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NEW YORK AUTO ADJUSTER PREP QUESTIONS WITH COMPLETE ANSWERS.
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NEW YORK AUTO ADJUSTER PREP QUESTIONS WITH COMPLETE ANSWERS.
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NEW YORK AUTO ADJUSTER PREPQUESTIONS WITH COMPLETE
ANSWERS
Medical ffcoverage ffunder ffa ffpersonal ffauto ffpolicy ffwill ffcover ffthe ffinsured ffif ffhe/she
ffis ffinjured ffwhile: ff- ffAnswer ffPassenger ffon ffa ffbus.
EXPLANATION:
Personal ffauto ffmedical ffcoverage ffis ffavailable ffto ffthe ffpolicyholder ffor ffa fffamily
ffmember ff(resident ffrelative) ffinjured ffwhile ffoccupying, ffor ffas ffa ffpedestrian, ffstruck ffby
ffa ffmotor ffvehicle ffor fftrailer ffdesigned fffor ffuse ffon ffpublic ffroads. ffIt ffalso ffcovers ffany
ffother ffpersons ffwhile ffthey ffare ffoccupying ffyour ffmotor ffvehicle. ffIt ffdoes ffnot ffcover
ffinjuries ffsustained ffwhile ffriding ffin ffvehicles ffnot ffintended fffor ffuse ffon ffpublic ffroads
ffsuch ffas fftrains, ffsubways ffand ffairplanes.
Which ffof ffthe fffollowing ffbest ffdescribes ff"no ffrelease ffor ffwalk-away" ffrelease? ff-
ffAnswer ffThe ffbills ffare ffpaid ffand ffno ffattempt ffto ffobtain ffa ffseparate ffrelease ffis
ffmade. ff.
EXPLANATION:
The ffbills ffpresented ffare ffpaid ffwith ffno ffattempt ffto ffobtain ffa ffseparate ffrelease,
ffalthough ffthe ffwording ffon ffthe ffdraft ffor ffcheck ffmay ffalso ffserve ffas ffa ffform ffof
ffrelease. ffAfter ffa ffcertain ffamount ffof fftime ffhas ffpassed ffwith ffno fffurther ffcontact ffwith
ffthe ffclaimant, ffthe fffile ffis ffconsidered ffclosed.
The ffminimum ffcoverage ffrequired ffin ffNew ffYork fffor ffuninsured ffmotorists ffbodily
ffinjury ffis: ff- ffAnswer ff$25,000 ffper ffperson, ff$50,000 ffper ffaccident. ffis ffcorrect.
EXPLANATION:
New ffYork ffstate fflaw ffestablished ffthe ffminimum ffcoverage fflimits ffof ff$25,000 ffper
ffperson, ff$50,000 ffper ffaccident ffand ffup ffto ff$50,000 ffper ffperson, ffand ff$100,000 ffper
ffaccident fffor ffdeath.
Richard ffhas ffbeen ffadvised ffby ffthe ffNew ffYork ffSuperintendent ffof ffInsurance ffto
ffcease ffand ffdesist ffin ffthe ffperformance ffof ffcertain ffinfractions ffof ffthe ffInsurance
ffCode. ffHe ffhas ffhad ffa ffhearing ffand ffbeen ffissued ffa ffcease ffand ffdesist fforder. ffHe
ffcontinues ffto ffviolate ffthe ffcease ffand ffdesist fforder. ffHe ffcan ffbe fffined ffa ffpenalty ffof
ffup ffto: ff- ffAnswer ff5,000 ffper ffviolation.
EXPLANATION:
Richard ffis ffsubject ffto ffa ffpenalty ffof ffup ffto ff$5,000 fffor ffeach ffviolation.
, If ffan ffinsured ffhas ffmore ffthan ffone ffauto ffpolicy ffwith ffthe ffsame ffinsurer ffthat ffprovides
ffuninsured ffmotorists ffcoverage, ffwhich ffof ffthe fffollowing ffstatements ffabout ffthe
ffrecovery ffof ffbenefits ffis ffcorrect? ff- ffAnswer ffTotal ffrecovery ffis ffrestricted ffto ffthe
ffhighest fflimits ffof ffthose ffcoverages. ff.
EXPLANATION:
Only ffthe ffhighest fflimit ffwould ffapply. ffIn ffsome ffstates, ffhowever, ffstacking ffof fflimits ffis
ffpermitted ffwherein ffif ffthe ffinsured ffinsures ffmore ffthan ffone ffvehicle, ffthe fflimits ffcan
ffbe ffcombined.
After ffreceiving ffan ffinquiry fffrom ffthe ffNew ffYork ffDepartment ffof ffInsurance ffregarding
ffa ffclaim, ffan ffinsurer ffmust ffrespond ffwithin: ff- ffAnswer ff10 ffbusiness ffdays
A ffNew ffYork fflicensee ffsubject ffto ffan ffadministrative ffaction ffin ffanother ffjurisdiction ffor
ffgovernmental ffagency ffmust ffreport ffsuch ffaction ffto ffthe ffSuperintendent ffwithin: ff-
ffAnswer ff30 ffdays..
Oliver ffDogwood ffwas ffin ffan ffauto ffaccident ffwhich ffdestroyed ffhis ffcar. ffWhile
ffinvestigating ffthe ffaccident, ffAdjuster ffDoright fffound ffthat ffMr. ffDogwood ffpaid ff$1,000
fffor ffthe ffvehicle. ffAfter ffchecking ffwith ffothers ffhe fffound ffthe ffsame ffvehicle ffwith ffan
ffasking ffprice ffof ff$1,700, ffa ffretail ffprice ffof ff$2,150 ffand ffa ffdealer ffprice ffof ff$1,750.
ffWhat ffamount ffwill ffMr. ffDogwood ffreceive? ff- ffAnswer ffMr. ffDogwood ffwill ffreceive
ff$2,150 ffplus ffany ffsales fftax. ffThe ffinsured ffis ffrequired ffto ffpay ffretail ffprice ffplus ffsales
fftax.
In ffinsurance ffterms, ffthe ffparty ffwho ffhas ffbeen ffwronged ffis ffknown ffas ffthe ff_____
ffparty, ffand ffthe ffperson ffcausing ffthe ffinjury ffis ffthe ff_____ ffparty. ff- ffAnswer ffthird ff/
fffirst.
EXPLANATION:
The ffthird ffparty ffwould ffbe ffthe ffclaimant ffand ffthe ffperson ffcommitting ffthe ffwrongful
ffact ffwould ffbe ffthe fffirst ffparty. ffThe ffsecond ffparty ffis ffthe ffinsurance ffcompany.
Bodily ffinjury ffclaims ffare ffusually ffclassified ffas fftypes ffof ffdamages. ffWhich ffof ffthe
fffollowing ffis ffconsidered ff"exemplary" ffdamages? ff- ffAnswer ffPunitive ffDamages.
EXPLANATION:
Punitive ffdamages ff(also ffknown ffas ffexemplary ffdamages) ffare ffdamages ffintended ffto
ffreform ffor ffdeter ffthe ffdefendant ffand ffothers fffrom ffengaging ffin ffsimilar ffconduct
ffwhich ffformed ffthe ffbasis ffof ffthe fflawsuit. ffAn ffexample ffwould ffbe ffa ffdriver ffgoing
ff120 ffmiles ffper ffhour ffin ffa ffschool ffzone ffand ffhits ffa ffschool ffbus. ffPunitive ffdamages
ffwould ffpunish ffthis ffdriver ffand ffothers fffrom ffrepeating ffthe ffsame ffoffense.
What ffis ffthe ffautomobile ffproperty ffdamage fflimit ffthat ffis ffrequired ffin ffNew ffYork ffto
ffsatisfy ffthe fffinancial ffresponsibility fflaw? ff- ffAnswer ff$10,000.
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