NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR -
SERIES 17-64 EXAM COMPLETE QUESTIONS AND CORRECT
ANSWERS (NEW)
Mason's business facility was destroyed by fire, costing him $42,000. The
building has been unoccupied for 74 days and is protected under the Building &
Personal Property coverage form. If the building had been occupied, the
insurance would have covered the full loss; but, since the insured building was
deemed vacant, what will they pay?
$28,980. $42,000.
$35,700. $6,300. The response Because the facility was deemed vacant, a 15%
deduction is made from the claims payout for a loss that would otherwise be
fully covered. $6,300 is 15% of $42,000. The insured would get $35,700 if
$6,300 were deducted from $42,000.
While an adjuster's application is pending, the Superintendent of Insurance may
provide a _____ temporary permit to an individual to adjust claims.
6-month, 30-day, 1-year, and 120-day ANSWER
If a person is barred from conducting business in a state under the Federal
Insurance Fraud and False Statements Act, authorization to restart doing so
must be given by:
submitting and receiving approval from a state insurance regulatory official for
a 1033 waiver form.
the Attorney General of the State.
Secretary of State of the United States.
The Treasury Secretary of the United States. The response submitting and
receiving approval from a state insurance regulatory official for a 1033 waiver
form.
Losses to homes that were unoccupied for more than _____ days prior to the
loss are not covered by the Dwelling endorsement for Broad Theft Coverage.
forty-five days.
60 days.
, 30 days.
90 days. 60 days to respond
Which of the following is included in the endorsement to the homeowner
insurance for water that backs up through a drain or sewer, including
mechanical breakdown of a sump pump?
An additional specified coverage limit
For covered losses, a distinct stated deductible
Both responses are accurate.
Neither response is accurate. Both responses are accurate.
Copies of the cybersecurity regulation must be sent to all of the following by
every New York insurer, with the exception of:
Anyone overseeing the processing of claims.
Anyone who is directly in charge of managing claims.
Anyone who is personally in charge of settling claims.
Anybody who might sell an insurance coverage. The response Anybody who
might sell an insurance coverage.
A Business Income form is part of the Commercial Property coverage that
Manny is buying. Manny can choose from any of the following options to offer
coverage without having to pay coinsurance, with the exception of:
the most amount that indemnity optional coverage can pay each month.
The longest duration of indemnity.
The indemnity limit per month.
agreed upon value. The response the most amount that indemnity optional
coverage can pay each month.
There is no maximum monthly restriction for optional indemnity coverage. The
remaining three response options are all ways to obtain coverage under a
Business Income form that allow an insured to evade the need for coinsurance.)
Vandalism and malicious mischief are covered by the standardized
homeowner's forms only if the building hasn't been unoccupied for:
45 days prior to the loss.
30 days or longer in a row when the loss happens.
60 or more days in a row after the loss happens.
90 days before the loss occurred. The response 60 or more days in a row after
the loss happens.
SERIES 17-64 EXAM COMPLETE QUESTIONS AND CORRECT
ANSWERS (NEW)
Mason's business facility was destroyed by fire, costing him $42,000. The
building has been unoccupied for 74 days and is protected under the Building &
Personal Property coverage form. If the building had been occupied, the
insurance would have covered the full loss; but, since the insured building was
deemed vacant, what will they pay?
$28,980. $42,000.
$35,700. $6,300. The response Because the facility was deemed vacant, a 15%
deduction is made from the claims payout for a loss that would otherwise be
fully covered. $6,300 is 15% of $42,000. The insured would get $35,700 if
$6,300 were deducted from $42,000.
While an adjuster's application is pending, the Superintendent of Insurance may
provide a _____ temporary permit to an individual to adjust claims.
6-month, 30-day, 1-year, and 120-day ANSWER
If a person is barred from conducting business in a state under the Federal
Insurance Fraud and False Statements Act, authorization to restart doing so
must be given by:
submitting and receiving approval from a state insurance regulatory official for
a 1033 waiver form.
the Attorney General of the State.
Secretary of State of the United States.
The Treasury Secretary of the United States. The response submitting and
receiving approval from a state insurance regulatory official for a 1033 waiver
form.
Losses to homes that were unoccupied for more than _____ days prior to the
loss are not covered by the Dwelling endorsement for Broad Theft Coverage.
forty-five days.
60 days.
, 30 days.
90 days. 60 days to respond
Which of the following is included in the endorsement to the homeowner
insurance for water that backs up through a drain or sewer, including
mechanical breakdown of a sump pump?
An additional specified coverage limit
For covered losses, a distinct stated deductible
Both responses are accurate.
Neither response is accurate. Both responses are accurate.
Copies of the cybersecurity regulation must be sent to all of the following by
every New York insurer, with the exception of:
Anyone overseeing the processing of claims.
Anyone who is directly in charge of managing claims.
Anyone who is personally in charge of settling claims.
Anybody who might sell an insurance coverage. The response Anybody who
might sell an insurance coverage.
A Business Income form is part of the Commercial Property coverage that
Manny is buying. Manny can choose from any of the following options to offer
coverage without having to pay coinsurance, with the exception of:
the most amount that indemnity optional coverage can pay each month.
The longest duration of indemnity.
The indemnity limit per month.
agreed upon value. The response the most amount that indemnity optional
coverage can pay each month.
There is no maximum monthly restriction for optional indemnity coverage. The
remaining three response options are all ways to obtain coverage under a
Business Income form that allow an insured to evade the need for coinsurance.)
Vandalism and malicious mischief are covered by the standardized
homeowner's forms only if the building hasn't been unoccupied for:
45 days prior to the loss.
30 days or longer in a row when the loss happens.
60 or more days in a row after the loss happens.
90 days before the loss occurred. The response 60 or more days in a row after
the loss happens.
