New York Adjuster Exam 2025
Questions and Answers
Offering any return of premium, valuable consideration or inducement when
purchasing an insurance policy is an example of: - --Answer --I. Illegal
Inducement
II. Rebating
Under a watercraft or yacht policy how claims are settled: - --Answer --
Actual cash value
When may an insured sue an insurance company? - --Answer --Not until the
insured has complied with all policy provisions and within the time limit specified
in the state laws
What is the definition of a non-resident agent? - --Answer --Someone
licensed in their state and obtains a license in another state to solicit insurance
business in that state. is correct.
The court awards a judgment against the insured for $300,000 plus $10,000 of
accrued interest and the legal fees amount to an additional $35,000. Our insured
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, has a $300,000 liability limit on the policy. How much will be paid by the policy? - -
-Answer --The correct answer is: $345,000.
Explanation:
The $10,000 of accrued pre judgment interest and the $35,000 cost of the defense
are all payable as additional coverage on the policy. These amounts have no affect
on the limit of liability available in a judgment against the insured. So the entire
amount of $345,000 is payable in this case.
The minimum coverage required in New York for uninsured motorists bodily
injury is: - --Answer --The correct answer is: $25,000 per person, $50,000 per
accident. .
Explanation:
New York state law established the minimum coverage limits of $25,000 per
person, $50,000 per accident and up to $50,000 per person, and $100,000 per
accident for death.
If an insured wishes to cover the mobile home while it is being transported from
one location to another would: - --Answer --Purchase the Mobile Home
Transportation Coverage Endorsement on the homeowner policy
The workers compensation policy language is written by the: - --Answer --
National Council on Compensation Insurance (NCCI)
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
Questions and Answers
Offering any return of premium, valuable consideration or inducement when
purchasing an insurance policy is an example of: - --Answer --I. Illegal
Inducement
II. Rebating
Under a watercraft or yacht policy how claims are settled: - --Answer --
Actual cash value
When may an insured sue an insurance company? - --Answer --Not until the
insured has complied with all policy provisions and within the time limit specified
in the state laws
What is the definition of a non-resident agent? - --Answer --Someone
licensed in their state and obtains a license in another state to solicit insurance
business in that state. is correct.
The court awards a judgment against the insured for $300,000 plus $10,000 of
accrued interest and the legal fees amount to an additional $35,000. Our insured
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1
, has a $300,000 liability limit on the policy. How much will be paid by the policy? - -
-Answer --The correct answer is: $345,000.
Explanation:
The $10,000 of accrued pre judgment interest and the $35,000 cost of the defense
are all payable as additional coverage on the policy. These amounts have no affect
on the limit of liability available in a judgment against the insured. So the entire
amount of $345,000 is payable in this case.
The minimum coverage required in New York for uninsured motorists bodily
injury is: - --Answer --The correct answer is: $25,000 per person, $50,000 per
accident. .
Explanation:
New York state law established the minimum coverage limits of $25,000 per
person, $50,000 per accident and up to $50,000 per person, and $100,000 per
accident for death.
If an insured wishes to cover the mobile home while it is being transported from
one location to another would: - --Answer --Purchase the Mobile Home
Transportation Coverage Endorsement on the homeowner policy
The workers compensation policy language is written by the: - --Answer --
National Council on Compensation Insurance (NCCI)
....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 2
