Independent adjuster - Study guides, Class notes & Summaries

Which of the following is covered by a dread disease policy?Answer - illnesses that do not occur frequently but incur significant costs when they do occur Which of the following professionals would purchase Directors and Officers (D &O) insurance to manage the liability risk associated with their activities?Answer - chief executive officer For the commercial general liability coverages of bodily injury, property damage and medical payments, which of the following limits of insurance appl...

Which of the following is covered by a dread disease policy?Answer - illnesses that do not occur frequently but incur significant costs when they do occur Which of the following professionals would purchase Directors and Officers (D &O) insurance to manage the liability risk associated with their activities?Answer - chief executive officer For the commercial general liability coverages of bodily injury, property damage and medical payments, which of the following limits of insurance appl...

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. Brainpower Read More 0:04 / 0:15 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...

"You" and "your" means what in terms of the definitions for State farm coverage. - ACCURATE ANSWERS The "named insured" "insured" means what in terms of the definitions for State farm coverage. - ACCURATE ANSWERS You and, if residents of your household: a. your relatives; and b. any other person under the age of 21 who is in the care of a person described above. "insured location" means what in terms of the definitions for State farm coverage. - ACCURATE ANSWERS a. the residen...

NC ADJUSTER LICENSE PRACTICE EXAM 2024/2025 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER Replacement cost min...

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 RATED A+ Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered under the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? $28,980. $42,000. $6,300. $35,700. For a loss that would otherwise be covered for th...

NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 (2024) QUESTIONS WITH ALL CORRECT ANSWERS..

Insurance - Transfer of risk from one person or organization to an insurance company Indemnity - The principle to restore the insured to the pre-loss economic or financial condition. Law of Large numbers - Mathematical principle used by insurers to predict losses to charge the appropriate premiums Insurable Interest - Proof that someone stands to lose financially if a loss occurs; must exist at the time of the loss in property and casualty insurance Binder - Temporary insurance contr...

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 answerThe insurance premium is not shown in the conditions section of the homeowner policy. Which of the following is true regarding dealers physical damage coverage under a garage policy? It is a blanket limit for covered autos. It extends coverage to customers' autos. It is an annual maximum...

New York Independent Adjuster General Test Exam Questions with Verified Solutions