New York Adjuster Exam 2025
Questions and Answers
The insured has moved into a dwelling that was being build and was covered by
the "Dwelling Under Construction" endorsement. How long does the insured have
to report his / her occupancy to the insurance company? - --Answer --30
days
When a New York Homeowners policy is still in the 60-day underwriting period,
the insurer may cancel it for any reason by providing a ______ notice. - --
Answer --30 day
Personal property that is covered under the Personal Property Replacement Cost
Endorsement is damaged and a claim has been filed. The replacement cost of the
property at the time of the loss is $2,500. The full cost to repair the property is
$2,000. The Coverage C limit of the Homeowners policy is $8,000. No special
limits apply to this property and there is no limit applied to the type of property
being claimed. Which of the following is the amount that will be paid under the
endorsement? - --Answer --2,000. The endorsement will pay the smallest
amount of the replacement cost at the time of the loss, the full repair cost, the
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,Coverage C limit, any applicable special limits, or the limit that applies to the type
of property being claimed.
The mandatory recoupment of the federal share through policyholder surcharges
under Terrorism Risk Insurance Program Reauthorization Act of 2015 was
increased from 133% to - --Answer --140%
A Building and Personal Property Coverage form provides coverage for all of the
following types of property, EXCEPT: - --Answer --Growing crops and
lawns.
The insured sets a fire to his home and is found to be guilty of arson. There is a
lien on the burned property by a mortgage company in the amount of $150,000.
The property is insured for $300,000 and is a total loss. The personal property of
the insured, covered separately by a Homeowners policy for $150,000, is also a
total loss. How will this claim most likely be paid? - --Answer --The
mortgagee is paid $150,000.
The Terrorism Risk Insurance Act and all of its extensions and reauthorizations is
actually an agreement between: - --Answer --Between the Federal
Government and the insurance companies.
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,The first effort to provide insurance for land transportation risks involved an
extension of ocean marine coverage known as the: - --Answer --"Warehouse
to warehouse" clause.
Which of the following is not a duty of an insurer in case of a loss? - --
Answer --Separate the damaged property from the undamaged property and
protect the property from further loss
An insured owns a set of six drawing pens designed and used by Benjamin
Franklin. Each pen is worth $1,000 alone, but the set is worth $12,000. One pen is
destroyed by a covered peril. Under the pair or set clause the insurance company
will pay a maximum of which of the following amounts? - --Answer --$7,000
Traditionally, the most common type of crop insurance sold prior to the creation
of the Multi-Peril Crop Insurance Program was: - --Answer --Coverage for
hail damage.
An adjuster's report that contains all the facts, evidence and disposition of the
claim and is considered to be the final report is known as the: - --Answer --
Full report.
The New York Superintendent of Insurance may refuse to renew, suspend or
revoke a license as a result of which of the following?
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, I. A violation of any provision of the New York Insurance Code.
II. A licensee making a material misstatement in application for license.
III. A licensee being found guilty of fraud or dishonest practices. - --
Answer --I, II and III
No insurer may issue checks or drafts or partial settlement of a loss or claim that is
still being negotiated that: - --Answer --Releases the insurer from additional
liability.
The insured owns a two family dwelling and is covered under a Homeowner
policy. One of the units is rented. The insured also maintains a small incidental
business in the structure. In case of a covered loss, which of the following would
NOT be paid under Coverage D - Loss of Use? - --Answer --Loss of income
from the incidental business.
The adjuster bond required in New York is payable to: - --Answer --The
state of New York.
An earthquake and landslide has occurred and soon after a house insured on an
unendorsed HO-3 is damaged by fire and then an explosion. What would be
covered in this scenario? - --Answer --Only the resulting fire and explosion
damage would be covered
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 4
Questions and Answers
The insured has moved into a dwelling that was being build and was covered by
the "Dwelling Under Construction" endorsement. How long does the insured have
to report his / her occupancy to the insurance company? - --Answer --30
days
When a New York Homeowners policy is still in the 60-day underwriting period,
the insurer may cancel it for any reason by providing a ______ notice. - --
Answer --30 day
Personal property that is covered under the Personal Property Replacement Cost
Endorsement is damaged and a claim has been filed. The replacement cost of the
property at the time of the loss is $2,500. The full cost to repair the property is
$2,000. The Coverage C limit of the Homeowners policy is $8,000. No special
limits apply to this property and there is no limit applied to the type of property
being claimed. Which of the following is the amount that will be paid under the
endorsement? - --Answer --2,000. The endorsement will pay the smallest
amount of the replacement cost at the time of the loss, the full repair cost, the
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
,Coverage C limit, any applicable special limits, or the limit that applies to the type
of property being claimed.
The mandatory recoupment of the federal share through policyholder surcharges
under Terrorism Risk Insurance Program Reauthorization Act of 2015 was
increased from 133% to - --Answer --140%
A Building and Personal Property Coverage form provides coverage for all of the
following types of property, EXCEPT: - --Answer --Growing crops and
lawns.
The insured sets a fire to his home and is found to be guilty of arson. There is a
lien on the burned property by a mortgage company in the amount of $150,000.
The property is insured for $300,000 and is a total loss. The personal property of
the insured, covered separately by a Homeowners policy for $150,000, is also a
total loss. How will this claim most likely be paid? - --Answer --The
mortgagee is paid $150,000.
The Terrorism Risk Insurance Act and all of its extensions and reauthorizations is
actually an agreement between: - --Answer --Between the Federal
Government and the insurance companies.
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
,The first effort to provide insurance for land transportation risks involved an
extension of ocean marine coverage known as the: - --Answer --"Warehouse
to warehouse" clause.
Which of the following is not a duty of an insurer in case of a loss? - --
Answer --Separate the damaged property from the undamaged property and
protect the property from further loss
An insured owns a set of six drawing pens designed and used by Benjamin
Franklin. Each pen is worth $1,000 alone, but the set is worth $12,000. One pen is
destroyed by a covered peril. Under the pair or set clause the insurance company
will pay a maximum of which of the following amounts? - --Answer --$7,000
Traditionally, the most common type of crop insurance sold prior to the creation
of the Multi-Peril Crop Insurance Program was: - --Answer --Coverage for
hail damage.
An adjuster's report that contains all the facts, evidence and disposition of the
claim and is considered to be the final report is known as the: - --Answer --
Full report.
The New York Superintendent of Insurance may refuse to renew, suspend or
revoke a license as a result of which of the following?
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 3
, I. A violation of any provision of the New York Insurance Code.
II. A licensee making a material misstatement in application for license.
III. A licensee being found guilty of fraud or dishonest practices. - --
Answer --I, II and III
No insurer may issue checks or drafts or partial settlement of a loss or claim that is
still being negotiated that: - --Answer --Releases the insurer from additional
liability.
The insured owns a two family dwelling and is covered under a Homeowner
policy. One of the units is rented. The insured also maintains a small incidental
business in the structure. In case of a covered loss, which of the following would
NOT be paid under Coverage D - Loss of Use? - --Answer --Loss of income
from the incidental business.
The adjuster bond required in New York is payable to: - --Answer --The
state of New York.
An earthquake and landslide has occurred and soon after a house insured on an
unendorsed HO-3 is damaged by fire and then an explosion. What would be
covered in this scenario? - --Answer --Only the resulting fire and explosion
damage would be covered
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 4
