NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct)

NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) NY Accident & Health Insurance Licensing Exam Study Guide (2024) || Questions & Answers (100% Correct) Which section of an insurance policy contains language to assist an insurance company in managing morale and moral hazards - ANSWER - The exclusions The funds assessed to be deposited into the NY Special Disability Fund are deposited with? - ANSWER - The Commissioner of Taxation and Finance Someone has been hired to work for Namee Insurance Company to adjust workers compensation claims in the office. This person works as what type of adjuster? - ANSWER - A staff or adjuster who is working as an employee A products-completed operations claim can be made against products manufacturers, wholesalers, and retailers alleging fault and legal responsibilities except for... - ANSWER - Vicarious liability What is an incorrect statement on liability Part A of a Personal Auto Policy - ANSWER - When Part A limits are exhausted any limits for Uninsured Motorists coverage can be used to pay the entire claim What is not true of a Physician, Surgeon, Dentist form? - ANSWER - It is available to be written on an occurrence form only What is not true of the NY Motor Vehicle Accident Indemnification Corporation? - ANSWER - The injured party must submit all medical bills along with the claim forms within 30 days of the accident that caused the injury How much does NY pay a family for death benefits for the minimum financial responsibility limit? - ANSWER - $50,000 The minimum coverage amount for UM/UIM in NY is? - ANSWER - $25,000 per person; $50,000 per accident Part 1 of workers compensation policy covers all but: - ANSWER - Bodily injury caused by employer negligence The NY department has made an exception for claim-made coverage except for what type of risk? - ANSWER - Motor vehicle liability coverage What is not a settlement option for liability claims? - ANSWER - Excessive amounts claimed