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NEW YORK AUTO EXAM 17-66 QUESTIONS AND ANSWERS UPDATED
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NEW YORK AUTO EXAM 17-66 QUESTIONS AND ANSWERS UPDATED
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NEW YORK AUTO EXAM 17-66 QUESTIONS ANDANSWERS UPDATED 2024 - 2025
In,New,York,,insurers,must,maintain,records,pertaining,to,claims,,rating,,underwriting,,marketing,and,ot
her,pertinent,information,for,a,period,of:,ANS,-
The,law,requires,that,these,records,be,maintained,for,inspection,and/or,review,for,at,least,six,years.
Which,of,the,following,relieves,the,financial,burden,on,the,claimant,by,making,certain,payments,to,the,
claimant,even,before,the,claim,is,negotiated?,ANS,-Advance,Payment.
EXPLANATION:
Most,adjusters,are,given,the,authority,to,make,advance,payments,when,liability,is,clear.,This,relieves,th
e,financial,burden,on,the,claimant,when,funds,are,needed,immediately.,The,remainder,of,the,claim,is,n
egotiated,and,settled,at,a,later,date
In,the,insurance,industry,,which,of,the,following,terms,refers,to,continuous,or,repeated,exposure,to,con
ditions,that,may,result,in,bodily,injury,or,property,damage,neither,expected,nor,intended?,ANS,-
An,occurrence.
EXPLANATION:
The,definition,of,"occurrence",includes,accident,which,is,bodily,injury,and/or,property,damage,that,is,su
dden,and,unforeseen.
If,,during,a,legal,proceeding,,the,court,determines,that,the,facts,brought,forth,,together,with,the,applica
ble,law,,fail,to,make,a,prima,facie,case,,the,court,may,,without,consideration,by,the,jury,,administer:,AN
S,-A,directed,verdict.,.
EXPLANATION:
Lacking,establishment,of,a,prima,facie,case,,the,court,may,enter,a,directed,verdict,for,either,the,plaintiff
,or,the,defendant.
Which,of,the,following,is,NOT,a,correct,statement,in,determining,the,cost,of,a,"comparable,automobile
",when,a,physical,damage,loss,has,a,occurred?,ANS,-
, The,cost,of,a,comparable,automobile,as,determined,by,a,computerized,automobile,valuation,service,th
at,produces,statistically,valid,fair,market,values,within,the,United,States,market.,.
EXPLANATION:
The,computerized,method,must,use,values,that,are,fair,market,values,in,the,local,market,areas,and,doe
s,not,include,markets,in,other,parts,of,the,United,States.
In,New,York,,the,limit,under,the,Homeowner,policy,for,credit,card,,electronic,fund,transfer,card,or,acce
ss,device,,forgery,and,counterfeit,money,additional,coverage,is:,ANS,-$1,000.
EXPLANATION:
In,NY,the,limit,of,insurance,under,the,credit,card,,electronic,fund,transfer,card,or,access,device,,forgery,
and,counterfeit,money,additional,coverage,was,increased,from,$500,to,$1,000.
Under,the,Motor,Carrier,Act,of,1980,,a,vehicle,hauling,excess,oil,,explosives,or,nitrous,gases,is,required,
to,carry,a,minimum,liability,limit,of:,ANS,-$5,000,000.
EXPLANATION:
Although,oil,haulers,are,only,required,to,carry,$1,000,000,,the,key,word,here,is,"excess,oil",and,when,fo
llowed,up,with,"explosives",makes,this,freight,hazardous,requiring,the,$5,000,000,limit.
In,New,York,,the,insurer,is,required,to,provide,claim,forms,to,the,insured,within,_____,of,being,notified,
of,the,loss.,ANS,-5,days.
EXPLANATION:
Claim,forms,must,be,provided,within,15,days,after,notification,of,the,loss.
Which,of,the,following,coverages,would,apply,to,a,rental,car,used,by,an,insured,executive,while,on,vaca
tion?,ANS,-Coverage,for,nonowned,autos.,.
EXPLANATION:
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