New York License test questions
30 days - CORRECT ANSWER-
DP-3 - CORRECT ANSWER-The most comprehensive coverage proficed by the
Dwelling Property program is found in the
Adjusted Gross Income - CORRECT ANSWER-Which type of Crop Insurance Policy
insures fthe entire acreage rather than an individual crop
The loss of the truck plus the extra tires and hubcaps would be considered in this claim
These total $19,050 less than the deductible of $250 equals $18,800 - CORRECT
ANSWER-Mr. York had his pickup stolen while it was parked in a "no parking" zone
outside his office. The value of the truck is $18,500. In addition, tools valued at $200,
extra tires and hubcaps for the truck valued at $550 and a tarp worth $50 were in the
truck. Mr York has a collision deductible of $500 and a comprehensive deductible of
$250. The insurance company will pay what amount
$500 - CORRECT ANSWER-The unfair claim settlement laws and regulations in New
York provide that a violation in each instance will be treated as a separate violation. A
fine in the amount of____will be imposed against the insurance company for each
violation
The automatic increase endorsement - CORRECT ANSWER-What endorsement may
be used on the dwelling policy to keep values current with the replacement cost of the
buildings
The policy will pay the loss less the deductible. Cov B applies to any part of the world -
CORRECT ANSWER-An insured's wife is wearing a diamond ring while on vacation in
Europe. The ring valued at $1500 is stolen. What coverage would apply under the
Homeowner Policy
,$100 billion - CORRECT ANSWER-Under the Tria Act (known as TRIEA-terrorism risk
insurance extension act of 2015) the maximum limit for the Act for total claims under the
ACT by either private insurers or the government is still limited to
Settle all partial losses to dwellings at replacement cost if insured 80% to value both I
and II - CORRECT ANSWER-Which of the following statements are correct 1-
unendorsed DP-2 and DP3 settle all losses to personal property at ACV. II-unendorsed
DP-2 and DP-3
No benefit to Bailee - CORRECT ANSWER-An insured's TV set is damaged while at a
repair shop. The interest of the repair shop is not covered because of which of the
following
Fire resultant water damage - CORRECT ANSWER-Which of the following would be
covered under the DP-1 dwelling form
5 yrs - CORRECT ANSWER-Insurers conducting business in New York must be
examined at least once every
At least 45 days advance notice of non-renewal must be sent to the insured -
CORRECT ANSWER-When an insurer intends to non-renew a homeowners policy in
New York
Poultry - CORRECT ANSWER-Under the farm policy, which of the following is not
considered livestock
Independent Adjuster - CORRECT ANSWER-A person, firm or corporation that, for
compensation, acts on behalf of an insurer in investigating and adjusting claims arising
under policies issued by an insurer and who performs any duties required by the insurer
that are incidental to those claims is known as a/an
Percentage of the maximum possible loss - CORRECT ANSWER-Crop insurance policy
limits are usually written as a
Send the claimant a reservation of rights letter - CORRECT ANSWER-There are certain
steps a claim representative takes in the evaluation of a liability claim. Which of the
following is NOT normally a first option
$2000 - CORRECT ANSWER-Under Coverage F- Unscheduled Farm Personal
Property, the most that will be paid for a "head" of livestock(an adult animal, one year of
age or older)
Assume the relicensing is approved - CORRECT ANSWER-The Superintendent of
Insurance may approved the employment, appointment or participation of any person
whose license has been revoked. Karen Jones had her license revoked and filed an
, application for relicensing and has waited over 120 days without a response from the
Insurance Department.
The coverage could be denied - CORRECT ANSWER-If an insured fails to comply with
the immediate notice of claim requirement, which of the following could happen
Actual Cash Value - CORRECT ANSWER-The general property flood coverage form fro
commercial property will settle claims on the basis of
Renters - CORRECT ANSWER-The H0-4 provides not coverage on the dwelling and
broad peril coverage on
DP-3 - CORRECT ANSWER-The most comprehensive coverage provided by the
Dwelling Property program is found in the
180 Days - CORRECT ANSWER-In case of a loss, how many days notice does the
insured have after notification of a claim to submit the claim to the underwriters of the
ocean marine coverage
The policy pays replacement only if the repairs are made within 24 month of the incident
- CORRECT ANSWER-The Equipment Breakdown Policy(formerly called boiler and
machinery) provides for replacement cost coverage in case of a covered claim. Under
what conditions would the insurer only pay ACV in case of a loss
After a waiting period of 72 hours the policy would pay for loss of income of up to 3
weeks - CORRECT ANSWER-An insured is covered under the Businessowner's Policy
a fire has occurred to a business a block away and the civil authorities have blocked off
the stfree. The insured's customers cannot gain entrance to his business location. What
coverages would apply to the insured's loss of income
$250,000 - CORRECT ANSWER-Mr. Owens owns 50% of a building that is worth
$600,000 and is insured for $500,000. What is the maximum that Mr. Owens can collect
in case of a total loss to the building
Leasehold Interest Coverage - CORRECT ANSWER-Which of the following coverages
is NOT provided by the Business Income Coverage Form
ACV Basis - CORRECT ANSWER-How is personal property of a dwelling covered
under a farm policy
Attach the Named Perils form - CORRECT ANSWER-How do you change the property
causes of loss from risks of direct physical loss to named perils coverage under the
BOP
The equipment policy will be primary and the BOP will be excess if the separate policy
does provide adequate limits of coverage - CORRECT ANSWER-The insured is
30 days - CORRECT ANSWER-
DP-3 - CORRECT ANSWER-The most comprehensive coverage proficed by the
Dwelling Property program is found in the
Adjusted Gross Income - CORRECT ANSWER-Which type of Crop Insurance Policy
insures fthe entire acreage rather than an individual crop
The loss of the truck plus the extra tires and hubcaps would be considered in this claim
These total $19,050 less than the deductible of $250 equals $18,800 - CORRECT
ANSWER-Mr. York had his pickup stolen while it was parked in a "no parking" zone
outside his office. The value of the truck is $18,500. In addition, tools valued at $200,
extra tires and hubcaps for the truck valued at $550 and a tarp worth $50 were in the
truck. Mr York has a collision deductible of $500 and a comprehensive deductible of
$250. The insurance company will pay what amount
$500 - CORRECT ANSWER-The unfair claim settlement laws and regulations in New
York provide that a violation in each instance will be treated as a separate violation. A
fine in the amount of____will be imposed against the insurance company for each
violation
The automatic increase endorsement - CORRECT ANSWER-What endorsement may
be used on the dwelling policy to keep values current with the replacement cost of the
buildings
The policy will pay the loss less the deductible. Cov B applies to any part of the world -
CORRECT ANSWER-An insured's wife is wearing a diamond ring while on vacation in
Europe. The ring valued at $1500 is stolen. What coverage would apply under the
Homeowner Policy
,$100 billion - CORRECT ANSWER-Under the Tria Act (known as TRIEA-terrorism risk
insurance extension act of 2015) the maximum limit for the Act for total claims under the
ACT by either private insurers or the government is still limited to
Settle all partial losses to dwellings at replacement cost if insured 80% to value both I
and II - CORRECT ANSWER-Which of the following statements are correct 1-
unendorsed DP-2 and DP3 settle all losses to personal property at ACV. II-unendorsed
DP-2 and DP-3
No benefit to Bailee - CORRECT ANSWER-An insured's TV set is damaged while at a
repair shop. The interest of the repair shop is not covered because of which of the
following
Fire resultant water damage - CORRECT ANSWER-Which of the following would be
covered under the DP-1 dwelling form
5 yrs - CORRECT ANSWER-Insurers conducting business in New York must be
examined at least once every
At least 45 days advance notice of non-renewal must be sent to the insured -
CORRECT ANSWER-When an insurer intends to non-renew a homeowners policy in
New York
Poultry - CORRECT ANSWER-Under the farm policy, which of the following is not
considered livestock
Independent Adjuster - CORRECT ANSWER-A person, firm or corporation that, for
compensation, acts on behalf of an insurer in investigating and adjusting claims arising
under policies issued by an insurer and who performs any duties required by the insurer
that are incidental to those claims is known as a/an
Percentage of the maximum possible loss - CORRECT ANSWER-Crop insurance policy
limits are usually written as a
Send the claimant a reservation of rights letter - CORRECT ANSWER-There are certain
steps a claim representative takes in the evaluation of a liability claim. Which of the
following is NOT normally a first option
$2000 - CORRECT ANSWER-Under Coverage F- Unscheduled Farm Personal
Property, the most that will be paid for a "head" of livestock(an adult animal, one year of
age or older)
Assume the relicensing is approved - CORRECT ANSWER-The Superintendent of
Insurance may approved the employment, appointment or participation of any person
whose license has been revoked. Karen Jones had her license revoked and filed an
, application for relicensing and has waited over 120 days without a response from the
Insurance Department.
The coverage could be denied - CORRECT ANSWER-If an insured fails to comply with
the immediate notice of claim requirement, which of the following could happen
Actual Cash Value - CORRECT ANSWER-The general property flood coverage form fro
commercial property will settle claims on the basis of
Renters - CORRECT ANSWER-The H0-4 provides not coverage on the dwelling and
broad peril coverage on
DP-3 - CORRECT ANSWER-The most comprehensive coverage provided by the
Dwelling Property program is found in the
180 Days - CORRECT ANSWER-In case of a loss, how many days notice does the
insured have after notification of a claim to submit the claim to the underwriters of the
ocean marine coverage
The policy pays replacement only if the repairs are made within 24 month of the incident
- CORRECT ANSWER-The Equipment Breakdown Policy(formerly called boiler and
machinery) provides for replacement cost coverage in case of a covered claim. Under
what conditions would the insurer only pay ACV in case of a loss
After a waiting period of 72 hours the policy would pay for loss of income of up to 3
weeks - CORRECT ANSWER-An insured is covered under the Businessowner's Policy
a fire has occurred to a business a block away and the civil authorities have blocked off
the stfree. The insured's customers cannot gain entrance to his business location. What
coverages would apply to the insured's loss of income
$250,000 - CORRECT ANSWER-Mr. Owens owns 50% of a building that is worth
$600,000 and is insured for $500,000. What is the maximum that Mr. Owens can collect
in case of a total loss to the building
Leasehold Interest Coverage - CORRECT ANSWER-Which of the following coverages
is NOT provided by the Business Income Coverage Form
ACV Basis - CORRECT ANSWER-How is personal property of a dwelling covered
under a farm policy
Attach the Named Perils form - CORRECT ANSWER-How do you change the property
causes of loss from risks of direct physical loss to named perils coverage under the
BOP
The equipment policy will be primary and the BOP will be excess if the separate policy
does provide adequate limits of coverage - CORRECT ANSWER-The insured is
