NY Independent General Insurance Adjuster Practice
NY Independent General Insurance Adjuster Practice
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NY Independent General Insurance Adjuster Practice Examination with Complete Solutions |Guarantee Pass|185 Q&A
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NY Independent General Insurance Adjuster Practice
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NY Independent General Insurance Adjuster Practice
NY Independent General Insurance Adjuster Practice Examination with Complete Solutions |Guarantee Pass|185 Q&A
What does a misrepresentation involve that could void a policy?
information that may change the insurer's interest in issuing the policy if known at the time of the application
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NY Independent General Insurance Adjuster Practice
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NY Independent General Insurance Adjuster Practice
Examination with Complete Solutions |Guarantee Pass|185
Q&A
What does a misrepresentation involve that could void a policy?
information that may change the insurer's interest in issuing the policy if known at the
time of the application
All of the following are Unfair Claims Settlement Practices EXCEPT
1. misrepresentation of policy provisions.
2. failure to acknowledge pertinent communications.
3. failure to respond to a first notice of loss within 24 hours.
4. denial of claim without a reasonable investigation.
failure to respond to a first notice of loss within 24 hours.
Which of the following characteristics of an insurance contract expresses the
principle that the policyholder is returned to the approximate financial condition
as before the loss?
Indemnity
Compensatory damages are awarded
For actual loss suffered
An insured with split liability limits of $400/500/400 is at fault in an automobile
accident and the other vehicle sustains $15000 in property damages, as well as
two passengers have bodily injury and are claiming $81500 each. What is the
MOST insurance will pay to each occupant?
$400,000
Who does a public adjuster represent?
1. an adjustment bureau
2. the government
3. the insured
4. the insurer
the insured
Which of the following is a duty of the insured after a loss?
1. assigning risk to future loss
2. investigating cause of loss
3. minimizing further loss
4. appraising value of loss
minimizing further loss
What is the insurance adjuster's first step in an investigation?
1. determine if a loss occurred
2. determine the amount covered
3. determine if the type of loss is covered in the contract
4. determine if the loss occurred during the coverage period
determine if a loss occurred
What allows insurance agents to issue payment on behalf of their company?
,draft authority
What is typically the first option available for the insured who disagrees with a
loss settlement amount?
1. appeal
2. lawsuit
3. arbitration
4. grievance claim
arbitration
Which party is required to provide proof of loss to establish entitlement?
1. the insurer
2. the insured
3. selling agent
4. law enforcement
the insured
Jane takes her vehicle to the local garage to have new brakes installed. After
completing the job, the mechanic takes the car out for a test drive. The mechanic
runs a red light and hits another vehicle. The damage to Jane's car would be
covered PRIMARILY by
the repair shop's Garagekeepers Liability Policy.
During the first 60 days an automobile policy is in force, when may an insurer
cancel the policy?
by a statement of the specific reason
Which of the following is how defense costs are paid in relation to the limit of
insurance under the personal auto policy for bodily injury and property damage
part A-liability coverage?
in excess of the limit
All of the following are TRUE regarding a nonowned auto EXCEPT
bodily Injury to an insured's nonresident family member or relative.
The insured has a commercial auto policy with a drive other car broadened
coverage liability for named individuals (DOC) endorsement. In which of the
following would the named individual be covered?
driving neighbor's auto
All of the following are TRUE regarding torts EXCEPT
1. a tort is always unintentional.
2. another term for tort is negligence.
3. torts involve private relationships.
4. a tort is a civil wrong that violates the rights of another.
a tort is always unintentional.
Which of the following is considered temporary substitute auto for physical
damage?
1. a covered auto
2. a nonowned auto
3. an undefined risk
4. a noninsured auto
a nonowned auto
All of the following are common exclusions in a liability policy EXCEPT
, damage caused by acts of civil disobedience and riots.
An annuitant is paying into an annuity. The annuity contract is in the
annuitization period.
The insured causes an accident in which three persons are injured. One person
claims $50,000, the second claims $100,000, and the third claims $250,000. The
insured has a combined single limit of $250,000 liability on his automobile policy.
What is the sum total the policy will pay?
$250,000
Which of the following causes of loss to a vehicle will trigger collision coverage
on the personal auto policy Part D- coverage for damage to your auto?
1. Contact with an animal
2. Explosion or earthquake
3. Missiles or falling objects
4. Vehicle upset
Vehicle upset
When an individual with a pre-existing condition is in an automobile accident and
the insurance covers rehabilitation only to the level of the condition prior to the
accident, this is because of which of the following principles?
indemnity
All of the following are excluded losses under Part D-damage to an auto of the
personal auto policy EXCEPT
to caps, covers, or bedliners on pickup trucks.
Which of the following is one of the objectives of the Terrorism Risk Insurance
Act of 2002?
It limits the exposure of individual insurers and the insurance industry as a whole.
An insured with split liability limits of $300/400/400 is at fault in an automobile
accident and the other vehicle sustains $15000 in property damages, as well as
two passengers have bodily injury and are claiming $9500 each. What is the
MOST insurance will pay to each occupant?
$300,000
In which of the following types of contracts is only one party legally required to
do something after the insured has completed the act of paying the premium?
Unilateral
All of the following are commonly included in the declarations page EXCEPT
the birth date of the insured.
Which cost-control mechanism allows employers and insurers to monitor the
quality and necessity of patient care?
1. mandated care
2. utilization review
3. excessive capacity
4. health savings account
utilization review
Which of the following represents the difference between paid and incurred
losses?
1. claim reserves
2. the combined ratio
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