New York Insurance Exam with all Correct & 100%
Verified Answers |Actual Complete Update |Already
Graded A+
information about the premium and policy limites, the identity and address of the named
insured, and the policy period is found in which part of the insurance policy? ✔Correct
Answer-Declaration page
if an insured intentioanlly conceals a material fact on an application for insurance, the coverage
may be: ✔Correct Answer-voided
anyone who threatens, forces or corruptly influences, obstructs or impedes the due and proper
administration of the fraud law relating to the insurance business may be fined and/or
imprisoned up to: ✔Correct Answer-10 years
Situation question:
Kelly would like to obtain an independent adjuster license in New York, However, she has been
convicted of a felony involving dishonesty or breach of trust. Which is not required for the
superintendent to grant the waiver? ✔Correct Answer-evidence must be submitted to show
the restitution was made to people of the state of new york for the felony in which kelly was
convicted
definition of concurrent causation ✔Correct Answer-two or more perils that cause a single
loss
under the terrorism risk insurance program reauthorization act of 2015, the maximum limit for
the Act for total claims paid under the Act by either private insurers or the government is still
limited to: ✔Correct Answer-$100 billion
an insured has her property covered under an "open peril" cause of loss form, She experiences
a loss. The burden of proof that the peril that was the actual cause of loss in the claim, lies
within: ✔Correct Answer-the insurance company
in new york, the insurer is required to provide claim forms to the insured within _____ of being
notified of the loss ✔Correct Answer-15 days
the mandatory recoupment of the federal share through policy holder surcharges under
terrorism risk insurance program reauthorization act of 2015 was increased from 133% to
✔Correct Answer-140%
, the terrorism risk ask of 2015 excludes all acts of terrorism if the act is committed as part of the
course of a war declared by congress with the exception of one line of insurance. Which of the
following is the only line of the insurance that would still be covered in case of war? ✔Correct
Answer-workers compensation
the terrorism act of 2015 excludes all except: ✔Correct Answer-commercial property
all of the following are claim practice principles (ethical principles) to be followed by all insurers
in New York, except: ✔Correct Answer-the new york adjuster should demand verification of
facts, even if the facts presented by the claimant are reasonably clear, just to be sure the insurer
does not pay a claim for which they are not responsible.
describe a representation in an insurance application ✔Correct Answer-a statement made by
the applicant that he believes to be true when made, but which might prove to be false
what is NOT true concerning the large number law? ✔Correct Answer-the size of the sample
group is not relevant to the accuracy of the results
the doctrine that states an insured's policy should provide the coverage that a sensible and
prudent person would expect is: ✔Correct Answer-the reasonable expectation doctrine
describe the concept of risk ✔Correct Answer-uncertainty of loss
Situational question:
Mikala is walking to her car and suddenly a guy comes up and is holding a gun to her head
demanding her purse or he will kill her. Mikala just experienced: ✔Correct Answer-robbery
the adjuster bond required in New York is payable to ✔Correct Answer-the state of new york
when can the new york superintendent of insurance revoke an adjuster's license? ✔Correct
Answer-not until a hearing is held
what is generally not considered to be legal defense against claims of negligence? ✔Correct
Answer-loss to the plaintiff was caused intentionally by the defendant
under the new york cybersecurity regulation, an exempt covered entity that ceases to qualify
for an exemption will have _____ to comply with the requirements of the regulations.
✔Correct Answer-180 days
under the new york cybersecurity regulation each covered entity, including insurance
companies, must submit a written statement by ______ of each year certifuing that it is in
compliance: ✔Correct Answer-february 15
Verified Answers |Actual Complete Update |Already
Graded A+
information about the premium and policy limites, the identity and address of the named
insured, and the policy period is found in which part of the insurance policy? ✔Correct
Answer-Declaration page
if an insured intentioanlly conceals a material fact on an application for insurance, the coverage
may be: ✔Correct Answer-voided
anyone who threatens, forces or corruptly influences, obstructs or impedes the due and proper
administration of the fraud law relating to the insurance business may be fined and/or
imprisoned up to: ✔Correct Answer-10 years
Situation question:
Kelly would like to obtain an independent adjuster license in New York, However, she has been
convicted of a felony involving dishonesty or breach of trust. Which is not required for the
superintendent to grant the waiver? ✔Correct Answer-evidence must be submitted to show
the restitution was made to people of the state of new york for the felony in which kelly was
convicted
definition of concurrent causation ✔Correct Answer-two or more perils that cause a single
loss
under the terrorism risk insurance program reauthorization act of 2015, the maximum limit for
the Act for total claims paid under the Act by either private insurers or the government is still
limited to: ✔Correct Answer-$100 billion
an insured has her property covered under an "open peril" cause of loss form, She experiences
a loss. The burden of proof that the peril that was the actual cause of loss in the claim, lies
within: ✔Correct Answer-the insurance company
in new york, the insurer is required to provide claim forms to the insured within _____ of being
notified of the loss ✔Correct Answer-15 days
the mandatory recoupment of the federal share through policy holder surcharges under
terrorism risk insurance program reauthorization act of 2015 was increased from 133% to
✔Correct Answer-140%
, the terrorism risk ask of 2015 excludes all acts of terrorism if the act is committed as part of the
course of a war declared by congress with the exception of one line of insurance. Which of the
following is the only line of the insurance that would still be covered in case of war? ✔Correct
Answer-workers compensation
the terrorism act of 2015 excludes all except: ✔Correct Answer-commercial property
all of the following are claim practice principles (ethical principles) to be followed by all insurers
in New York, except: ✔Correct Answer-the new york adjuster should demand verification of
facts, even if the facts presented by the claimant are reasonably clear, just to be sure the insurer
does not pay a claim for which they are not responsible.
describe a representation in an insurance application ✔Correct Answer-a statement made by
the applicant that he believes to be true when made, but which might prove to be false
what is NOT true concerning the large number law? ✔Correct Answer-the size of the sample
group is not relevant to the accuracy of the results
the doctrine that states an insured's policy should provide the coverage that a sensible and
prudent person would expect is: ✔Correct Answer-the reasonable expectation doctrine
describe the concept of risk ✔Correct Answer-uncertainty of loss
Situational question:
Mikala is walking to her car and suddenly a guy comes up and is holding a gun to her head
demanding her purse or he will kill her. Mikala just experienced: ✔Correct Answer-robbery
the adjuster bond required in New York is payable to ✔Correct Answer-the state of new york
when can the new york superintendent of insurance revoke an adjuster's license? ✔Correct
Answer-not until a hearing is held
what is generally not considered to be legal defense against claims of negligence? ✔Correct
Answer-loss to the plaintiff was caused intentionally by the defendant
under the new york cybersecurity regulation, an exempt covered entity that ceases to qualify
for an exemption will have _____ to comply with the requirements of the regulations.
✔Correct Answer-180 days
under the new york cybersecurity regulation each covered entity, including insurance
companies, must submit a written statement by ______ of each year certifuing that it is in
compliance: ✔Correct Answer-february 15
