NY General Adjuster Test (10-70) Latest 2023 with
complete solution
12/1 - even numbered yrs
On what date does an adjuster's license need to be renewed?
$1,000
What is the amount of bond that must be posted to obtain and adjuster's license?
Not until hearing held
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
Example of unfair claim settlement act
Failing to acknowledge within a reasonable time, communications w/ respect to claims
arising out of the insurer's policies
An ins regulatory official such as Superintendent of Insurance
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
To provide some form of compulsory insurance
What is the reason for the NY financial responsibility law?
Is a mandatory coverage
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
The insured's property damage 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
Who must belong to the assigned risk plan?
All admitted auto insurers selling auto insurance in NY
Covers the employer when the employee is using their vehicle on company
business.
What does the employer's non-ownership coverage cover?Covers the employer when
the employee is using their vehicle on company business.
Pain & Suffering
Which is not covered under worker's comp coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses
The court
Who makes a declaratory judgment as to the merits of a claim?
a. claims adj b. insurer attorney c. court d. claimants attorney
Vicarious
What type of liability does an employer assume through their employees? a. primary b.
contingent c. vicarious d. no fault
The insuring agreement
, 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
At the time of the loss
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
Definition of consideration
Something that has value in the eyes of the law in which a promise receives something
in return for a promise
Aleatory
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
Violent act that is dangerous to human life and property
What constitutes an act of terrorism
Losses over $5,000,000
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
Act of terrorism & covered under Terrorism Risk Act of 2002, act must be
committed by?
Individual(s) acting on behalf of any foreign person or interest in an effort to coerce the
civilian pop. of USA
A friend helping insured lay carpet
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
Homeowner policy
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
An abrupt falling down or caving in of the structure
Under new 2000 homeowner forms, what is definition of collapse?
A golf cart used to play golf off insured's premises
Which of the following would be covered under the HO policy of liability? a. golf cart
used to play golf on premises b. unlicensed recreational dirt bike used in state park c.
50 hp motor boat owned by insured d. antique car used in parade
When stored on the insured's premises in a garage
Under what circumstances would the liability section of the homeowner policy cover an
inboard motor boat owned by the insured? a. when used on fresh water rivers & lakes b.
when hp is 25hp or less c. when stored in garage on premises d. when loaned to friend
Lightning
Which of the following would be covered under the other than collision coverage of a
personal auto policy? a. wear & tear
b. freezing c. punctured tire d. lightning
Pickup truck used in any business
complete solution
12/1 - even numbered yrs
On what date does an adjuster's license need to be renewed?
$1,000
What is the amount of bond that must be posted to obtain and adjuster's license?
Not until hearing held
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
Example of unfair claim settlement act
Failing to acknowledge within a reasonable time, communications w/ respect to claims
arising out of the insurer's policies
An ins regulatory official such as Superintendent of Insurance
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
To provide some form of compulsory insurance
What is the reason for the NY financial responsibility law?
Is a mandatory coverage
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
The insured's property damage 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
Who must belong to the assigned risk plan?
All admitted auto insurers selling auto insurance in NY
Covers the employer when the employee is using their vehicle on company
business.
What does the employer's non-ownership coverage cover?Covers the employer when
the employee is using their vehicle on company business.
Pain & Suffering
Which is not covered under worker's comp coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses
The court
Who makes a declaratory judgment as to the merits of a claim?
a. claims adj b. insurer attorney c. court d. claimants attorney
Vicarious
What type of liability does an employer assume through their employees? a. primary b.
contingent c. vicarious d. no fault
The insuring agreement
, 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
At the time of the loss
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
Definition of consideration
Something that has value in the eyes of the law in which a promise receives something
in return for a promise
Aleatory
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
Violent act that is dangerous to human life and property
What constitutes an act of terrorism
Losses over $5,000,000
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
Act of terrorism & covered under Terrorism Risk Act of 2002, act must be
committed by?
Individual(s) acting on behalf of any foreign person or interest in an effort to coerce the
civilian pop. of USA
A friend helping insured lay carpet
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
Homeowner policy
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
An abrupt falling down or caving in of the structure
Under new 2000 homeowner forms, what is definition of collapse?
A golf cart used to play golf off insured's premises
Which of the following would be covered under the HO policy of liability? a. golf cart
used to play golf on premises b. unlicensed recreational dirt bike used in state park c.
50 hp motor boat owned by insured d. antique car used in parade
When stored on the insured's premises in a garage
Under what circumstances would the liability section of the homeowner policy cover an
inboard motor boat owned by the insured? a. when used on fresh water rivers & lakes b.
when hp is 25hp or less c. when stored in garage on premises d. when loaned to friend
Lightning
Which of the following would be covered under the other than collision coverage of a
personal auto policy? a. wear & tear
b. freezing c. punctured tire d. lightning
Pickup truck used in any business
