NY General Adjuster Test Questions with 100% Correct Answers Latest Version 2024 Verified
0 view 0 purchase
Course
Academic Avengers Verified Papers
Institution
Academic Avengers Verified Papers
NY General Adjuster Test Questions with
100% Correct Answers | Latest Version
2024 | Verified
All of the following are eligible for group long term care insurance, EXCEPT:
Answer Choices: Select the Correct Answer
A group formed as a cooperative to buy insurance at a discount.
One or more emp...
NY General Adjuster Test Questions with
100% Correct Answers | Latest Version
2024 | Verified
All of the following are eligible for group long term care insurance, EXCEPT:
Answer Choices: Select the Correct Answer
A group formed as a cooperative to buy insurance at a discount.
One or more employer or labor organizations for the benefit of the employees.
Any professional, trade or occupational association for the benefit of their bona fide members or
retirees.
A trust established or maintained for the benefit of members of a qualifying association. - ✔✔A group
formed as a cooperative to buy insurance at a discount is correct.
In case of a loss, how many days notice does the insured have after notification of a claim to submit the
claim to the underwriters of the ocean marine coverage?
60 Days
90 Days
120 Days
180 Days - ✔✔180 days is correct.
What are the unique features of the Businessowners policy form?
Answer Choices:
It provides owned auto and ocean marine coverage
The premium is adjustable and is based on number of employees
,The property coverage is open peril with no coinsurance
requirement
It has fewer exclusions - ✔✔The property coverage is open peril with no coinsurance requirement is
correct.
A named peril aviation policy would cover all of the following, EXCEPT:
Answer Choices:
Flood
Theft
Stationary land damage
Windstorm - ✔✔Flood is correct.
After completing an inspection of an insured's pressure equipment and fire suppression systems, the
inspector determines that the pressure equipment needs to be repaired and the suppression systems
have not been cleaned and inspected in the time frame required by the policy. The insurer will:
Answer Choices: Select the Correct Answer
Give notice to the insured to make the repairs within 24 hours
Require the insured to send copies of the cleaning and repairs to the underwriter
Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass
reinspection
Reduce coverage in case of loss by 25% - ✔✔Suspend coverage immediately by red tagging the items
until they are repaired, cleaned and pass reinspection is correct.
What is the maximum period of time that coverage applies under civil authority business income
coverage under the BOP? - ✔✔4 weeks is correct.
,Which of the following statements is true with respect to symbol 1 used in the BAP declarations?
Answer Choices: Select the Correct Answer
It is used only for liability coverage.
It identifies owned and hired autos only.
When it is used to identify covered auto, 30 days' notice to the insurer is required to arrange coverage on
newly acquired autos.
When it is used, the covered autos must be specifically described. - ✔✔It is used only for liability
coverage. is correct.
How are household personal property claims settled under the farm policy?
Answer Choices: Select the Correct Answer
Replacement cost
Market value
Replacement cost if insured 80% to value
Actual cash value - ✔✔Actual cash value is correct.
Claims under farm policies for household personal property will be settled on an actual cash value basis
similar to the homeowner policy. An endorsement for replacement cost settlement is available for
additional premium.
A commercial umbrella liability policy would usually cover which of the following situations?
, Answer Choices: Select the Correct Answer
A. The insured claimed in a TV ad that the company's product will allow dieters to lose five pounds per
week for four weeks without changing their eating habits. Several dissatisfied customers sued the
insured when the product did not cause weight loss.
B. The insured was sued for knowingly allowing its advertising agency to make untrue statements about
a competitor in an advertisement for the insured's product.
C. The insured owns and rents out a number of subsidized housing units. Feeling justified that he has the
right to know what goes on in the rented units, he regularly uses a passkey to let himself in and look
around the units. One day he did this while a tenant was sleeping. The tenant woke up, saw the insured
and ordered him to leave. The insured refused. Later, the tena - ✔✔The insured owns and rents out a
number of subsidized housing units. Feeling justified that he has the right to know what goes on in the
rented units, he regularly uses a passkey to let himself in and look around the units. One day he did this
while a tenant was sleeping. The tenant woke up, saw the insured and ordered him to leave. The insured
refused. Later, the tenant sued the insured for wrongful entry.
The owner of the housing unit committed an act covered under personal injury liability coverage.
All of the following uniform optional provisions permit the insurer to adjust benefits, EXCEPT:
Answer Choices: Select the Correct Answer
Change in Occupation
Time Payment of Claims
Misstatement of Age
Benefits in Relation to Earnings - ✔✔Time Payment of Claims is correct.
Time payment of claims is a mandatory provision that favors the insured. It stipulates the time period in
which a claim must be paid.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller hov. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
