New York Adjuster Exam Questions and
Answers Already Passed
Offering any return of premium, valuable consideration or inducement when purchasing an
insurance policy is an example of: ✔✔I. Illegal Inducement
II. Rebating
Under a watercraft or yacht policy how claims are settled: ✔✔Actual cash value
When may an insured sue an insurance company? ✔✔Not until the insured has complied with all
policy provisions and within the time limit specified in the state laws
What is the definition of a non-resident agent? ✔✔Someone licensed in their state and obtains a
license in another state to solicit insurance business in that state. is correct.
The court awards a judgment against the insured for $300,000 plus $10,000 of accrued interest
and the legal fees amount to an additional $35,000. Our insured has a $300,000 liability limit on
the policy. How much will be paid by the policy? ✔✔The correct answer is: $345,000.
Explanation:
, The $10,000 of accrued pre judgment interest and the $35,000 cost of the defense are all payable
as additional coverage on the policy. These amounts have no affect on the limit of liability
available in a judgment against the insured. So the entire amount of $345,000 is payable in this
case.
The minimum coverage required in New York for uninsured motorists bodily injury is: ✔✔The
correct answer is: $25,000 per person, $50,000 per accident. .
Explanation:
New York state law established the minimum coverage limits of $25,000 per person, $50,000 per
accident and up to $50,000 per person, and $100,000 per accident for death.
If an insured wishes to cover the mobile home while it is being transported from one location to
another would: ✔✔Purchase the Mobile Home Transportation Coverage Endorsement on the
homeowner policy
The workers compensation policy language is written by the: ✔✔National Council on
Compensation Insurance (NCCI)
When a homeowners policy has been in effect for 60 days in New York, an insurer can cancel at
anytime for any of the following reasons, EXCEPT: ✔✔A large loss has occurred
Answers Already Passed
Offering any return of premium, valuable consideration or inducement when purchasing an
insurance policy is an example of: ✔✔I. Illegal Inducement
II. Rebating
Under a watercraft or yacht policy how claims are settled: ✔✔Actual cash value
When may an insured sue an insurance company? ✔✔Not until the insured has complied with all
policy provisions and within the time limit specified in the state laws
What is the definition of a non-resident agent? ✔✔Someone licensed in their state and obtains a
license in another state to solicit insurance business in that state. is correct.
The court awards a judgment against the insured for $300,000 plus $10,000 of accrued interest
and the legal fees amount to an additional $35,000. Our insured has a $300,000 liability limit on
the policy. How much will be paid by the policy? ✔✔The correct answer is: $345,000.
Explanation:
, The $10,000 of accrued pre judgment interest and the $35,000 cost of the defense are all payable
as additional coverage on the policy. These amounts have no affect on the limit of liability
available in a judgment against the insured. So the entire amount of $345,000 is payable in this
case.
The minimum coverage required in New York for uninsured motorists bodily injury is: ✔✔The
correct answer is: $25,000 per person, $50,000 per accident. .
Explanation:
New York state law established the minimum coverage limits of $25,000 per person, $50,000 per
accident and up to $50,000 per person, and $100,000 per accident for death.
If an insured wishes to cover the mobile home while it is being transported from one location to
another would: ✔✔Purchase the Mobile Home Transportation Coverage Endorsement on the
homeowner policy
The workers compensation policy language is written by the: ✔✔National Council on
Compensation Insurance (NCCI)
When a homeowners policy has been in effect for 60 days in New York, an insurer can cancel at
anytime for any of the following reasons, EXCEPT: ✔✔A large loss has occurred
