✔To provide some form of
|| || || || || || || || || || || || || || || ||
compulsory insurance ||
In NY must uninsured motorist coverage: a. is optional b. mandatory c. doesn't require sign
|| || || || || || || || || || || || || || ||
off for > limits d. doesn't cover "hit & run" drivers - ✔✔Is a mandatory coverage
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,Damage to a rental car is paid in NY under which of the following coverages: a. insured's
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physical damage b. property damage covg c. special endorsement d. must be purchased
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from rental agency - ✔✔The insured's property damage coverage
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All admitted auto insurers selling auto insurance in NY - ✔✔Who must belong to the
|| || || || || || || || || || || || || || ||
assigned risk plan? || ||
What does the employer's non-ownership coverage cover?Covers the employer when the
|| || || || || || || || || || ||
employee is using their vehicle on company business. - ✔✔Covers the employer when the
|| || || || || || || || || || || || || ||
employee is using their vehicle on company business. || || || || || || ||
Which is not covered under worker's comp coverage?
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a. med expenses b. pain & suffering c. loss of wages d. funeral expenses - ✔✔Pain &
|| || || || || || || || || || || || || || || || ||
Suffering
Who makes a declaratory judgment as to the merits of a claim?
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a. claims adj b. insurer attorney c. court d. claimants attorney - ✔✔The court
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What type of liability does an employer assume through their employees? a. primary b.
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contingent c. vicarious d. no fault - ✔✔Vicarious || || || || || || ||
What part of the policy contains the promises made by the insurance company to the
|| || || || || || || || || || || || || || ||
insured? a. conditions clause b. definitions c. exceptions to exclusions d. insuring agreement
|| || || || || || || || || || || ||
- ✔✔The insuring agreement
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In property & casualty insurance, when must a person absolutely have an insurable
|| || || || || || || || || || || || ||
interest? a. time of app completion b. time of loss c. at any time d. insuring agreement -
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✔✔At the time of the loss || || || || ||
, Something that has value in the eyes of the law in which a promise receives something in
|| || || || || || || || || || || || || || || || ||
return for a promise - ✔✔Definition of consideration
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The promise by one party that is conditioned on a fortuitous event and the values given by
|| || || || || || || || || || || || || || || || ||
the parties are unequal is called?
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a. executory b. aleatory c. speculation d. a static risk - ✔✔Aleatory
|| || || || || || || || || || ||
What constitutes an act of terrorism - ✔✔Violent act that is dangerous to human life and
|| || || || || || || || || || || || || || || ||
property
How much property and casualty los must be sustained to be considered an act of terrorism
|| || || || || || || || || || || || || || || ||
to be covered by the Terrorism Risk Insurance Act of 2002 - ✔✔Losses over $5,000,000
|| || || || || || || || || || || || || ||
Individual(s) acting on behalf of any foreign person or interest in an effort to coerce the
|| || || || || || || || || || || || || || || ||
civilian pop. of USA - ✔✔Act of terrorism & covered under Terrorism Risk Act of 2002, act
|| || || || || || || || || || || || || || || || ||
must be committed by?
|| || ||
Who would be covered under homeowner med payments?
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a. friend helping insured lay carpet b. foreign exchange student living w/ insured c. tenant
|| || || || || || || || || || || || || || ||
of insured's residence d. son of insured bitten by family dog - ✔✔A friend helping insured
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lay carpet
||
Which personal insurance policy covers w/out endorsement, both personal property &
|| || || || || || || || || || ||
personal liability coverages? || ||
a. DP-3 form b. personal articles floater c. homeowner policy d. personal property floater -
|| || || || || || || || || || || || || || ||
✔✔Homeowner policy ||
Under new 2000 homeowner forms, what is definition of collapse? - ✔✔An abrupt falling
|| || || || || || || || || || || || || ||
down or caving in of the structure
|| || || || || ||
|| || || || || || || ||
detailed answers ||
On what date does an adjuster's license need to be renewed? - ✔✔12/1 - even numbered yrs
|| || || || || || || || || || || || || || || ||
What is the amount of bond that must be posted to obtain and adjuster's license? -
|| || || || || || || || || || || || || || || ||
✔✔$1,000
When can the Superintendent of Insurance revoke an adjuster's license?
|| || || || || || || || ||
a. anytime b. by sending a 30 day notice of the renovation c. not until a hearing is held d.
|| || || || || || || || || || || || || || || || || || || ||
When proof of offense has been received - ✔✔Not until hearing held
|| || || || || || || || || || ||
Failing to acknowledge within a reasonable time, communications w/ respect to claims
|| || || || || || || || || || || ||
arising out of the insurer's policies - ✔✔Example of unfair claim settlement act
|| || || || || || || || || || || ||
If found guilty of Fed Insurance fraud, who can permit a guilty individual to return to the
|| || || || || || || || || || || || || || || || ||
insurance business? ||
a. federal official b. no one since this is federal offense c.an ins regulatory official i.e. Super
|| || || || || || || || || || || || || || || || ||
of Ins d. only court of law after proper hearing - ✔✔An ins regulatory official such as
|| || || || || || || || || || || || || || || || ||
Superintendent of Insurance || ||
What is the reason for the NY financial responsibility law? - ✔✔To provide some form of
|| || || || || || || || || || || || || || || ||
compulsory insurance ||
In NY must uninsured motorist coverage: a. is optional b. mandatory c. doesn't require sign
|| || || || || || || || || || || || || || ||
off for > limits d. doesn't cover "hit & run" drivers - ✔✔Is a mandatory coverage
|| || || || || || || || || || || || || || ||
,Damage to a rental car is paid in NY under which of the following coverages: a. insured's
|| || || || || || || || || || || || || || || || ||
physical damage b. property damage covg c. special endorsement d. must be purchased
|| || || || || || || || || || || || ||
from rental agency - ✔✔The insured's property damage coverage
|| || || || || || || ||
All admitted auto insurers selling auto insurance in NY - ✔✔Who must belong to the
|| || || || || || || || || || || || || || ||
assigned risk plan? || ||
What does the employer's non-ownership coverage cover?Covers the employer when the
|| || || || || || || || || || ||
employee is using their vehicle on company business. - ✔✔Covers the employer when the
|| || || || || || || || || || || || || ||
employee is using their vehicle on company business. || || || || || || ||
Which is not covered under worker's comp coverage?
|| || || || || || || ||
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses - ✔✔Pain &
|| || || || || || || || || || || || || || || || ||
Suffering
Who makes a declaratory judgment as to the merits of a claim?
|| || || || || || || || || || ||
a. claims adj b. insurer attorney c. court d. claimants attorney - ✔✔The court
|| || || || || || || || || || || || ||
What type of liability does an employer assume through their employees? a. primary b.
|| || || || || || || || || || || || || ||
contingent c. vicarious d. no fault - ✔✔Vicarious || || || || || || ||
What part of the policy contains the promises made by the insurance company to the
|| || || || || || || || || || || || || || ||
insured? a. conditions clause b. definitions c. exceptions to exclusions d. insuring agreement
|| || || || || || || || || || || ||
- ✔✔The insuring agreement
|| || || ||
In property & casualty insurance, when must a person absolutely have an insurable
|| || || || || || || || || || || || ||
interest? a. time of app completion b. time of loss c. at any time d. insuring agreement -
|| || || || || || || || || || || || || || || || || ||
✔✔At the time of the loss || || || || ||
, Something that has value in the eyes of the law in which a promise receives something in
|| || || || || || || || || || || || || || || || ||
return for a promise - ✔✔Definition of consideration
|| || || || || || ||
The promise by one party that is conditioned on a fortuitous event and the values given by
|| || || || || || || || || || || || || || || || ||
the parties are unequal is called?
|| || || || ||
a. executory b. aleatory c. speculation d. a static risk - ✔✔Aleatory
|| || || || || || || || || || ||
What constitutes an act of terrorism - ✔✔Violent act that is dangerous to human life and
|| || || || || || || || || || || || || || || ||
property
How much property and casualty los must be sustained to be considered an act of terrorism
|| || || || || || || || || || || || || || || ||
to be covered by the Terrorism Risk Insurance Act of 2002 - ✔✔Losses over $5,000,000
|| || || || || || || || || || || || || ||
Individual(s) acting on behalf of any foreign person or interest in an effort to coerce the
|| || || || || || || || || || || || || || || ||
civilian pop. of USA - ✔✔Act of terrorism & covered under Terrorism Risk Act of 2002, act
|| || || || || || || || || || || || || || || || ||
must be committed by?
|| || ||
Who would be covered under homeowner med payments?
|| || || || || || ||
a. friend helping insured lay carpet b. foreign exchange student living w/ insured c. tenant
|| || || || || || || || || || || || || || ||
of insured's residence d. son of insured bitten by family dog - ✔✔A friend helping insured
|| || || || || || || || || || || || || || || ||
lay carpet
||
Which personal insurance policy covers w/out endorsement, both personal property &
|| || || || || || || || || || ||
personal liability coverages? || ||
a. DP-3 form b. personal articles floater c. homeowner policy d. personal property floater -
|| || || || || || || || || || || || || || ||
✔✔Homeowner policy ||
Under new 2000 homeowner forms, what is definition of collapse? - ✔✔An abrupt falling
|| || || || || || || || || || || || || ||
down or caving in of the structure
|| || || || || ||
