NY Independent
General Adjuster Exam
- Series 17-70 Correct
QUESTIONS &
SOLUTIONS(LATEST
UPDATE 2024)
Dram Shop Liability refers to: - ANSWER 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? - ANSWER Neglect.
To be eligible for the New York assigned risk auto plan a person must: - ANSWER 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, Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any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: - ANSWER One Year.
A typical benefit design for a long term care policy does not include a: - ANSWER 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? - ANSWER 30 Days.
A common carrier is not held liable for the loss of a shipper's goods when the loss results from: -
ANSWER 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? - ANSWER Only an insurance regulatory official.
When is a passenger first covered under an aircraft policy? - ANSWER 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? - ANSWER
$1,000 if the flood is imminent and the property is in danger of flooding.
Which Commercial Forms would cover sinkhole collapse? - ANSWER Basic, Broad, and Special.
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? - ANSWER A 10 day notice.
A ship owner wanting coverage in case crew members bring liability suits for injuries sustained while
working would purchase: - ANSWER 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? - ANSWER Premium Discount.
, What is an example of a moral hazard? - ANSWER 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? - ANSWER
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? - ANSWER Principle of Indemnity.
What is the appropriate manner in which to sign a "release of all claims?" - ANSWER 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: - ANSWER Morale Hazard.
The deductible on the Equipment Breakdown form can be stated in what 3 ways? - ANSWER 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? - ANSWER 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? - ANSWER 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? - ANSWER
Nothing. Homeowners form provide a limit of $5,000.
Does a flat deductible apply to basic scheduled dental plans? - ANSWER No.
General Adjuster Exam
- Series 17-70 Correct
QUESTIONS &
SOLUTIONS(LATEST
UPDATE 2024)
Dram Shop Liability refers to: - ANSWER 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? - ANSWER Neglect.
To be eligible for the New York assigned risk auto plan a person must: - ANSWER 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: - ANSWER One Year.
A typical benefit design for a long term care policy does not include a: - ANSWER 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? - ANSWER 30 Days.
A common carrier is not held liable for the loss of a shipper's goods when the loss results from: -
ANSWER 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? - ANSWER Only an insurance regulatory official.
When is a passenger first covered under an aircraft policy? - ANSWER 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? - ANSWER
$1,000 if the flood is imminent and the property is in danger of flooding.
Which Commercial Forms would cover sinkhole collapse? - ANSWER Basic, Broad, and Special.
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? - ANSWER A 10 day notice.
A ship owner wanting coverage in case crew members bring liability suits for injuries sustained while
working would purchase: - ANSWER 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? - ANSWER Premium Discount.
, What is an example of a moral hazard? - ANSWER 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? - ANSWER
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? - ANSWER Principle of Indemnity.
What is the appropriate manner in which to sign a "release of all claims?" - ANSWER 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: - ANSWER Morale Hazard.
The deductible on the Equipment Breakdown form can be stated in what 3 ways? - ANSWER 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? - ANSWER 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? - ANSWER 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? - ANSWER
Nothing. Homeowners form provide a limit of $5,000.
Does a flat deductible apply to basic scheduled dental plans? - ANSWER No.
