NY Independent General Adjuster Practice Exam

Which of the following is covered by a dread disease policy? - 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? - chief executive officer For the commercial general liability coverages of bodily injury, property damage and medical payments, which of the following limits of insurance apply if the aggregate limit is NOT met? - per occurrence An injured employee covered under workers' compensation is entitled to reasonably justifiable expenses for retraining. This benefit falls under which of the following? - vocational rehabilitation Which of the following is the party who agrees to be responsible for loss in the case of a fidelity bond? - the surety What increases the potential loss of an unforeseen event that causes injury to an insured or damage to property? - Hazard Which of the following sides represent the front surface of the patient? - anterior Which party is required to provide proof of loss to establish entitlement? - the insured What does homeowners Coverage B - Other Structures cover? - structures located on the insured's property separated from the dwelling by clear space Which of the following is a duty of the insured after a loss? - minimizing further loss When an agent tries to convince a policyholder to replace an existing policy to buy another one, what are they practicing? - misrepresentation How long is the broad theft coverage endorsement invalid if the property is vacant? - More than 60 consecutive days The insured is mowing his lawn when a stranger is noticed in the backyard. The stranger claims to be a substitute delivery person. Several days later a gold watch can not be found. Which of the following describes the loss? - mysterious disappearance Before taking legal action, what third-party can help end disputes over the value of a loss? - arbitrator The Liability section of the Farmowners Policy would exclude coverage for which of the following operations? - Repairing tractors owned by neighboring farmers. All of the following are tax qualified retirement plans EXCEPT - Section 529 plan. Which policy condition encourages policyholder to insure to at least 80% of replacement value to avoid a penalty with partial losses? - coinsurance Which one of the following represents an advantage of obtaining a policy loan vesus a withdrawal? - the loan is not taxed while a withdrawal is taxed for amounts above the contract cost basis