NY Independent General
Adjuster Exam - Series 17-70|
187 Questions and Detailed
Answers|Verified
Dram Shop Liability refers to: - -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? - -Neglect.
-To be eligible for the New York assigned risk auto plan a person must: -
-Hold a valid driver's license.
-Any insurance adjuster whose license has been revoked for cause will
not be entitled to apply for any other insurance license in New York until
at least: - -One Year.
-A typical benefit design for a long term care policy does not include a:
- -Conditionally or optionally renewability feature.
-In New York the workers compensation program is administered by the
Workers Compensation 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? - -30 Days.
-A common carrier is not held liable for the loss of a shipper's goods
when the loss results from: - -An Act of God.
-If one is found guilty of federal insurance fraud, who can permit the
guilty individual to return to the insurance business? - -Only an
insurance regulatory official.
-When is a passenger first covered under an aircraft policy? - -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? - -$1,000 if the flood
is imminent and the property is in danger of flooding.
-Which Commercial Forms would cover sinkhole collapse? - -Basic,
Broad, and Special.
, -______ is a movement allowed by certain joints of the skeleton that
decreases the angle between two adjoining bones. - -Flexion
-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appointment or participation of any person whose license has been
revoked.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.
-Does a flat deductible apply to basic scheduled dental plans? - -No.
-With crop insurance policies, the coverage period is usually: - -Limited
to the growing period for the particular crop being insured.
-What does an employer's non-ownership coverage under the BAP
cover? - -Covers the employer when the employee is using their vehicle
on company business.
Adjuster Exam - Series 17-70|
187 Questions and Detailed
Answers|Verified
Dram Shop Liability refers to: - -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? - -Neglect.
-To be eligible for the New York assigned risk auto plan a person must: -
-Hold a valid driver's license.
-Any insurance adjuster whose license has been revoked for cause will
not be entitled to apply for any other insurance license in New York until
at least: - -One Year.
-A typical benefit design for a long term care policy does not include a:
- -Conditionally or optionally renewability feature.
-In New York the workers compensation program is administered by the
Workers Compensation 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? - -30 Days.
-A common carrier is not held liable for the loss of a shipper's goods
when the loss results from: - -An Act of God.
-If one is found guilty of federal insurance fraud, who can permit the
guilty individual to return to the insurance business? - -Only an
insurance regulatory official.
-When is a passenger first covered under an aircraft policy? - -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? - -$1,000 if the flood
is imminent and the property is in danger of flooding.
-Which Commercial Forms would cover sinkhole collapse? - -Basic,
Broad, and Special.
, -______ is a movement allowed by certain joints of the skeleton that
decreases the angle between two adjoining bones. - -Flexion
-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.
-Does a flat deductible apply to basic scheduled dental plans? - -No.
-With crop insurance policies, the coverage period is usually: - -Limited
to the growing period for the particular crop being insured.
-What does an employer's non-ownership coverage under the BAP
cover? - -Covers the employer when the employee is using their vehicle
on company business.
