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Auto Adjuster Exam 17-66 Latest Update Actual Exam from Credible Sources with Questions and Verified Correct Answers Golden Ticket to Guaranteed A+ Verified by Professor$20.49
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Auto Adjuster Exam 17-66 Latest Update Actual Exam from Credible Sources with Questions and Verified Correct Answers Golden Ticket to Guaranteed A+ Verified by Professor
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Auto Adjuster Exam 17-66 Latest Update Actual Exam from Credible Sources with Questions and Verified Correct Answers Golden Ticket to Guaranteed A+ Verified by Professor
Auto Adjuster Exam 17-66 Latest Update 2024-
2025 Actual Exam from Credible Sources with
Questions and Verified Correct Answers Golden
Ticket to Guaranteed A+ Verified by Professor
A non-waiver agreement issued by an insurance company is: - CORRECT ANSWER: A
coverage issue..
Non-waiver agreements and reservation of rights letters both serve the following
general purposes: 1. To advise the insured that any action taken by the insurance
company in investigating the cause of loss or in ascertaining the amount of loss is not
intended to waive or invalidate any policy condition, and 2. To clarify that the intent of
the agreement is to permit an investigation of the claim and that neither the insured nor
the insurer will thereby waive any respective rights or obligations.
Adverse selection occurs when: - CORRECT ANSWER: Applicants are accepted by the
insurer with little or no attention given to underwriting. .
Insurers must carefully underwrite all risks to avoid being the victim of adverse selection
which is the tendency of insureds with a greater-than-average chance of loss to
purchase insurance. With adverse selection, the insurer is confronted with the
probability of loss due to risks not factored in at the time of sale.
All of the following are covered by the Terrorism Risk Insurance Program
Reauthorization Act of 2015, EXCEPT: - CORRECT ANSWER: Commercial Automobile.
Commercial Automobile was covered under the TRIA of 2002, however, with the
reauthorization in 2015, it is now excluded. Commercial property, commercial casualty,
and workers compensation coverage have been covered since 2002 and are still
covered under the 2015 reauthorization.
An insurance professional that is accused of dishonesty or breach of trust involving
interstate commerce under the Federal Fraud and False Statement Regulation of the
, United States Code (USC 1033) will be prosecuted by: - CORRECT ANSWER: The
U.S. Attorney general.
Before revoking or suspending a license, the Superintendent must first send _____
notice and give the accused an opportunity for a hearing. - CORRECT ANSWER: 10
days
If any person engages in activities in violation of the Federal Insurance Fraud and False
Statements regulation, he or she may be subject to which of the following? - CORRECT
ANSWER: A civil penalty of not more than $50,000
In New York, an insurer settling total auto losses must report the losses to: - CORRECT
ANSWER: The Department of Financial Services.
The Department of Financial Services of New York requires that insurers settling a total
auto loss, report the loss information upon completion of the claim.
In order to proceed with subrogation, the insurance company generally: - CORRECT
ANSWER: Takes a subrogation assignment from the insured.
In regards to a personal auto policy, which of the following statements is incorrect? -
CORRECT ANSWER: The maximum amount payable under the Supplementary
Payments is $250.
Supplementary payments provide coverage for expenses incurred by the insurer in the
defense of the insured without a limit. No limit is specified for the payment of interest
that has accrued as a result of a judgment against the insured. There is a specific limit
of $250 for bail bonds and a limit of $200 per day for lost wages as a result of the
insured attending hearings etc. in their defense. These payments are in addition to the
policy limits of liability.
In which of the following situations should an adjuster consider obtaining a non-waiver
agreement? - CORRECT ANSWER: In dealing with a potential coverage dispute
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