NY SERIES EXAMS PACK | LATEST UPDATE & ANSWERS (VERIFIED)| ALREADY GRADED

Which of the following would NOT be found in the conditions section of a homeowners insurance policy? Subrogation rights Duties of the insured Insurance premium Mortgagee clause ANSWER: The insurance premium is not shown in the conditions section of the homeowner policy. Which of the f...

Process 2103 (d-i) ANSWER: 1. The Superintendent may issue a license to any person, firm or corporation who has complied with the requirements of the Insurance Code, authorizing the licensee to act as agent of any authorized insurer. Every individual applicant for a license under this sectio...

How many eligible employees must be included in a contributory health insurance plan? ANSWER: 50% A man works for Company A and his wife works for Company B. The spouses are covered by health plans through their respective companies that also cover the other spouse. If the husband files a cla...

Dram Shop Liability refers to: ANSWER: 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 polic...

Accelerated Benefits ANSWER: Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Adjustable Life ANSWER: Life insurance which permits changes in the face amount, premium amount, period of protection, and the durati...

Accident ANSWER: An unplanned, unforeseen event which occurs suddenly and at an unspecified place. Adhesion ANSWER: "A contract offered on a ""take-it-or-leave-it"" basis by an insurer, in which the insured's only option is to accept or reject the contract. Any ambiguities in the co...