NY GENERAL ADJUSTER TEST (10-70) QUESTIONS AND CORRECT VERIFIED ANSWERS

NY GENERAL ADJUSTER TEST (10-70)
QUESTIONS AND CORRECT VERIFIED
ANSWERS
12/1A2-A2evenA2numberedA2yrsA2-A2Ans--
OnA2whatA2dateA2doesA2anA2adjuster'sA2licenseA2needA2toA2beA2renewed?

$1,000A2-A2Ans--
WhatA2isA2theA2amountA2ofA2bondA2thatA2mustA2beA2postedA2toA2obtainA2andA2adjuster'sA2li
cense?

NotA2untilA2hearingA2heldA2-A2Ans--
WhenA2canA2theA2SuperintendentA2ofA2InsuranceA2revokeA2anA2adjuster'sA2license?
a.A2anytimeA2b.A2byA2sendingA2aA230A2dayA2noticeA2ofA2theA2renovationA2c.A2notA2untilA2aA2
hearingA2isA2heldA2d.A2WhenA2proofA2ofA2offenseA2hasA2beenA2received

ExampleA2ofA2unfairA2claimA2settlementA2actA2-A2Ans--
FailingA2toA2acknowledgeA2withinA2aA2reasonableA2time,A2communicationsA2w/
A2respectA2toA2claimsA2arisingA2outA2ofA2theA2insurer'sA2policies


AnA2insA2regulatoryA2officialA2suchA2asA2SuperintendentA2ofA2InsuranceA2-A2Ans--
IfA2foundA2guiltyA2ofA2FedA2InsuranceA2fraud,A2whoA2canA2permitA2aA2guiltyA2individualA2toA2
returnA2toA2theA2insuranceA2business?
a.A2federalA2officialA2b.A2noA2oneA2sinceA2thisA2isA2federalA2offenseA2c.anA2insA2regulatoryA2
officialA2i.e.A2SuperA2ofA2InsA2d.A2onlyA2courtA2ofA2lawA2afterA2properA2hearing

ToA2provideA2someA2formA2ofA2compulsoryA2insuranceA2-A2Ans--
WhatA2isA2theA2reasonA2forA2theA2NYA2financialA2responsibilityA2law?

IsA2aA2mandatoryA2coverageA2-A2Ans--
InA2NYA2mustA2uninsuredA2motoristA2coverage:A2a.A2isA2optionalA2b.A2mandatoryA2c.A2does
n'tA2requireA2signA2offA2forA2>A2limitsA2d.A2doesn'tA2coverA2"hitA2&A2run"A2drivers

TheA2insured'sA2propertyA2damageA2coverageA2-A2Ans--
DamageA2toA2aA2rentalA2carA2isA2paidA2inA2NYA2underA2whichA2ofA2theA2followingA2coverag
es:A2a.A2insured'sA2physicalA2damageA2b.A2propertyA2damageA2covgA2c.A2specialA2endorse
mentA2d.A2mustA2beA2purchasedA2fromA2rentalA2agency

WhoA2mustA2belongA2toA2theA2assignedA2riskA2plan?A2-A2Ans--
AllA2admittedA2autoA2insurersA2sellingA2autoA2insuranceA2inA2NY

CoversA2theA2employerA2whenA2theA2employeeA2isA2usingA2theirA2vehicleA2onA2companyA2
business.A2-A2Ans--WhatA2doesA2theA2employer'sA2non-ownershipA2coverageA2cover?

, CoversA2theA2employerA2whenA2theA2employeeA2isA2usingA2theirA2vehicleA2onA2companyA2
business.

PainA2&A2SufferingA2-A2Ans--
WhichA2isA2notA2coveredA2underA2worker'sA2compA2coverage?A2
a.A2medA2expensesA2b.A2painA2&A2sufferingA2c.A2lossA2ofA2wagesA2d.A2funeralA2expenses

TheA2courtA2-A2Ans--
WhoA2makesA2aA2declaratoryA2judgmentA2asA2toA2theA2meritsA2ofA2aA2claim?
a.A2claimsA2adjA2b.A2insurerA2attorneyA2c.A2courtA2d.A2claimantsA2attorney

VicariousA2-A2Ans--
WhatA2typeA2ofA2liabilityA2doesA2anA2employerA2assumeA2throughA2theirA2employees?
A2a.A2primaryA2b.A2contingentA2c.A2vicariousA2d.A2noA2fault


TheA2insuringA2agreementA2-A2Ans--
WhatA2partA2ofA2theA2policyA2containsA2theA2promisesA2madeA2byA2theA2insuranceA2compa
nyA2toA2theA2insured?
A2a.A2conditionsA2clauseA2b.A2definitionsA2c.A2exceptionsA2toA2exclusionsA2d.A2insuringA2agr
eement

AtA2theA2timeA2ofA2theA2lossA2-A2Ans--
InA2propertyA2&A2casualtyA2insurance,A2whenA2mustA2aA2personA2absolutelyA2haveA2anA2in
surableA2interest?
A2a.A2timeA2ofA2appA2completionA2b.A2timeA2ofA2lossA2c.A2atA2anyA2timeA2d.A2insuringA2agree
ment

DefinitionA2ofA2considerationA2-A2Ans--
SomethingA2thatA2hasA2valueA2inA2theA2eyesA2ofA2theA2lawA2inA2whichA2aA2promiseA2receiv
esA2somethingA2inA2returnA2forA2aA2promise

AleatoryA2-A2Ans--
TheA2promiseA2byA2oneA2partyA2thatA2isA2conditionedA2onA2aA2fortuitousA2eventA2andA2theA
2valuesA2givenA2byA2theA2partiesA2areA2unequalA2isA2called?
a.A2executoryA2b.A2aleatoryA2c.A2speculationA2d.A2aA2staticA2risk

ViolentA2actA2thatA2isA2dangerousA2toA2humanA2lifeA2andA2propertyA2-A2Ans--
WhatA2constitutesA2anA2actA2ofA2terrorism

LossesA2overA2$5,000,000A2-A2Ans--
HowA2muchA2propertyA2andA2casualtyA2losA2mustA2beA2sustainedA2toA2beA2consideredA2an
A2actA2ofA2terrorismA2toA2beA2coveredA2byA2theA2TerrorismA2RiskA2InsuranceA2ActA2ofA2200
2

ActA2ofA2terrorismA2&A2coveredA2underA2TerrorismA2RiskA2ActA2ofA22002,A2actA2mustA2beA2
committedA2by?A2-A2Ans--