NY General Adjuster test

All of the following are eligible for group long term care insurance, EXCEPT: Answer Choices: Select the Correct Answer A group formed as a cooperative to buy insurance at a discount. One or more employer or labor organizations for the benefit of the employees. Any professional, trade or occupational association for the benefit of their bona fide members or retirees. A trust established or maintained for the benefit of members of a qualifying association. A group formed as a cooperative to buy insurance at a discount is correct. In case of a loss, how many days notice does the insured have after notification of a claim to submit the claim to the underwriters of the ocean marine coverage? 60 Days 90 Days 120 Days 180 Days 180 days is correct. What are the unique features of the Businessowners policy form? Answer Choices: It provides owned auto and ocean marine coverage The premium is adjustable and is based on number of employees The property coverage is open peril with no coinsurance requirement It has fewer exclusions The property coverage is open peril with no coinsurance requirement is correct. A named peril aviation policy would cover all of the following, EXCEPT: Answer Choices: Flood Theft Stationary land damage Windstorm Flood is correct. After completing an inspection of an insured's pressure equipment and fire suppression systems, the inspector determines that the pressure equipment needs to be repaired and the suppression systems have not been cleaned and inspected in the time frame required by the policy. The insurer will: Answer Choices: Select the Correct Answer Give notice to the insured to make the repairs within 24 hours Require the insured to send copies of the cleaning and repairs to the underwriter Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass reinspection Reduce coverage in case of loss by 25% Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass reinspection is correct. What is the maximum period of time that coverage applies under civil authority business income coverage under the BOP? 4 weeks is correct. Which of the following statements is true with respect to symbol 1 used in the BAP declarations? Answer Choices: Select the Correct Answer It is used only for liability coverage. It identifies owned and hired autos only. When it is used to identify covered auto, 30 days' notice to the insurer is required to arrange coverage on newly acquired autos. When it is used, the covered autos must be specifically described. It is used only for liability coverage. is correct. How are household personal property claims settled under the farm policy? Answer Choices: Select the Correct Answer Replacement cost Market value Replacement cost if insured 80% to value Actual cash value Actual cash value is correct. Claims under farm policies for household personal property will be settled on an actual cash value basis similar to the homeowner policy. An endorsement for replacement cost settlement is available for additional premium. A commercial umbrella liability policy would usually cover which of the following situations? Answer Choices: Select the Correct A