New York Auto Exam Prep Latest Update Graded A

New York Auto Exam Prep Latest Update Graded A Which of the following is not a true statement regarding the use of non-original equipment manufacture replacement parts for vehicles? insurers specifying the use of non-original equipment manufacture replacement crash parts shall not be required to pay the cost of any modifications to the parts which may become necessary to effect the repair.. The commercial auto policy can be used to cover which of the following? A semi-trailer The penalty for failure to satisfy a coinsurance requirement of a property insurance policy is: Only a portion of a partial loss will be paid.. EXPLANATION: If the insured's policy contains a coinsurance clause and the insured carries less than 80% of the value of the property, a penalty will occur in case of partial losses. The insured can always insure for more than 80% of the value of the property. The elements of negligence include: I. A duty of care existed. II. A duty of care was breached. III. Injury or damage resulted. IV. Criminal conduct. I, II, and III only. EXPLANATION: Negligence is established as a tort - a civil wrong. It occurs when one party, either through action or inaction, fails to exhibit a reasonable care that causes another party unnecessary harm but it is not necessarily criminal conduct. The negligent party is presumed to have an obligation or duty to protect against the negligent act. All of the following professionals may be permitted to adjust claims without an adjuster license in New York, EXCEPT: An auto body repair estimator. . EXPLANATION: An auto body repair estimator MUST have an adjuster's license in New York to participate in the adjustment of claims. A licensed New York attorney, an average adjuster of maritime losses, and an agent or other representative of an insurer authorized to issue life and annuity contracts are not required to hold an adjuster license to assist in claims adjusting, as long as they are not compensated as an adjuster. Which of the following is not paid under personal auto medical payments? Pain and suffering. EXPLANATION: Pain and suffering is not covered under the personal auto medical payments coverage. In New York, the insurer is required to provide claim forms to the insured within _____ of being notified of the loss. 15 days Why do insurers file declaratory judgment actions with the courts? To determine if a claim falls within the insuring agreement of a policy. Which of the following losses would be paid under a garage policy with garage keeper's legal liability coverage, but without dealers physical damage coverage? I. Hail damage to a 4-door van held for sale. II. Damage when paint is accidentally spilled on a customer's truck by the dealer's body shop. III. Fender damage when a mechanic drives the customer's sports car into a steel post. IV. Damage to a third party's vehicle caused by a customer's vehicle driven by the mechanic test-driving the car. II and III and IV only. An insured is in an auto accident. He is arrested and charged with DUI. In respect to a $500 bond for his jail release, what does the insurer do? Partially pay the bond.. EXPLANATION: The limit for bail bonds is $250 under the supplementary payments section of an auto policy and that is what would be paid. All New York licensees that have a change of address, either business or residence, must notify the Superintendent of Insurance within: within 30 days.. If a person is qualified to receive benefits from the Motor Vehicle Accident Indemnification Corporation and are injured by a "hit and run" driver, how many days do they have to file a claim? 90 days No act will be certified by the Secretary of the Treasury, in consultation with the Secretary of Homeland Security, as an act of terrorism under the Terrorism Risk Reauthorization Act of 2015 unless: the losses that occur relate to commercial property and specified casualty risks.. In the contractual agreement under which a business auto insured rents a car, she is obligated to assume all liability to third parties in connection with the operation of the rented car. The insured's BAP liability coverage may cover: Liability the named insured would have had with or without the rental contract.. The insured owns a motor home that is not covered by the insured's personal auto policy. This vehicle can be added to the policy by using which of the following endorsements? Miscellaneous Type Vehicle endorsement. The insured is a trucking company that carries cargo. One of the insured trucks is involved in an accident and the goods it is transporting are damaged. Which of the following coverages would respond to cover this loss? An inland marine motor truck cargo policy. Under the business auto policy, the endorsement used to protect the owner of a leased vehicle is: Additional Insured - Lessor A dead tree beside Jerry's home is best described as which of the following types of hazards? Physical hazard. Under the personal auto policy the "supplementary payments" coverage is: In addition to the limit of liability. .