NY General Adjuster Exam Terms - CJB With Complete Solutions
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Course
NY General Adjuster
Institution
NY General Adjuster
Aircraft hull coverage covers - ANSWER-Vandalism while "not in motion"
Punative - ANSWER-DamagesBodily injury claims - "exemplary" damages:
Bail Bond - ANSWER-A court or litigation bond or finacial guarantee bond:
Individual Named Insured - ANSWER-Covers business owner with business auto, ...
Dwelling form on flood insurance will cover: - ANSWER-Residential Structures up to 4
families or Manufactured Housing
NOT considered a consequential loss coverage: - ANSWER-Replacement Cost
Coverage
Insurance carrier can charge additional premium for exposure when an independent: -
ANSWER-contractor is injured while working & files a claim stating they were actually
an employee
Liable for the ensuing claim if no workers comp coverage & an employee injured: -
ANSWER-The President, Secretary, & Treasurer of the corporation
CGL policy covers this exposure: - ANSWER-Contractural Liability in "insured contracts"
Pollution caused by smoke released from industrial operation under Comm. Property
policy: - ANSWER-Covered if caused by a covered cause of loss peril
Purpose of a reporting form under dealer's physical damage coverage in garage policy:
- ANSWER-To deal with changing values of autos held for sale
Workers compensation insurance is a contract between: - ANSWER-Insurance
company and the employer
, Wheat - ANSWER-NOT a "coarse grain" crop:
For coverage to apply under an occurance commercial umbrella liability policy: -
ANSWER-Occurance causing injury or dmg must take place during policy period
Review hospital bills to help control costs - ANSWER-Utilization review is used to:
6 years - ANSWER-NY insurers must maintain records pertaining to claims, rating,
underwriting, etc. for:
Old, no longer manufactured equipment insured under Equipment Breakdown policy by:
- ANSWER-Attaching the Actual Cash Value endorsement
Virtually all inland maring named perils forms include: - ANSWER-Fire & Lightening
INCLUDED under trailer exchange coverage: - ANSWER-Damage to trailers while not
connected to a power unit
In ocean marine insurance policies, the term "average" means: - ANSWER-Loss or
Damage
Business income covered in case of insured direct loss on BOP for: - ANSWER-12
months
If insurer pays limit amount, which is more than actual loss amount, they violated: -
ANSWER-Principle of Indemnity
When someone dies without a will, they are said to have died: - ANSWER-Intestate
Declarations section of an insurance policy provides: - ANSWER-Name & Address of
the Insured and the duration of the policy
EXCLUDED explosion under BOP: - ANSWER-A steam boiler explodes
Professional liability of a lawyer would be which type of insurance: - ANSWER-Errors
and Omissions
What is EXCLUDED under the property coverage of the HO-3 form: - ANSWER-
Animals
NOT a type of "fiduciary" bond: - ANSWER-Appeal Bond
Executor of an estate may be required to purchase a: - ANSWER-Fiduciary Bond
Covers property belonging to a contractor or others that is to become part of a structure:
- ANSWER-Installation Floater
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