NY General Adjuster Test (10-70)
UPDATED Exam Questions and
CORRECT Answers
12/1 - even numbered yrs - Correct Answer- On what date does an adjuster's license need to
be renewed?
$1,000 - Correct Answer- What is the amount of bond that must be posted to obtain and
adjuster's license?
Not until hearing held - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- What is the reason for the
NY financial responsibility law?
Is a mandatory coverage - Correct Answer- 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 - Correct Answer- 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? - Correct Answer- All admitted auto insurers
selling auto insurance in NY
Covers the employer when the employee is using their vehicle on company business. -
Correct Answer- What does the employer's non-ownership coverage cover?Covers the
employer when the employee is using their vehicle on company business.
Pain & Suffering - Correct Answer- Which is not covered under worker's comp coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses
The court - Correct Answer- Who makes a declaratory judgment as to the merits of a claim?
a. claims adj b. insurer attorney c. court d. claimants attorney
Vicarious - Correct Answer- What type of liability does an employer assume through their
employees? a. primary b. contingent c. vicarious d. no fault
The insuring agreement - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- Something that has value in the eyes of the law
in which a promise receives something in return for a promise
Aleatory - Correct Answer- 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 - Correct Answer- What constitutes
an act of terrorism
, Losses over $5,000,000 - Correct Answer- 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? -
Correct Answer- 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 - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- Under new 2000
homeowner forms, what is definition of collapse?
A golf cart used to play golf off insured's premises - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- 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
UPDATED Exam Questions and
CORRECT Answers
12/1 - even numbered yrs - Correct Answer- On what date does an adjuster's license need to
be renewed?
$1,000 - Correct Answer- What is the amount of bond that must be posted to obtain and
adjuster's license?
Not until hearing held - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- What is the reason for the
NY financial responsibility law?
Is a mandatory coverage - Correct Answer- 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 - Correct Answer- 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? - Correct Answer- All admitted auto insurers
selling auto insurance in NY
Covers the employer when the employee is using their vehicle on company business. -
Correct Answer- What does the employer's non-ownership coverage cover?Covers the
employer when the employee is using their vehicle on company business.
Pain & Suffering - Correct Answer- Which is not covered under worker's comp coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses
The court - Correct Answer- Who makes a declaratory judgment as to the merits of a claim?
a. claims adj b. insurer attorney c. court d. claimants attorney
Vicarious - Correct Answer- What type of liability does an employer assume through their
employees? a. primary b. contingent c. vicarious d. no fault
The insuring agreement - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- Something that has value in the eyes of the law
in which a promise receives something in return for a promise
Aleatory - Correct Answer- 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 - Correct Answer- What constitutes
an act of terrorism
, Losses over $5,000,000 - Correct Answer- 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? -
Correct Answer- 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 - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- Under new 2000
homeowner forms, what is definition of collapse?
A golf cart used to play golf off insured's premises - Correct Answer- 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 - Correct Answer- 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 - Correct Answer- 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
