NEW YORK INDEPENDENT GENERAL ADJUSTER
EXAM SIMULATOR - SERIES 17-70 EXAM 170
QUESTIONS & CORRECT ANSWERS LATEST 2025
The insurance premium is not shown in the conditions section of the homeowner
policy. - ANSWER-Which of the following would NOT be found in the conditions
section of a homeowners insurance policy?
Subrogation rights
Duties of the insured
Insurance premium
Mortgagee clause
It is a blanket limit for covered autos.
EXPLANATION:
The dealer's physical damage limit would be done on a blanket limit basis. This
would apply to comprehensive and collision losses to the auto inventory of the
dealer. This is done because it is simply not practical to schedule each dealer
owned vehicle for physical damage. This is generally accomplished by the use of a
monthly reporting form. - ANSWER-Which of the following is true regarding
dealers physical damage coverage under a garage policy?
It is a blanket limit for covered autos.
It extends coverage to customers' autos.
It is an annual maximum limit for comprehensive and collision losses.
It is a maximum limit per auto.
,Bending over to pick up a box and hurting your back. is correct.
EXPLANATION:
Bending over to pick up a box and causing an injury is a work related injury and
not a disease. - ANSWER-Which of the following would not be considered an
occupational disease?
Black lung.
Mesothelioma.
Pulmonary fibrosis.
Bending over to pick up a box and hurting your back.
The correct answer is: The collapse must be such that the building can not be
used as intended.
EXPLANATION:
The definition of collapse in the policy is the "abrupt falling down or caving in of
the structure or part of the structure" and it must render the building as unusable
as intended. - ANSWER-Which of the following is correct in order for the
additional coverage of "collapse" to be available under special BOP?
The collapse must be such that the building can not be used as intended
The remaining part of the structure standing must be demolished
The remaining part of the structure must be judged unsound to rebuild on
The building must be leaning, settling or in danger of collapsing
EXPLANATION:
,Poultry is not eligible property under the livestock floater. - ANSWER-Which of the
following would not be eligible for coverage under a livestock floater?
Poultry
Cattle
Sheep
Swine
The correct answer is: Miscellaneous Type Vehicle endorsement.
EXPLANATION:
The Miscellaneous Type Vehicle endorsement can be used to cover motorhomes,
motorcycles, etc. - ANSWER-The insured owns a motorhome that is not covered
by the insured's Personal Auto policy. This vehicle can be added to the policy by
using which of the following endorsements?
Miscellaneous Type Vehicle endorsement
Special Type Vehicle endorsement
Recreational Vehicle endorsement
Motorhome endorsement
The correct answer is: six calendar years.
EXPLANATION:
Insurers are required to maintain complaint records for six calendar years. -
ANSWER-Insurers must maintain a complaint record for _________ after all
elements of the complaint are resolved and the file is closed.
, five years
three calendar years
one year
six calendar years
The correct answer is: $100,000.
EXPLANATION:
The most the policy will pay for any one single occurrence is $500,000. So that
amount would be payable for the first loss. Once paid that amount must be
subtracted from the Aggregate limit (the most available for all claims in the policy
year) leaving $500,000 remaining in the aggregate. The second claim is within the
occurrence limit and since there is enough left in the aggregate, the entire
$400,000 is payable. After subtracting the $400,000 loss from the remaining
aggregate, $100,000 is left to pay any and all future claims for the remainder of
the policy term. - ANSWER-A BOP policy has a $500,000 occurrence limit for
liability and a $1,000,000 aggregate limit. If claims for $600,000 and $400,000
have been filed in two separate incidents, how much coverage remains, if any, for
any future claims submitted during the policy term?
Answer Choices:
$500,000
-0-
$100,000
EXAM SIMULATOR - SERIES 17-70 EXAM 170
QUESTIONS & CORRECT ANSWERS LATEST 2025
The insurance premium is not shown in the conditions section of the homeowner
policy. - ANSWER-Which of the following would NOT be found in the conditions
section of a homeowners insurance policy?
Subrogation rights
Duties of the insured
Insurance premium
Mortgagee clause
It is a blanket limit for covered autos.
EXPLANATION:
The dealer's physical damage limit would be done on a blanket limit basis. This
would apply to comprehensive and collision losses to the auto inventory of the
dealer. This is done because it is simply not practical to schedule each dealer
owned vehicle for physical damage. This is generally accomplished by the use of a
monthly reporting form. - ANSWER-Which of the following is true regarding
dealers physical damage coverage under a garage policy?
It is a blanket limit for covered autos.
It extends coverage to customers' autos.
It is an annual maximum limit for comprehensive and collision losses.
It is a maximum limit per auto.
,Bending over to pick up a box and hurting your back. is correct.
EXPLANATION:
Bending over to pick up a box and causing an injury is a work related injury and
not a disease. - ANSWER-Which of the following would not be considered an
occupational disease?
Black lung.
Mesothelioma.
Pulmonary fibrosis.
Bending over to pick up a box and hurting your back.
The correct answer is: The collapse must be such that the building can not be
used as intended.
EXPLANATION:
The definition of collapse in the policy is the "abrupt falling down or caving in of
the structure or part of the structure" and it must render the building as unusable
as intended. - ANSWER-Which of the following is correct in order for the
additional coverage of "collapse" to be available under special BOP?
The collapse must be such that the building can not be used as intended
The remaining part of the structure standing must be demolished
The remaining part of the structure must be judged unsound to rebuild on
The building must be leaning, settling or in danger of collapsing
EXPLANATION:
,Poultry is not eligible property under the livestock floater. - ANSWER-Which of the
following would not be eligible for coverage under a livestock floater?
Poultry
Cattle
Sheep
Swine
The correct answer is: Miscellaneous Type Vehicle endorsement.
EXPLANATION:
The Miscellaneous Type Vehicle endorsement can be used to cover motorhomes,
motorcycles, etc. - ANSWER-The insured owns a motorhome that is not covered
by the insured's Personal Auto policy. This vehicle can be added to the policy by
using which of the following endorsements?
Miscellaneous Type Vehicle endorsement
Special Type Vehicle endorsement
Recreational Vehicle endorsement
Motorhome endorsement
The correct answer is: six calendar years.
EXPLANATION:
Insurers are required to maintain complaint records for six calendar years. -
ANSWER-Insurers must maintain a complaint record for _________ after all
elements of the complaint are resolved and the file is closed.
, five years
three calendar years
one year
six calendar years
The correct answer is: $100,000.
EXPLANATION:
The most the policy will pay for any one single occurrence is $500,000. So that
amount would be payable for the first loss. Once paid that amount must be
subtracted from the Aggregate limit (the most available for all claims in the policy
year) leaving $500,000 remaining in the aggregate. The second claim is within the
occurrence limit and since there is enough left in the aggregate, the entire
$400,000 is payable. After subtracting the $400,000 loss from the remaining
aggregate, $100,000 is left to pay any and all future claims for the remainder of
the policy term. - ANSWER-A BOP policy has a $500,000 occurrence limit for
liability and a $1,000,000 aggregate limit. If claims for $600,000 and $400,000
have been filed in two separate incidents, how much coverage remains, if any, for
any future claims submitted during the policy term?
Answer Choices:
$500,000
-0-
$100,000
