Dram Shop Liability refers to: - ANSWER Liquor Law Liability.
The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the
property from further loss. The additional loss that occurs as a result of his inactions may be
denied because of what clause in the policy? - ANSWER Neglect.
To be eligible for the New York assigned risk auto plan a person must: - ANSWER Hold a
valid driver's license.
Any insurance adjuster whose license has been revoked for cause will not be entitled to ap-
ply for any other insurance license in New York until at least: - ANSWER One Year.
A typical benefit design for a long term care policy does not include a: - ANSWER Condi-
tionally or optionally renewability feature.
In New York the workers compensation program is administered by the Workers Compensa-
tion Board which establishes guidelines for the program. Notice of injury or death to a
worker is required to be submitted to the employer within what period of time? - AN-
SWER 30 Days.
A common carrier is not held liable for the loss of a shipper's goods when the loss results
from: - ANSWER An Act of God.
If one is found guilty of federal insurance fraud, who can permit the guilty individual to re-
turn to the insurance business? - ANSWER Only an insurance regulatory official.
1
,When is a passenger first covered under an aircraft policy? - ANSWER When Entering the
Aircraft.
If an insured takes precautionary measures to protect property from flood damage such as
creating a retaining wall of sand bags, how much coverage if any, will be provided by a flood
policy? - ANSWER $1,000 if the flood is imminent and the property is in danger of flood-
ing.
Which Commercial Forms would cover sinkhole collapse? - ANSWER Basic, Broad, and
Special.
______ is a movement allowed by certain joints of the skeleton that decreases the angle be-
tween two adjoining bones. - ANSWER Flexion
The listing of the perils covered is found in which part of a homeowner policy? - ANSWER
Insuring Agreement.
If a dog owned by a customer is injured in the parking lot of a store, is that considered bodily
injury under liability coverage? - ANSWER No. The dog is property and would be consider
property damage.
The Superintendent of Insurance may approve the employment, appointment or participa-
tion of any person whose license has been revoked. Karen Jones had her license revoked and
filed an application for relicensing and has waited over 120 days without a response from
the Insurance Department. What should or can she do? - ANSWER Assume the relicens-
ing is approved.
Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at the air-
port and leaves the keys in the ignition. When he returns he finds that his car has been sto-
len. Later the car was discovered with severe collision damage. The airport carries Garage-
keeper's Legal Liability coverage and Mr. Vickers carries Liability and Comprehensive cover-
age on his auto. What coverage would apply? - ANSWER Mr. Vickers comprehensive cov-
erage.
2
, An automobile is polluting the environment. What engine component could be the primary
cause? - ANSWER Catalytic Converter Malfunction.
Under the dwelling policy, DP2 or D3, what is the maximum amount of Coverage A that
would be paid for additional living expenses? - ANSWER 20%
Workers compensation policies also include employer's liability coverage. If any employer
fails to maintain the equipment and an employee is injured, would it be covered under this
coverage? - ANSWER Yes.
Fidelity bonds are typically written to be effective for a: - ANSWER Continuous term with-
out an expiration date.
One purpose of a deductible is to: - ANSWER Eliminate small claims.
If the insured has failed to pay the premium for a worker compensation policy issued in New
York, how many days notice of cancellation must be sent to the insured? - ANSWER A 10
day notice.
A ship owner wanting coverage in case crew members bring liability suits for injuries sus-
tained while working would purchase: - ANSWER Protection and Indemnity
Under workers compensation in New York, which of the following does not raise the pre-
mium based on it being a proportion of the charged premium? - ANSWER Premium Dis-
count.
What is an example of a moral hazard? - ANSWER Embezzlement
3
The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the
property from further loss. The additional loss that occurs as a result of his inactions may be
denied because of what clause in the policy? - ANSWER Neglect.
To be eligible for the New York assigned risk auto plan a person must: - ANSWER Hold a
valid driver's license.
Any insurance adjuster whose license has been revoked for cause will not be entitled to ap-
ply for any other insurance license in New York until at least: - ANSWER One Year.
A typical benefit design for a long term care policy does not include a: - ANSWER Condi-
tionally or optionally renewability feature.
In New York the workers compensation program is administered by the Workers Compensa-
tion Board which establishes guidelines for the program. Notice of injury or death to a
worker is required to be submitted to the employer within what period of time? - AN-
SWER 30 Days.
A common carrier is not held liable for the loss of a shipper's goods when the loss results
from: - ANSWER An Act of God.
If one is found guilty of federal insurance fraud, who can permit the guilty individual to re-
turn to the insurance business? - ANSWER Only an insurance regulatory official.
1
,When is a passenger first covered under an aircraft policy? - ANSWER When Entering the
Aircraft.
If an insured takes precautionary measures to protect property from flood damage such as
creating a retaining wall of sand bags, how much coverage if any, will be provided by a flood
policy? - ANSWER $1,000 if the flood is imminent and the property is in danger of flood-
ing.
Which Commercial Forms would cover sinkhole collapse? - ANSWER Basic, Broad, and
Special.
______ is a movement allowed by certain joints of the skeleton that decreases the angle be-
tween two adjoining bones. - ANSWER Flexion
The listing of the perils covered is found in which part of a homeowner policy? - ANSWER
Insuring Agreement.
If a dog owned by a customer is injured in the parking lot of a store, is that considered bodily
injury under liability coverage? - ANSWER No. The dog is property and would be consider
property damage.
The Superintendent of Insurance may approve the employment, appointment or participa-
tion of any person whose license has been revoked. Karen Jones had her license revoked and
filed an application for relicensing and has waited over 120 days without a response from
the Insurance Department. What should or can she do? - ANSWER Assume the relicens-
ing is approved.
Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at the air-
port and leaves the keys in the ignition. When he returns he finds that his car has been sto-
len. Later the car was discovered with severe collision damage. The airport carries Garage-
keeper's Legal Liability coverage and Mr. Vickers carries Liability and Comprehensive cover-
age on his auto. What coverage would apply? - ANSWER Mr. Vickers comprehensive cov-
erage.
2
, An automobile is polluting the environment. What engine component could be the primary
cause? - ANSWER Catalytic Converter Malfunction.
Under the dwelling policy, DP2 or D3, what is the maximum amount of Coverage A that
would be paid for additional living expenses? - ANSWER 20%
Workers compensation policies also include employer's liability coverage. If any employer
fails to maintain the equipment and an employee is injured, would it be covered under this
coverage? - ANSWER Yes.
Fidelity bonds are typically written to be effective for a: - ANSWER Continuous term with-
out an expiration date.
One purpose of a deductible is to: - ANSWER Eliminate small claims.
If the insured has failed to pay the premium for a worker compensation policy issued in New
York, how many days notice of cancellation must be sent to the insured? - ANSWER A 10
day notice.
A ship owner wanting coverage in case crew members bring liability suits for injuries sus-
tained while working would purchase: - ANSWER Protection and Indemnity
Under workers compensation in New York, which of the following does not raise the pre-
mium based on it being a proportion of the charged premium? - ANSWER Premium Dis-
count.
What is an example of a moral hazard? - ANSWER Embezzlement
3
