NY Independent General Adjuster Exam 2023 | Questions and Answers 100% Correct) Graded A+

NY Independent General Adjuster Exam 2023 | Questions and Answers 100% Correct) Graded A+. The listing of the perils covered is found in which part of a homeowner policy? 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? No. The dog is property and would be consider property damage. The Superintendent of Insurance may approve the employment, appointment or participation of any person whose license has been revoked.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? Assume the relicensing is approved. Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at the airport and leaves the keys in the ignition. When he returns he finds that his car has been stolen. Later the car was discovered with severe collision damage. The airport carries Garagekeeper's Legal Liability coverage and Mr. Vickers carries Liability and Comprehensive coverage on his auto. What coverage would apply? Mr. Vickers comprehensive coverage. An automobile is polluting the environment. What engine component could be the primary cause? 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? 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? Yes. Fidelity bonds are typically written to be effective for a: Continuous term without an expiration date. One purpose of a deductible is to: 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? A 10 day notice. A ship owner wanting coverage in case crew members bring liability suits for injuries sustained while working would purchase: Protection and Indemnity Under workers compensation in New York, which of the following does not raise the premium based on it being a proportion of the charged premium? Premium Discount. What is an example of a moral hazard? Embezzlement If an insured is responsible for damaging a client's million dollar shipment of products, would this coverage be covered by the commercial umbrella liability coverage under BI and PD coverage? Yes. A homeowner with personal property insured for $60,000 had a fire which destroyed everything. The total value of the personal property at the time of the loss was only $50,000. What principle would be violated if her insurer paid her more than $50,000? Principle of Indemnity. What is the appropriate manner in which to sign a "release of all claims?" Must use full legal name. Jane becomes injured in an auto accident caused when she took her eyes off the road to send a text message on her cell phone. This is an example of a: Morale Hazard. The deductible on the Equipment Breakdown form can be stated in what 3 ways? Fixed Dollar Amount, Time Deductible, and Percentage of Loss. A car has had the front sheet metal replaced. The fender-to-door gap is wider on the passenger side than on the driver side and the hood appears out of alignment. Technician A says that only the hood latch is misaligned. Technician B says the front structure of the vehicle is not dimensionally correct. Who is right? Technician B only. A tenant leases space in a building. The tenant's space is damaged by fire. When will the commercial Property Policy pay for the damage? When the owner of the building submits proof of loss for the damage. Dwelling forms provide what amount of coverage for grave markers and mausoleums? Nothing. Homeowners form provide a limit of $5,000.