NY Adjuster License EXAM STUDY GUIDE
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS || 100%
GUARANTEED PASS <NEWEST VERSION>
Which section of an insurance policy contains language to assist an insurance
company in managing morale and moral hazards - ANSWER The exclusions
The funds assessed to be deposited into the NY Special Disability Fund are
deposited with? - ANSWER The Commissioner of Taxation and Finance
Someone has been hired to work for Namee Insurance Company to adjust workers
compensation claims in the office. This person works as what type of adjuster? -
ANSWER A staff or adjuster who is working as an employee
A products-completed operations claim can be made against products
manufacturers, wholesalers, and retailers alleging fault and legal responsibilities
except for... - ANSWER Vicarious liability
What is an incorrect statement on liability Part A of a Personal Auto Policy -
ANSWER When Part A limits are exhausted any limits for Uninsured Motorists
coverage can be used to pay the entire claim
What is not true of a Physician, Surgeon, Dentist form? - ANSWER It is available
to be written on an occurrence form only
, What is not true of the NY Motor Vehicle Accident Indemnification Corporation?
- ANSWER The injured party must submit all medical bills along with the claim
forms within 30 days of the accident that caused the injury
How much does NY pay a family for death benefits for the minimum financial
responsibility limit? - ANSWER $50,000
The minimum coverage amount for UM/UIM in NY is? - ANSWER $25,000 per
person; $50,000 per accident
Part 1 of workers compensation policy covers all but: - ANSWER Bodily injury
caused by employer negligence
Indemnity - ANSWER Restores insured to pre-loss position; no profit.
Subrogation - ANSWER Insurer recovers from at-fault third party after paying the
claim.
Occurrence Policy - ANSWER Coverage triggered by when loss happened (within
policy period).
Claims-Made Policy - ANSWER Coverage triggered by when claim is reported
(and after retro date).
Retroactive Date - ANSWER Earliest date a loss can occur and be covered under
Claims-Made.
Tail Coverage - ANSWER Extended reporting period after Claims-Made policy
ends.
,ACV - ANSWER Replacement cost minus depreciation.
RCV - ANSWER New-for-old; no depreciation.
Proof of Loss - ANSWER Sworn statement of claim details; typically due within
60 days of insurer request.
Reservation of Rights - ANSWER Insurer notice: investigating; coverage may be
denied.
Reg 64 - Acknowledge - ANSWER 15 business days.
Reg 64 - Accept/Deny - ANSWER 15 business days after required docs.
Reg 64 - Pay After Settlement - ANSWER 5 business days.
Public Adjuster - ANSWER Represents the insured.
Independent Adjuster - ANSWER Represents the insurer.
PIP (NY) - ANSWER No-fault benefits: medical + wage loss regardless of fault.
MedPay - ANSWER Optional limited medical coverage (not no-fault).
HO-2 Broad Form - ANSWER Named peril coverage for both dwelling/other
structures and personal property (Broad Form). RCV for dwelling, ACV for
contents.
, HO-3 Special Form - ANSWER Dwelling and other structures = Open Peril
(Special); personal property = Named Peril (Broad).
HO-5 Comprehensive Form - ANSWER Open Peril coverage for both
dwelling/other structures and personal property. RCV on everything.
HO-4 Renters Form - ANSWER Broad Named Peril coverage for tenant's
personal property only (no dwelling coverage).
HO-6 Condo Form - ANSWER Broad Named Peril coverage for condo unit
interiors (walls, floors, built-ins) and personal property.
HO-8 Modified Form - ANSWER Basic Named Peril coverage for older/historic
homes; both dwelling and contents. ACV only.
HO-2 Broad Form designed for - ANSWER Standard homeowners with 1-4
family owner-occupied dwellings.
HO-3 Special Form designed for - ANSWER The most common homeowners
form for owner-occupied houses.
HO-5 Comprehensive Form designed for - ANSWER Newer or high-value homes
needing broadest protection.
HO-4 Renters Form designed for - ANSWER Tenants who rent apartments or
houses; it covers belongings, not the building.
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS || 100%
GUARANTEED PASS <NEWEST VERSION>
Which section of an insurance policy contains language to assist an insurance
company in managing morale and moral hazards - ANSWER The exclusions
The funds assessed to be deposited into the NY Special Disability Fund are
deposited with? - ANSWER The Commissioner of Taxation and Finance
Someone has been hired to work for Namee Insurance Company to adjust workers
compensation claims in the office. This person works as what type of adjuster? -
ANSWER A staff or adjuster who is working as an employee
A products-completed operations claim can be made against products
manufacturers, wholesalers, and retailers alleging fault and legal responsibilities
except for... - ANSWER Vicarious liability
What is an incorrect statement on liability Part A of a Personal Auto Policy -
ANSWER When Part A limits are exhausted any limits for Uninsured Motorists
coverage can be used to pay the entire claim
What is not true of a Physician, Surgeon, Dentist form? - ANSWER It is available
to be written on an occurrence form only
, What is not true of the NY Motor Vehicle Accident Indemnification Corporation?
- ANSWER The injured party must submit all medical bills along with the claim
forms within 30 days of the accident that caused the injury
How much does NY pay a family for death benefits for the minimum financial
responsibility limit? - ANSWER $50,000
The minimum coverage amount for UM/UIM in NY is? - ANSWER $25,000 per
person; $50,000 per accident
Part 1 of workers compensation policy covers all but: - ANSWER Bodily injury
caused by employer negligence
Indemnity - ANSWER Restores insured to pre-loss position; no profit.
Subrogation - ANSWER Insurer recovers from at-fault third party after paying the
claim.
Occurrence Policy - ANSWER Coverage triggered by when loss happened (within
policy period).
Claims-Made Policy - ANSWER Coverage triggered by when claim is reported
(and after retro date).
Retroactive Date - ANSWER Earliest date a loss can occur and be covered under
Claims-Made.
Tail Coverage - ANSWER Extended reporting period after Claims-Made policy
ends.
,ACV - ANSWER Replacement cost minus depreciation.
RCV - ANSWER New-for-old; no depreciation.
Proof of Loss - ANSWER Sworn statement of claim details; typically due within
60 days of insurer request.
Reservation of Rights - ANSWER Insurer notice: investigating; coverage may be
denied.
Reg 64 - Acknowledge - ANSWER 15 business days.
Reg 64 - Accept/Deny - ANSWER 15 business days after required docs.
Reg 64 - Pay After Settlement - ANSWER 5 business days.
Public Adjuster - ANSWER Represents the insured.
Independent Adjuster - ANSWER Represents the insurer.
PIP (NY) - ANSWER No-fault benefits: medical + wage loss regardless of fault.
MedPay - ANSWER Optional limited medical coverage (not no-fault).
HO-2 Broad Form - ANSWER Named peril coverage for both dwelling/other
structures and personal property (Broad Form). RCV for dwelling, ACV for
contents.
, HO-3 Special Form - ANSWER Dwelling and other structures = Open Peril
(Special); personal property = Named Peril (Broad).
HO-5 Comprehensive Form - ANSWER Open Peril coverage for both
dwelling/other structures and personal property. RCV on everything.
HO-4 Renters Form - ANSWER Broad Named Peril coverage for tenant's
personal property only (no dwelling coverage).
HO-6 Condo Form - ANSWER Broad Named Peril coverage for condo unit
interiors (walls, floors, built-ins) and personal property.
HO-8 Modified Form - ANSWER Basic Named Peril coverage for older/historic
homes; both dwelling and contents. ACV only.
HO-2 Broad Form designed for - ANSWER Standard homeowners with 1-4
family owner-occupied dwellings.
HO-3 Special Form designed for - ANSWER The most common homeowners
form for owner-occupied houses.
HO-5 Comprehensive Form designed for - ANSWER Newer or high-value homes
needing broadest protection.
HO-4 Renters Form designed for - ANSWER Tenants who rent apartments or
houses; it covers belongings, not the building.
