NY Insurance Adjuster Exam UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Under the farm forms, the maximum amount payable for a loss to a satellite dish is: - CORRECT
ANSWER The correct answer is: $1,000..
The State Insurance Fund provides workers compensation coverage for which of the following? -
CORRECT ANSWER The fund is for both those employers unable to obtain coverage and
those purchasing coverage in the competitive market.
Part I of the Workers Compensation Employer Liability Insurance Policy describes - CORRECT
ANSWER The insurer's duty to pay promptly, when due, the benefits required of the
employer by the workers compensation statute
Vision care insurance policies most often cover: - CORRECT ANSWER The cost of lenses
and frames. .
John Smith has just made his last car payment which concludes his contract. The finance
company, for reasons not immediately apparent, has the car repossessed. If Mr. Smith brings a
suit, the court will allow Mr. Smith to retake possession of the car pending the court's final ruling
as to ownership if Mr. Smith provides the court a: - CORRECT ANSWER Replevin bond..
A replevin bond guarantees that if property is in the possession of party A is determined to
belong to party B and the court orders its return to party B, party A will do so. Party A would
first have to obtain an attachment bond, also required by the court, in case the property was
wrongfully repossessed.
What is the purpose of the "other insurance clause"? - CORRECT ANSWER To avoid over
payment of a claim.
, Typically, how are defense costs handled under an aviation policy? - CORRECT
ANSWER Handled as a supplementary payment.
Which of the following watercraft losses are excluded under a homeowner policy? I. Theft off
the residence premises II. Windstorm damage while the insured's boat is docked at the marina
III. Fading of the canvas tarp which covers a boat IV. Earthquake damage - CORRECT
ANSWER The correct answer is: I, II, III, and IV.
Replacement cost coverage is best defined as: - CORRECT ANSWER Replacement without
deduction for depreciation..
All of the following are excluded from garage policy liability coverage, EXCEPT: - CORRECT
ANSWER Injury or damage arising out of a motorboat the named insured keeps stored in the
back of his repair garage..
In New York no suit or action against the insurer for the recovery of any claim will be
sustainable in any court of law unless all of the requirements of the policy have been complied
with, unless commenced within ______ months next after inception of the loss. - CORRECT
ANSWER 24
In cases of comparative negligence, the proportional share of each party in the entire liability will
be based on: - CORRECT ANSWER Relative degree of fault
significant purpose of a reporting form under the dealer's physical damage coverage under the
garage policy? - CORRECT ANSWER To deal with changing values of autos held for sale. .
What is the limit that will be paid for the fire department service charge in the BOP form? -
CORRECT ANSWER : $2,500
The Personal Auto Policy, under Supplementary Payments: - CORRECT ANSWER Will pay
the insured up to $200 per day for loss of earnings due to testifying at a trial concerning an
accident caused by the insured.
ACTUAL Exam Questions and CORRECT
Answers
Under the farm forms, the maximum amount payable for a loss to a satellite dish is: - CORRECT
ANSWER The correct answer is: $1,000..
The State Insurance Fund provides workers compensation coverage for which of the following? -
CORRECT ANSWER The fund is for both those employers unable to obtain coverage and
those purchasing coverage in the competitive market.
Part I of the Workers Compensation Employer Liability Insurance Policy describes - CORRECT
ANSWER The insurer's duty to pay promptly, when due, the benefits required of the
employer by the workers compensation statute
Vision care insurance policies most often cover: - CORRECT ANSWER The cost of lenses
and frames. .
John Smith has just made his last car payment which concludes his contract. The finance
company, for reasons not immediately apparent, has the car repossessed. If Mr. Smith brings a
suit, the court will allow Mr. Smith to retake possession of the car pending the court's final ruling
as to ownership if Mr. Smith provides the court a: - CORRECT ANSWER Replevin bond..
A replevin bond guarantees that if property is in the possession of party A is determined to
belong to party B and the court orders its return to party B, party A will do so. Party A would
first have to obtain an attachment bond, also required by the court, in case the property was
wrongfully repossessed.
What is the purpose of the "other insurance clause"? - CORRECT ANSWER To avoid over
payment of a claim.
, Typically, how are defense costs handled under an aviation policy? - CORRECT
ANSWER Handled as a supplementary payment.
Which of the following watercraft losses are excluded under a homeowner policy? I. Theft off
the residence premises II. Windstorm damage while the insured's boat is docked at the marina
III. Fading of the canvas tarp which covers a boat IV. Earthquake damage - CORRECT
ANSWER The correct answer is: I, II, III, and IV.
Replacement cost coverage is best defined as: - CORRECT ANSWER Replacement without
deduction for depreciation..
All of the following are excluded from garage policy liability coverage, EXCEPT: - CORRECT
ANSWER Injury or damage arising out of a motorboat the named insured keeps stored in the
back of his repair garage..
In New York no suit or action against the insurer for the recovery of any claim will be
sustainable in any court of law unless all of the requirements of the policy have been complied
with, unless commenced within ______ months next after inception of the loss. - CORRECT
ANSWER 24
In cases of comparative negligence, the proportional share of each party in the entire liability will
be based on: - CORRECT ANSWER Relative degree of fault
significant purpose of a reporting form under the dealer's physical damage coverage under the
garage policy? - CORRECT ANSWER To deal with changing values of autos held for sale. .
What is the limit that will be paid for the fire department service charge in the BOP form? -
CORRECT ANSWER : $2,500
The Personal Auto Policy, under Supplementary Payments: - CORRECT ANSWER Will pay
the insured up to $200 per day for loss of earnings due to testifying at a trial concerning an
accident caused by the insured.
