Exam (elaborations)
NY Independent General Adjuster Exam - Series 17-70 – Q’s and A’s
NY Independent General Adjuster Exam - Series 17-70 – Q’s and A’s
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NY Independent General Adjuster Exam -Series 17-70 – Q’s and A’s
Dram Shop Liability refers to: - -Liquor Law Liability.
-The insured has suffered a covered loss under his DP-3 dwelling form. He
fails to protect the property from further loss. The additional loss that occurs
as a result of his inactions may be denied because of what clause in the
policy? - -Neglect.
-To be eligible for the New York assigned risk auto plan a person must: - -
Hold a valid driver's license.
-Any insurance adjuster whose license has been revoked for cause will not
be entitled to apply for any other insurance license in New York until at least:
- -One Year.
-A typical benefit design for a long term care policy does not include a: - -
Conditionally or optionally renewability feature.
-In New York the workers compensation program is administered by the
Workers Compensation Board which establishes guidelines for the program.
Notice of injury or death to a worker is required to be submitted to the
employer within what period of time? - -30 Days.
-A common carrier is not held liable for the loss of a shipper's goods when
the loss results from: - -An Act of God.
-If one is found guilty of federal insurance fraud, who can permit the guilty
individual to return to the insurance business? - -Only an insurance
regulatory official.
-When is a passenger first covered under an aircraft policy? - -When
Entering the Aircraft.
-If an insured takes precautionary measures to protect property from flood
damage such as creating a retaining wall of sand bags, how much coverage
if any, will be provided by a flood policy? - -$1,000 if the flood is imminent
and the property is in danger of flooding.
-Which Commercial Forms would cover sinkhole collapse? - -Basic, Broad,
and Special.
, -______ is a movement allowed by certain joints of the skeleton that
decreases the angle between two adjoining bones. - -Flexion
-The listing of the perils covered is found in which part of a homeowner
policy? - -Insuring Agreement.
-If a dog owned by a customer is injured in the parking lot of a store, is that
considered bodily injury under liability coverage? - -No. The dog is property
and would be consider property damage.
-The Superintendent of Insurance may approve the employment,
appointment or participation of any person whose license has been revoked.
Karen Jones had her license revoked and filed an application for relicensing
and has waited over 120 days without a response from the Insurance
Department. What should or can she do? - -Assume the relicensing is
approved.
-Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking
garage at the airport and leaves the keys in the ignition. When he returns he
finds that his car has been stolen. Later the car was discovered with severe
collision damage. The airport carries Garagekeeper's Legal Liability coverage
and Mr. Vickers carries Liability and Comprehensive coverage on his auto.
What coverage would apply? - -Mr. Vickers comprehensive coverage.
-An automobile is polluting the environment. What engine component could
be the primary cause? - -Catalytic Converter Malfunction.
-Under the dwelling policy, DP2 or D3, what is the maximum amount of
Coverage A that would be paid for additional living expenses? - -20%
-Workers compensation policies also include employer's liability coverage. If
any employer fails to maintain the equipment and an employee is injured,
would it be covered under this coverage? - -Yes.
-Fidelity bonds are typically written to be effective for a: - -Continuous term
without an expiration date.
-One purpose of a deductible is to: - -Eliminate small claims.
-If the insured has failed to pay the premium for a worker compensation
policy issued in New York, how many days notice of cancellation must be
sent to the insured? - -A 10 day notice.
-A ship owner wanting coverage in case crew members bring liability suits
for injuries sustained while working would purchase: - -Protection and
Indemnity
, -Under workers compensation in New York, which of the following does not
raise the premium based on it being a proportion of the charged premium? -
-Premium Discount.
-What is an example of a moral hazard? - -Embezzlement
-If an insured is responsible for damaging a client's million dollar shipment
of products, would this coverage be covered by the commercial umbrella
liability coverage under BI and PD coverage? - -Yes.
-A homeowner with personal property insured for $60,000 had a fire which
destroyed everything. The total value of the personal property at the time of
the loss was only $50,000. What principle would be violated if her insurer
paid her more than $50,000? - -Principle of Indemnity.
-What is the appropriate manner in which to sign a "release of all claims?" -
-Must use full legal name.
-Jane becomes injured in an auto accident caused when she took her eyes
off the road to send a text message on her cell phone. This is an example of
a: - -Morale Hazard.
-The deductible on the Equipment Breakdown form can be stated in what 3
ways? - -Fixed Dollar Amount, Time Deductible, and Percentage of Loss.
-A car has had the front sheet metal replaced. The fender-to-door gap is
wider on the passenger side than on the driver side and the hood appears
out of alignment. Technician A says that only the hood latch is misaligned.
Technician B says the front structure of the vehicle is not dimensionally
correct. Who is right? - -Technician B only.
-A tenant leases space in a building. The tenant's space is damaged by fire.
When will the commercial Property Policy pay for the damage? - -When the
owner of the building submits proof of loss for the damage.
-Dwelling forms provide what amount of coverage for grave markers and
mausoleums? - -Nothing. Homeowners form provide a limit of $5,000.
-Does a flat deductible apply to basic scheduled dental plans? - -No.
-With crop insurance policies, the coverage period is usually: - -Limited to
the growing period for the particular crop being insured.
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