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New York auto exam 17-66 study exam fully solved &updated 2024.
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New York auto exam 17-66 study exam fully solved &updated 2024.
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New York auto exam 17-66 studyexam fully solved &updated 2024
All of the following are reasons that an adjuster should keep very detailed log
notes, EXCEPT: - answer To produce notes that will support a fraudulent denial of
claims. .
The adjuster's log notes are used to determine negligent parties, to assist in
detecting fraud, to become a part of the claims file, and to be used in future
proceedings. The log notes are not intended to produce a fraudulent record to
deny a claim.
When a homeowners policy has been in effect for 60 days in New York, an insurer
can cancel at anytime for any of the following reasons, EXCEPT: - answer A large
loss has occurred
George Wilson has a personal auto policy. Select the coverage that would apply
when a deer leaps onto Mr. Wilson's car and causes extensive damage. - answer
Comprehensive (other than collision).
Contact with a bird or animal is considered to be an "other than collision" loss.
What is the purpose of the New York automobile inspection requirement? - answer
To determine prior damage to the vehicle .
The purpose of the New York automobile inspection requirement is to determine if
there was prior damage to the vehicle at the time coverage was put into effect.
The law recognizes two types of waivers. They are: - answer Express/implied.
They are express and implied. An express waiver occurs when the insurer or its
representative knowingly gives up a known right under the insurance contract.
Perhaps the right to request an appraisal of the damaged property is an example.
By comparison, an implied waiver may be the result from some act of neglect on
the part of the adjuster.
, In New York, how often may the Superintendent examine insurers doing business
in the state? - answer As often as he/she deems necessary.
Duplicate recovery under New York No-Fault coverage is not permitted. If the
employee is covered under the employer's auto policy what might be done to the
employee's personal auto insurance coverage: - answer PP 05 92 will exclude
medical expenses from the basic economic loss coverage for no-fault benefits.
With commercial lines, endorsement CA 22 49 can be used. The premiums for the
basic economic loss (PIP) will be reduced accordingly.
What symbol is used for a hired auto in a commercial automobile policy? - answer
Symbol 8 is used to provide hired auto coverage in a commercial automobile
policy. It also includes leased, rented or borrowed.
A New York licensee subject to an administrative action in another jurisdiction or
governmental agency must report such action to the Superintendent within: -
answer The Superintendent must be notified within 30 days of the final
disposition of the matter.
Jim Johnson has an automobile policy with a combined single limit of $50,000. He
has an at-fault accident and incurs the following expenses: $30,000 bodily injury
judgment; $30,000 property damage judgment; $5,000 damage to traffic light;
$6,000 attorney's fees for his defense; $300 in premiums for appeal bond; and
$75 in bail bond premiums for related traffic violations. What is the maximum
amount his insurance company will pay? - answer 56,375
The policy cannot pay more than its limit of liability. Under supplemental
coverages in the policy, the policy will pay the defense costs plus the cost of the
premiums on appeal bonds and bail bonds.
What is the meaning of "diminution of value?" - answer A reduction in the value of
a vehicle even after repairs have been made
Which of the following is NOT true concerning the Terrorism Risk Insurance
Program Reauthorization Act of 2015? - answer The coverage is not mandatory
and can be rejected. Under the 2015 extension, an act of terrorism must be
certified by the Secretary of Treasury in concurrence with the Secretary of
Homeland Secretary (previously it was the in concurrence with the Secretary of
State) and the United State Attorney General.
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