New York Adjuster Exam Study Test.
1. Offering any return of premium, valuable
I. Illegal
consider- ation or inducement when
Inducement
purchasing an insurance policy is an example
II. Rebating
of:
2. Under a watercraft or yacht policy how claims
Actual cash value
are set- tled:
3. When may an insured sue an insurance company? Not until the
insured has
complied with all
policy provisions and
within the time limit
specified in the state
laws
4. What is the definition of a non-resident agent? Someone licensed in
their
state and obtains a
license in another state
to solicit insurance
business in that state.
is correct.
5. The court awards a judgment against the insured for The correct
answer is:
$300,000 plus $10,000 of accrued interest and the legal $345,000.
fees amount to an additional $35,000. Our insured has
Explanation:
a $300,000 liability limit on the policy. How The $10,000 of
much will be paid by the policy? accrued pre judgment
interest and the
$35,000 cost of the
defense are all
, New York Adjuster Exam Study Test.
payable
as additional coverage on the policy. These amounts have no attect on
the
limit of liability available in a judgment against the insured. So the
en-
, New York Adjuster Exam Study Test.
tire amount of
$345,000 is payable in
this case.
6. The minimum coverage required in New York for unin- The correct
answer is:
sured motorists bodily injury is: $25,000 per person,
$50,000 per accident. .
Explanation:
New York state law estab-
lished the minimum
cover- age limits of
$25,000 per person,
$50,000 per acci- dent
and up to $50,000 per
person, and $100,000
7. If an insured wishes to cover the mobile home per accident for death.
while it is being transported one from
Purchase the Mobile Home
location to another would:
Transportation Cov-
erage Endorsement on
8. The workers compensation policy language is the homeowner
written by the: policy
National Council on
9. When a homeowners policy has been in Compensation
effect for 60 days in New York, an insurer can Insurance (NCCI)
cancel at anytime for any of the following
reasons, EXCEPT: large loss has occurred
10. Under the underinsured motorist limit, how much will The ditterence
between
be paid on a claim providing the insured can prove his the
negligent driver's
1. Offering any return of premium, valuable
I. Illegal
consider- ation or inducement when
Inducement
purchasing an insurance policy is an example
II. Rebating
of:
2. Under a watercraft or yacht policy how claims
Actual cash value
are set- tled:
3. When may an insured sue an insurance company? Not until the
insured has
complied with all
policy provisions and
within the time limit
specified in the state
laws
4. What is the definition of a non-resident agent? Someone licensed in
their
state and obtains a
license in another state
to solicit insurance
business in that state.
is correct.
5. The court awards a judgment against the insured for The correct
answer is:
$300,000 plus $10,000 of accrued interest and the legal $345,000.
fees amount to an additional $35,000. Our insured has
Explanation:
a $300,000 liability limit on the policy. How The $10,000 of
much will be paid by the policy? accrued pre judgment
interest and the
$35,000 cost of the
defense are all
, New York Adjuster Exam Study Test.
payable
as additional coverage on the policy. These amounts have no attect on
the
limit of liability available in a judgment against the insured. So the
en-
, New York Adjuster Exam Study Test.
tire amount of
$345,000 is payable in
this case.
6. The minimum coverage required in New York for unin- The correct
answer is:
sured motorists bodily injury is: $25,000 per person,
$50,000 per accident. .
Explanation:
New York state law estab-
lished the minimum
cover- age limits of
$25,000 per person,
$50,000 per acci- dent
and up to $50,000 per
person, and $100,000
7. If an insured wishes to cover the mobile home per accident for death.
while it is being transported one from
Purchase the Mobile Home
location to another would:
Transportation Cov-
erage Endorsement on
8. The workers compensation policy language is the homeowner
written by the: policy
National Council on
9. When a homeowners policy has been in Compensation
effect for 60 days in New York, an insurer can Insurance (NCCI)
cancel at anytime for any of the following
reasons, EXCEPT: large loss has occurred
10. Under the underinsured motorist limit, how much will The ditterence
between
be paid on a claim providing the insured can prove his the
negligent driver's
