NY SERIES 17-52 ACTUAL EXAM 2024 NEWEST EXAM
180 QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT) /ALREADY GRADED A+
Dram Shop Liability refers to: - ANSWER: Liquor Law Liability.
The insured has suffered a covered loss under his DP-3 dwelling form. He fails to
protect the property from further loss. The additional loss that occurs as a result of
his inactions may be denied because of what clause in the policy? - ANSWER:
Neglect.
To be eligible for the New York assigned risk auto plan a person must: - ANSWER:
Hold a valid driver's license.
Any insurance adjuster whose license has been revoked for cause will not be entitled
to apply for any other insurance license in New York until at least: - ANSWER: One
Year.
A typical benefit design for a long term care policy does not include a: - ANSWER:
Conditionally or optionally renewability feature.
In New York the workers compensation program is administered by the Workers
Compensation Board which establishes guidelines for the program. Notice of injury
or death to a worker is required to be submitted to the employer within what period
of time? - ANSWER: 30 Days.
A common carrier is not held liable for the loss of a shipper's goods when the loss
results from: - ANSWER: An Act of God.
If one is found guilty of federal insurance fraud, who can permit the guilty individual
to return to the insurance business? - ANSWER: Only an insurance regulatory official.
When is a passenger first covered under an aircraft policy? - ANSWER: When
Entering the Aircraft.
If an insured takes precautionary measures to protect property from flood damage
such as creating a retaining wall of sand bags, how much coverage if any, will be
provided by a flood policy? - ANSWER: $1,000 if the flood is imminent and the
property is in danger of flooding.
Which Commercial Forms would cover sinkhole collapse? - ANSWER: Basic, Broad,
and Special.
______ is a movement allowed by certain joints of the skeleton that decreases the
angle between two adjoining bones. - ANSWER: Flexion
, The listing of the perils covered is found in which part of a homeowner policy? -
ANSWER: Insuring Agreement.
If a dog owned by a customer is injured in the parking lot of a store, is that
considered bodily injury under liability coverage? - ANSWER: No. The dog is property
and would be consider property damage.
The Superintendent of Insurance may approve the employment, appointment or
participation of any person whose license has been revoked. Karen Jones had her
license revoked and filed an application for relicensing and has waited over 120 days
without a response from the Insurance Department. What should or can she do? -
ANSWER: Assume the relicensing is approved.
Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at
the airport and leaves the keys in the ignition. When he returns he finds that his car
has been stolen. Later the car was discovered with severe collision damage. The
airport carries Garagekeeper's Legal Liability coverage and Mr. Vickers carries
Liability and Comprehensive coverage on his auto. What coverage would apply? -
ANSWER: Mr. Vickers comprehensive coverage.
An automobile is polluting the environment. What engine component could be the
primary cause? - ANSWER: Catalytic Converter Malfunction.
Under the dwelling policy, DP2 or D3, what is the maximum amount of Coverage A
that would be paid for additional living expenses? - ANSWER: 20%
Workers compensation policies also include employer's liability coverage. If any
employer fails to maintain the equipment and an employee is injured, would it be
covered under this coverage? - ANSWER: Yes.
Fidelity bonds are typically written to be effective for a: - ANSWER: Continuous term
without an expiration date.
One purpose of a deductible is to: - ANSWER: Eliminate small claims.
If the insured has failed to pay the premium for a worker compensation policy issued
in New York, how many days notice of cancellation must be sent to the insured? -
ANSWER: A 10 day notice.
A ship owner wanting coverage in case crew members bring liability suits for injuries
sustained while working would purchase: - ANSWER: Protection and Indemnity
Under workers compensation in New York, which of the following does not raise the
premium based on it being a proportion of the charged premium? - ANSWER:
Premium Discount.
What is an example of a moral hazard? - ANSWER: Embezzlement
180 QUESTIONS WITH DETAILED VERIFIED ANSWERS
(100% CORRECT) /ALREADY GRADED A+
Dram Shop Liability refers to: - ANSWER: Liquor Law Liability.
The insured has suffered a covered loss under his DP-3 dwelling form. He fails to
protect the property from further loss. The additional loss that occurs as a result of
his inactions may be denied because of what clause in the policy? - ANSWER:
Neglect.
To be eligible for the New York assigned risk auto plan a person must: - ANSWER:
Hold a valid driver's license.
Any insurance adjuster whose license has been revoked for cause will not be entitled
to apply for any other insurance license in New York until at least: - ANSWER: One
Year.
A typical benefit design for a long term care policy does not include a: - ANSWER:
Conditionally or optionally renewability feature.
In New York the workers compensation program is administered by the Workers
Compensation Board which establishes guidelines for the program. Notice of injury
or death to a worker is required to be submitted to the employer within what period
of time? - ANSWER: 30 Days.
A common carrier is not held liable for the loss of a shipper's goods when the loss
results from: - ANSWER: An Act of God.
If one is found guilty of federal insurance fraud, who can permit the guilty individual
to return to the insurance business? - ANSWER: Only an insurance regulatory official.
When is a passenger first covered under an aircraft policy? - ANSWER: When
Entering the Aircraft.
If an insured takes precautionary measures to protect property from flood damage
such as creating a retaining wall of sand bags, how much coverage if any, will be
provided by a flood policy? - ANSWER: $1,000 if the flood is imminent and the
property is in danger of flooding.
Which Commercial Forms would cover sinkhole collapse? - ANSWER: Basic, Broad,
and Special.
______ is a movement allowed by certain joints of the skeleton that decreases the
angle between two adjoining bones. - ANSWER: Flexion
, The listing of the perils covered is found in which part of a homeowner policy? -
ANSWER: Insuring Agreement.
If a dog owned by a customer is injured in the parking lot of a store, is that
considered bodily injury under liability coverage? - ANSWER: No. The dog is property
and would be consider property damage.
The Superintendent of Insurance may approve the employment, appointment or
participation of any person whose license has been revoked. Karen Jones had her
license revoked and filed an application for relicensing and has waited over 120 days
without a response from the Insurance Department. What should or can she do? -
ANSWER: Assume the relicensing is approved.
Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at
the airport and leaves the keys in the ignition. When he returns he finds that his car
has been stolen. Later the car was discovered with severe collision damage. The
airport carries Garagekeeper's Legal Liability coverage and Mr. Vickers carries
Liability and Comprehensive coverage on his auto. What coverage would apply? -
ANSWER: Mr. Vickers comprehensive coverage.
An automobile is polluting the environment. What engine component could be the
primary cause? - ANSWER: Catalytic Converter Malfunction.
Under the dwelling policy, DP2 or D3, what is the maximum amount of Coverage A
that would be paid for additional living expenses? - ANSWER: 20%
Workers compensation policies also include employer's liability coverage. If any
employer fails to maintain the equipment and an employee is injured, would it be
covered under this coverage? - ANSWER: Yes.
Fidelity bonds are typically written to be effective for a: - ANSWER: Continuous term
without an expiration date.
One purpose of a deductible is to: - ANSWER: Eliminate small claims.
If the insured has failed to pay the premium for a worker compensation policy issued
in New York, how many days notice of cancellation must be sent to the insured? -
ANSWER: A 10 day notice.
A ship owner wanting coverage in case crew members bring liability suits for injuries
sustained while working would purchase: - ANSWER: Protection and Indemnity
Under workers compensation in New York, which of the following does not raise the
premium based on it being a proportion of the charged premium? - ANSWER:
Premium Discount.
What is an example of a moral hazard? - ANSWER: Embezzlement
