NY Independent General Adjuster
Practice Exam
Which of the following is covered by a dread disease policy? - answer 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? - answerchief
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? - answerper occurrence
An injured employee covered under workers' compensation is entitled to reasonably
justifiable expenses for retraining. This benefit falls under which of the following? -
answervocational rehabilitation
Which of the following is the party who agrees to be responsible for loss in the case of a
fidelity bond? - answerthe surety
What increases the potential loss of an unforeseen event that causes injury to an
insured or damage to property? - answerHazard
Which of the following sides represent the front surface of the patient? - answeranterior
Which party is required to provide proof of loss to establish entitlement? - answerthe
insured
What does homeowners Coverage B - Other Structures cover? - answerstructures
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? - answerminimizing further
loss
When an agent tries to convince a policyholder to replace an existing policy to buy
another one, what are they practicing? - answermisrepresentation
How long is the broad theft coverage endorsement invalid if the property is vacant? -
answerMore 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? - answermysterious
disappearance
Before taking legal action, what third-party can help end disputes over the value of a
loss? - answerarbitrator
The Liability section of the Farmowners Policy would exclude coverage for which of the
following operations? - answerRepairing tractors owned by neighboring farmers.
All of the following are tax qualified retirement plans EXCEPT - answerSection 529 plan.
Which policy condition encourages policyholder to insure to at least 80% of replacement
value to avoid a penalty with partial losses? - answercoinsurance
Which one of the following represents an advantage of obtaining a policy loan vesus a
withdrawal? - answerthe loan is not taxed while a withdrawal is taxed for amounts
above the contract cost basis
A Basic Hospital Policy pays expenses for - answerhospital room and board.
Which type of bond specifically protects against dishonesty by employees whose names
or positions are listed in the policy? - answerscheduled
Exclusions common to liability coverage for both the personal auto policy and the
business auto policy include all of the following EXCEPT - answerfor liability arising
while the insured auto is being used in an auto business.
All of the following are TRUE regarding underinsured motorists coverage EXCEPT -
answerit is of little consequence who was at fault for the coverage to apply.
Which type of endorsement covers causes of loss specifically listed in the policy? -
answernamed perils
Which of the following is TRUE for a flexible premium annuity? - answerThe purchaser
has the option to vary the amount of each premium payment falling between a minimum
and maximum amount.
Which of the following is NOT a nonforfeiture option available in a Whole Life Policy? -
answerAccumulation at interest
The property coverage of a BOP includes which of the following? - answercarpeting that
is permanently installed inside the building
Practice Exam
Which of the following is covered by a dread disease policy? - answer 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? - answerchief
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? - answerper occurrence
An injured employee covered under workers' compensation is entitled to reasonably
justifiable expenses for retraining. This benefit falls under which of the following? -
answervocational rehabilitation
Which of the following is the party who agrees to be responsible for loss in the case of a
fidelity bond? - answerthe surety
What increases the potential loss of an unforeseen event that causes injury to an
insured or damage to property? - answerHazard
Which of the following sides represent the front surface of the patient? - answeranterior
Which party is required to provide proof of loss to establish entitlement? - answerthe
insured
What does homeowners Coverage B - Other Structures cover? - answerstructures
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? - answerminimizing further
loss
When an agent tries to convince a policyholder to replace an existing policy to buy
another one, what are they practicing? - answermisrepresentation
How long is the broad theft coverage endorsement invalid if the property is vacant? -
answerMore 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? - answermysterious
disappearance
Before taking legal action, what third-party can help end disputes over the value of a
loss? - answerarbitrator
The Liability section of the Farmowners Policy would exclude coverage for which of the
following operations? - answerRepairing tractors owned by neighboring farmers.
All of the following are tax qualified retirement plans EXCEPT - answerSection 529 plan.
Which policy condition encourages policyholder to insure to at least 80% of replacement
value to avoid a penalty with partial losses? - answercoinsurance
Which one of the following represents an advantage of obtaining a policy loan vesus a
withdrawal? - answerthe loan is not taxed while a withdrawal is taxed for amounts
above the contract cost basis
A Basic Hospital Policy pays expenses for - answerhospital room and board.
Which type of bond specifically protects against dishonesty by employees whose names
or positions are listed in the policy? - answerscheduled
Exclusions common to liability coverage for both the personal auto policy and the
business auto policy include all of the following EXCEPT - answerfor liability arising
while the insured auto is being used in an auto business.
All of the following are TRUE regarding underinsured motorists coverage EXCEPT -
answerit is of little consequence who was at fault for the coverage to apply.
Which type of endorsement covers causes of loss specifically listed in the policy? -
answernamed perils
Which of the following is TRUE for a flexible premium annuity? - answerThe purchaser
has the option to vary the amount of each premium payment falling between a minimum
and maximum amount.
Which of the following is NOT a nonforfeiture option available in a Whole Life Policy? -
answerAccumulation at interest
The property coverage of a BOP includes which of the following? - answercarpeting that
is permanently installed inside the building
