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New York auto exam 17-66 study Test Questions and Answers
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New York auto exam 17-66 study Test Questions and Answers
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New York auto exam 17-66 study TestQuestions and Answers
If a person is qualified to receive benefits from the Motor Vehicle Accident
Indemnification Corporation and are injured by a "hit and run" driver, how many days do
they have to file a claim? - ✔✔90 days.
EXPLANATION:
First they must report the incident to a law enforcement agency within 24-hours. They have 90-
days from the date of the accident to file a claim.
A New York adjuster commits an act of insurance fraud addressed by the Federal
Insurance Fraud Act. The fraud does not affect the financial stability of the company. What
is the maximum time the adjuster may be confined to prison? - ✔✔10 years is correct.
EXPLANATION:
This type of offense carries up to a 10 year sentence. The sentence is increased to 15 years if it
affects the financial stability of the insurer.
, What is the definition of a rental vehicle under the personal auto policy? - ✔✔A non
owned vehicle.
EXPLANATION:
A rental vehicle is considered to be a non owned vehicle for coverage purposes under
the personal auto policy.
Replacement cost coverage is best defined as: - ✔✔Replacement without deduction
for depreciation. is correct.
EXPLANATION:
With replacement cost coverage, the insured is permitted to replace old with new at today's
cost without a deduction for depreciation.
No insurer may issue checks or drafts or partial settlement of a loss or claim that is still being
negotiated that: - ✔✔Releases the insurer from additional liability..
EXPLANATION:
An insurer cannot issue a check for partial payment of a claim that contains language that
releases the insurer from total liability unless the limit of the policy or the bond has been paid or
a compromise has been otherwise made.
Insurers conducting business in New York must be examined at least once every: - ✔✔5 years.
is correct.
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