NY General Adjuster Test

12/1 - even numbered yrs On what date does an adjuster's license need to be renewed? $1,000 What is the amount of bond that must be posted to obtain and adjuster's license? Not until hearing held When can the Superintendent of Insurance revoke an adjuster's license? a. anytime b. by sending a 30 day notice of the renovation c. not until a hearing is held d. When proof of offense has been received Example of unfair claim settlement act Failing to acknowledge within a reasonable time, communications w/ respect to claims arising out of the insurer's policies An ins regulatory official such as Superintendent of Insurance If found guilty of Fed Insurance fraud, who can permit a guilty individual to return to the insurance business? a. federal official b. no one since this is federal offense ins regulatory official i.e. Super of Ins d. only court of law after proper hearing To provide some form of compulsory insurance What is the reason for the NY financial responsibility law? Is a mandatory coverage In NY must uninsured motorist coverage: a. is optional b. mandatory c. doesn't require sign off for limits d. doesn't cover "hit & run" drivers The insured's property damage coverage Damage to a rental car is paid in NY under which of the following coverages: a. insured's physical damage b. property damage covg c. special endorsement d. must be purchased from rental agency Who must belong to the assigned risk plan? All admitted auto insurers selling auto insurance in NY Covers the employer when the employee is using their vehicle on company business. What does the employer's non-ownership coverage cover?Covers the employer when the employee is using their vehicle on company business. Pain & Suffering Which is not covered under worker's comp coverage? a. med expenses b. pain & suffering c. loss of wages d. funeral expenses The court Who makes a declarat