Insurance License NY Questions and Answers Graded A

Insurance License NY Questions and Answers Graded A New home buyer S called his agent and told him that he wanted the broadest coverage available for his new home. Which policy would the agent be most likely to recommend? A) HO-3 B) HO-5 C) HO-2 D) HO-8 B Which of the following best defines a hazard? A) It eliminates the chance of loss B) It increases the chance of loss C) It is a cause of loss D) It increases the amount of loss B Under the Homeowners Forms, Coverage C includes which type of coverage? A Other Structures B Additional Living Expense C Special Damages D Contents and Personal Property D Under Coverage A of a Dwelling Policy, all of the following are covered, except: A Fire or lightning damage to outdoor television antennas B Land, including the land on which the dwelling is located C Materials for repairing the dwelling, located on the described location D Outdoor equipment on the location used to service the dwelling B Which of the following definitions is NOT amended by the Miscellaneous Type Vehicle - New York PP 03 29 Endorsement? A Newly Acquired Auto B Insured C Miscellaneous Type Vehicle D Physical Damage D Which federal entity administers the Terrorism Insurance Program created by TRIA? A Department of Homeland Security B Department of the Treasury C NAIC D Department of Defense B Which of the following is part of the legal responsibility of maintaining an insurance license? A An agent must inform the Superintendent of any change in address within 10 days B An agent must inform the Superintendent of any change in address within 60 days C An agent must inform the Superintendent of any change in address within 30 days D An agent must inform the Superintendent of any change in address within C The following coverages are all found under Section I of the Homeowners Policy, except: A Other Structures B Personal Injury Liability C Personal Property D Dwelling B Which of the following best describes a liability policy that is written on a primary basis? A It is the policy that pays first with respect to other policies B It shares the loss with other policies covering the same loss C It provides only basic coverage D It pays only after other insurance covering the same loss is exhausted A The rules and procedures to be followed by the insured and the insurer are found in which section of an insurance policy? A Declarations B Conditions C Insuring Agreement D Definitions B A peril is defined as which of the following? A It is a risk of financial loss B It is