NY GENERAL ADJUSTER (10-70) TEST 165
QUESTIONS & CORRECT ANSWERS LATEST 2025
On what date does an adjuster's license need to be renewed? - ANSWER-12/1 -
even numbered yrs
What is the amount of bond that must be posted to obtain and adjuster's license?
- ANSWER-$1,000
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 - ANSWER-Not until hearing held
Failing to acknowledge within a reasonable time, communications w/ respect to
claims arising out of the insurer's policies - ANSWER-Example of unfair claim
settlement act
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 - ANSWER-An ins
regulatory official such as Superintendent of Insurance
What is the reason for the NY financial responsibility law? - ANSWER-To provide
some form of compulsory insurance
,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 - ANSWER-Is a
mandatory coverage
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 - ANSWER-The insured's property damage
coverage
All admitted auto insurers selling auto insurance in NY - ANSWER-Who must
belong to the assigned risk plan?
What does the employer's non-ownership coverage cover?Covers the employer
when the employee is using their vehicle on company business. - ANSWER-Covers
the employer when the employee is using their vehicle on company business.
Which is not covered under worker's comp coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses -
ANSWER-Pain & Suffering
Who makes a declaratory judgment as to the merits of a claim?
a. claims adj b. insurer attorney c. court d. claimants attorney - ANSWER-The
court
What type of liability does an employer assume through their employees? a.
primary b. contingent c. vicarious d. no fault - ANSWER-Vicarious
, 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 - ANSWER-The insuring agreement
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 - ANSWER-At the time of the loss
Something that has value in the eyes of the law in which a promise receives
something in return for a promise - ANSWER-Definition of consideration
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 - ANSWER-Aleatory
What constitutes an act of terrorism - ANSWER-Violent act that is dangerous to
human life and property
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 - ANSWER-
Losses over $5,000,000
Individual(s) acting on behalf of any foreign person or interest in an effort to
coerce the civilian pop. of USA - ANSWER-Act of terrorism & covered under
Terrorism Risk Act of 2002, act must be committed by?
Who would be covered under homeowner med payments?
QUESTIONS & CORRECT ANSWERS LATEST 2025
On what date does an adjuster's license need to be renewed? - ANSWER-12/1 -
even numbered yrs
What is the amount of bond that must be posted to obtain and adjuster's license?
- ANSWER-$1,000
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 - ANSWER-Not until hearing held
Failing to acknowledge within a reasonable time, communications w/ respect to
claims arising out of the insurer's policies - ANSWER-Example of unfair claim
settlement act
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 - ANSWER-An ins
regulatory official such as Superintendent of Insurance
What is the reason for the NY financial responsibility law? - ANSWER-To provide
some form of compulsory insurance
,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 - ANSWER-Is a
mandatory coverage
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 - ANSWER-The insured's property damage
coverage
All admitted auto insurers selling auto insurance in NY - ANSWER-Who must
belong to the assigned risk plan?
What does the employer's non-ownership coverage cover?Covers the employer
when the employee is using their vehicle on company business. - ANSWER-Covers
the employer when the employee is using their vehicle on company business.
Which is not covered under worker's comp coverage?
a. med expenses b. pain & suffering c. loss of wages d. funeral expenses -
ANSWER-Pain & Suffering
Who makes a declaratory judgment as to the merits of a claim?
a. claims adj b. insurer attorney c. court d. claimants attorney - ANSWER-The
court
What type of liability does an employer assume through their employees? a.
primary b. contingent c. vicarious d. no fault - ANSWER-Vicarious
, 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 - ANSWER-The insuring agreement
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 - ANSWER-At the time of the loss
Something that has value in the eyes of the law in which a promise receives
something in return for a promise - ANSWER-Definition of consideration
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 - ANSWER-Aleatory
What constitutes an act of terrorism - ANSWER-Violent act that is dangerous to
human life and property
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 - ANSWER-
Losses over $5,000,000
Individual(s) acting on behalf of any foreign person or interest in an effort to
coerce the civilian pop. of USA - ANSWER-Act of terrorism & covered under
Terrorism Risk Act of 2002, act must be committed by?
Who would be covered under homeowner med payments?
