NY INDEPENDENT GENERAL ADJUSTER EXAM - (SERIES 17-70) |
QUESTIONS AND ANSWERS | VERIFIED AND WELL DETAILED
ANSWERS | ALREADY GRADED A+ | LATEST EXAM
A person who procures an investigative consumer report on the consumer upon
request made by the consumer shall make a complete and accurate disclosure to
the consumer of the nature of the report and investigation within: - -
CORRECT ANSWER -in writing and mailed to the consumer within 5 days of
the request.
Which of the following best describes a pathological condition wherein a clot
forms within a blood vessel? - - CORRECT ANSWER -Thrombosis
What can be added by endorsement to an Equipment Breakdown Policy? - -
CORRECT ANSWER -Business Income.
Under the Farm Forms, which of the following is known as Coverage F? - -
CORRECT ANSWER -Unscheduled personal property.
Which of the following is NOT covered under employee dishonesty coverage? -
- CORRECT ANSWER -Robbery of an employee.
What does Employee Dishonesty Coverage cover? - - CORRECT ANSWER -
Pays losses resulting from dishonest acts committed by employees.
,Which of the following has the capability of binding an insurance coverage
through an oral or written agreement? - - CORRECT ANSWER -Property and
Casualty Producer.
What is Drive Other Car Coverage? - - CORRECT ANSWER -Owner of
business does not own an auto - gives coverage to owner.
Attempting to settle claims on the basis of an application which was altered
without notice to, or knowledge or consent of, the insured - is an example of: -
- CORRECT ANSWER -An unfair claims practice act.
How is property covered under an unendorsed BOP form? - - CORRECT
ANSWER -Open Peril.
What 2 additional coverages can be found on the DP2 and DP3 that are not
found on the DP1? - - CORRECT ANSWER -Collapse and
Lawns/Plants/Trees/Shrubs
If an insurer requires an application for reinstatement and it takes no action on
that application for , the policy is: - - CORRECT ANSWER -45
days/reinstated.
In a bond that has been in place and renewed for several years with the same
carrier, under the "loss sustained under previous insurance condition" which
,would respond to a claim that was just discovered but which actually happened
two years ago? - - CORRECT ANSWER -The current bond.
An insurer is required to acknowledge receipt of notice of a claim within: - -
CORRECT ANSWER -15 working days.
A building construction firm would have how much of a violation if the flood
wall was made with defective materials and after it collapses and it causes five
homes to get destroyed? -- CORRECT ANSWER -Civil Violation.
An endorsement is the name given to: - - CORRECT ANSWER -A
written amendment to an insurance policy.
A commercial inland marine condition that defines the insurer's subrogation
rights: - - CORRECT ANSWER - The insurer may recover from a third party
who is responsible for a covered loss.
Phil Smith, in helping his friend Tim Jones apply for a New York Casualty
Insurance license, attests to Tim's honesty on the application and competence to
handle the duties
of the license. Phil's statement must: - - CORRECT ANSWER -Submitted
with all documentation and applications to the state.
, Sam applied for, and was issued, a health insurance policy five years ago. At the
time of application his age was recorded as age 36 when in fact he was age 38.
Sam's policy contains a misstatement of age provision and he has a claim at age
42. How will this claim be handled? - - CORRECT ANSWER -Claim benefits
will be reduced.
What is is not covered under the Equipment Breakdown coverage form? - -
CORRECT ANSWER -The breakdown of any structure or materials
supporting the equipment.
When benefits are paid to a policyowner covered under a hospital expense
policy, the policy is considered a: - - CORRECT ANSWER -
Reimbursement Contract.
If the named insured's employees use their own vehicles to run errands, and the
named insured does not have commercial auto coverage, what coverage should
be added to the Businessowners Coverage Form? - - CORRECT ANSWER -
The Hired and Non-owned Auto Liability endorsement.
Commercial auto insurance applies to accidents or loss in all of the following
locations, except: - - CORRECT ANSWER -Mexico.
An insurance broker is an individual who represents: - - CORRECT
ANSWER -An insured or prospective insured.
QUESTIONS AND ANSWERS | VERIFIED AND WELL DETAILED
ANSWERS | ALREADY GRADED A+ | LATEST EXAM
A person who procures an investigative consumer report on the consumer upon
request made by the consumer shall make a complete and accurate disclosure to
the consumer of the nature of the report and investigation within: - -
CORRECT ANSWER -in writing and mailed to the consumer within 5 days of
the request.
Which of the following best describes a pathological condition wherein a clot
forms within a blood vessel? - - CORRECT ANSWER -Thrombosis
What can be added by endorsement to an Equipment Breakdown Policy? - -
CORRECT ANSWER -Business Income.
Under the Farm Forms, which of the following is known as Coverage F? - -
CORRECT ANSWER -Unscheduled personal property.
Which of the following is NOT covered under employee dishonesty coverage? -
- CORRECT ANSWER -Robbery of an employee.
What does Employee Dishonesty Coverage cover? - - CORRECT ANSWER -
Pays losses resulting from dishonest acts committed by employees.
,Which of the following has the capability of binding an insurance coverage
through an oral or written agreement? - - CORRECT ANSWER -Property and
Casualty Producer.
What is Drive Other Car Coverage? - - CORRECT ANSWER -Owner of
business does not own an auto - gives coverage to owner.
Attempting to settle claims on the basis of an application which was altered
without notice to, or knowledge or consent of, the insured - is an example of: -
- CORRECT ANSWER -An unfair claims practice act.
How is property covered under an unendorsed BOP form? - - CORRECT
ANSWER -Open Peril.
What 2 additional coverages can be found on the DP2 and DP3 that are not
found on the DP1? - - CORRECT ANSWER -Collapse and
Lawns/Plants/Trees/Shrubs
If an insurer requires an application for reinstatement and it takes no action on
that application for , the policy is: - - CORRECT ANSWER -45
days/reinstated.
In a bond that has been in place and renewed for several years with the same
carrier, under the "loss sustained under previous insurance condition" which
,would respond to a claim that was just discovered but which actually happened
two years ago? - - CORRECT ANSWER -The current bond.
An insurer is required to acknowledge receipt of notice of a claim within: - -
CORRECT ANSWER -15 working days.
A building construction firm would have how much of a violation if the flood
wall was made with defective materials and after it collapses and it causes five
homes to get destroyed? -- CORRECT ANSWER -Civil Violation.
An endorsement is the name given to: - - CORRECT ANSWER -A
written amendment to an insurance policy.
A commercial inland marine condition that defines the insurer's subrogation
rights: - - CORRECT ANSWER - The insurer may recover from a third party
who is responsible for a covered loss.
Phil Smith, in helping his friend Tim Jones apply for a New York Casualty
Insurance license, attests to Tim's honesty on the application and competence to
handle the duties
of the license. Phil's statement must: - - CORRECT ANSWER -Submitted
with all documentation and applications to the state.
, Sam applied for, and was issued, a health insurance policy five years ago. At the
time of application his age was recorded as age 36 when in fact he was age 38.
Sam's policy contains a misstatement of age provision and he has a claim at age
42. How will this claim be handled? - - CORRECT ANSWER -Claim benefits
will be reduced.
What is is not covered under the Equipment Breakdown coverage form? - -
CORRECT ANSWER -The breakdown of any structure or materials
supporting the equipment.
When benefits are paid to a policyowner covered under a hospital expense
policy, the policy is considered a: - - CORRECT ANSWER -
Reimbursement Contract.
If the named insured's employees use their own vehicles to run errands, and the
named insured does not have commercial auto coverage, what coverage should
be added to the Businessowners Coverage Form? - - CORRECT ANSWER -
The Hired and Non-owned Auto Liability endorsement.
Commercial auto insurance applies to accidents or loss in all of the following
locations, except: - - CORRECT ANSWER -Mexico.
An insurance broker is an individual who represents: - - CORRECT
ANSWER -An insured or prospective insured.
