New York Adjuster Exam Questions with 100% Correct Answers Bundled package

The insured has moved into a dwelling that was being build and was covered by the "Dwelling Under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? Correct Answer 30 days When a New York Homeowners policy is still in the 60-day und...

Protect the property from further loss Correct Answer Which of the following is an obligation of the insured involving a covered property insurance loss? 10 years. Correct Answer A New York adjuster commits an act of insurance fraud addressed by the Federal Insurance Fraud Act. The fraud does not...

Dram Shop Liability refers to: Correct 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 po...

All of the following statements are true regarding the Federal Employers Liability Act (FELA), EXCEPT: Correct Answer It provides workers' compensation coverage for employees working in federal government buildings. Property damage to an insured's work that arises out of the work and is part of...

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 Correct Answer The insurance premium is not shown in the conditions section of the homeowner policy. Which of th...

Insurance Correct Answer A method of handling pure risk, by spreading it over a large number of similar individuals. Law of Large Numbers Correct Answer Insurers can calculate their probable losses and establish premium rates that are accurate enough to cover claims, pay operating expenses, and m...

Which of the following is one of the objectives of the Terrorism Risk Insurance Act of 2002? Correct Answer It limits the exposure of individual insurers and the insurance industry as a whole All of the following are used by the courts to establish negligence EXCEPT Correct Answer Policy exclusio...