New York Adjuster Exam Latest
Update Questions with
Excellent Answers Guaranteed
Pass Graded A
A "full release settlement" when properly prepared, should include: - Answer -The names of the
releasee and releasor
A Building and Personal Property Coverage form provides coverage for all of the following types of
property, EXCEPT: - Answer -Growing crops and lawns.
A building is insured by three insurance companies to spread coverage on a particular type of hazardous
risk. In case of a loss under a Commercial Property policy, the payment of the claim would invoke the
pro-rata liability clause which means: - Answer -Each insurer pays in accordance to the percentage
its coverage bears to the total amount of insurance in force.
A claims dispute where a disinterested third party who has decision making authority has been asked to
intervene is known as: - Answer -arbitration
A Commercial Package Policy (CPP) always includes: - Answer -A Commercial Package Policy (CPP)
always includes a common Declarations page and Conditions section. It does not include a common
Exclusions section, as the items excluded would be specific to the coverage part.
A Commercial Property Policy includes a protective safeguard endorsement indicating there are
protective safeguards installed in the risk such as a sprinkler system. Should the system become
inoperative, how long does the insured have to report this fact to the insurer? - Answer -48 hrs
A commercial property policy specifies which of the following responsibilities as a duty of the insured? -
Answer -To provide a proof of loss statement following a loss if requested by the company.
A farmer purchases a crop hail policy with a limit of $10,000 on 5000 acres that sustains a 30% loss.
Coverage is written with a 5% minimum loss before the policy will pay. How much will the farmer
receive? - Answer -$3,000
A New York licensee subject to an administrative action in another jurisdiction or governmental agency
must report such action to the Superintendent within: - Answer -30 days
A non-waiver agreement allows the insurer to: - Answer -Investigate a loss without implying that it
is covered
, A person becomes legally liable by: - Answer -committing a tort
A tenant leases space in a building. The tenant's space is damaged by fire. When will the Commercial
Property policy pay for the damage? - Answer -When the owner of the building submits proof of
loss for the damage
A typical boatowners policy includes all of the following coverages EXCEPT: - Answer -When used
to carry cargo for others for a fee .
A typical Homeowners policy without a Home Business endorsement has how much coverage available
for business personal property? - Answer -$2500
A warranty in insurance is best described as which of the following? - Answer -A guarantee that
the statements made by the applicant are completely true and untrue statements can void the coverage.
.
A weather report would be considered what type of evidence? - Answer -documentary
Adverse selection occurs when: - Answer -Applicants are accepted by the insurer with little or no
attention given to underwriting. .
After a claim has been paid, any recovery rights applying to the amount paid by the insurance company
belong to: - Answer -The insurance company.
After receiving an inquiry from the New York Department of Insurance regarding a claim, an insurer must
respond within: - Answer -10 business days.
All of the following are claim practice principles (ethical principles) to be followed by all insurers in New
York, EXCEPT: - Answer -
All of the following are EXCLUDED under the Earthquake Endorsement to a Homeowners policy, EXCEPT:
- Answer -Land shock waves
All of the following are perils insured against by the Dwelling Broad Theft Coverage Endorsement - DP 04
83, EXCEPT: - Answer -robbery
All of the following are reasons that an adjuster should keep very detailed log notes, EXCEPT: -
Answer -To produce notes that will support a fraudulent denial of claims.
All of the following are true regarding the "write your own" program under flood insurance, EXCEPT: -
Answer -Insurers are required to participate in the program
All of the following statements about HO-8 are correct, EXCEPT: - Answer -HO-8 covers the same
named perils as the HO-2..
All of the following would be covered under a Builders Risk Policy, EXCEPT: - Answer -Prospective
buyer.
Update Questions with
Excellent Answers Guaranteed
Pass Graded A
A "full release settlement" when properly prepared, should include: - Answer -The names of the
releasee and releasor
A Building and Personal Property Coverage form provides coverage for all of the following types of
property, EXCEPT: - Answer -Growing crops and lawns.
A building is insured by three insurance companies to spread coverage on a particular type of hazardous
risk. In case of a loss under a Commercial Property policy, the payment of the claim would invoke the
pro-rata liability clause which means: - Answer -Each insurer pays in accordance to the percentage
its coverage bears to the total amount of insurance in force.
A claims dispute where a disinterested third party who has decision making authority has been asked to
intervene is known as: - Answer -arbitration
A Commercial Package Policy (CPP) always includes: - Answer -A Commercial Package Policy (CPP)
always includes a common Declarations page and Conditions section. It does not include a common
Exclusions section, as the items excluded would be specific to the coverage part.
A Commercial Property Policy includes a protective safeguard endorsement indicating there are
protective safeguards installed in the risk such as a sprinkler system. Should the system become
inoperative, how long does the insured have to report this fact to the insurer? - Answer -48 hrs
A commercial property policy specifies which of the following responsibilities as a duty of the insured? -
Answer -To provide a proof of loss statement following a loss if requested by the company.
A farmer purchases a crop hail policy with a limit of $10,000 on 5000 acres that sustains a 30% loss.
Coverage is written with a 5% minimum loss before the policy will pay. How much will the farmer
receive? - Answer -$3,000
A New York licensee subject to an administrative action in another jurisdiction or governmental agency
must report such action to the Superintendent within: - Answer -30 days
A non-waiver agreement allows the insurer to: - Answer -Investigate a loss without implying that it
is covered
, A person becomes legally liable by: - Answer -committing a tort
A tenant leases space in a building. The tenant's space is damaged by fire. When will the Commercial
Property policy pay for the damage? - Answer -When the owner of the building submits proof of
loss for the damage
A typical boatowners policy includes all of the following coverages EXCEPT: - Answer -When used
to carry cargo for others for a fee .
A typical Homeowners policy without a Home Business endorsement has how much coverage available
for business personal property? - Answer -$2500
A warranty in insurance is best described as which of the following? - Answer -A guarantee that
the statements made by the applicant are completely true and untrue statements can void the coverage.
.
A weather report would be considered what type of evidence? - Answer -documentary
Adverse selection occurs when: - Answer -Applicants are accepted by the insurer with little or no
attention given to underwriting. .
After a claim has been paid, any recovery rights applying to the amount paid by the insurance company
belong to: - Answer -The insurance company.
After receiving an inquiry from the New York Department of Insurance regarding a claim, an insurer must
respond within: - Answer -10 business days.
All of the following are claim practice principles (ethical principles) to be followed by all insurers in New
York, EXCEPT: - Answer -
All of the following are EXCLUDED under the Earthquake Endorsement to a Homeowners policy, EXCEPT:
- Answer -Land shock waves
All of the following are perils insured against by the Dwelling Broad Theft Coverage Endorsement - DP 04
83, EXCEPT: - Answer -robbery
All of the following are reasons that an adjuster should keep very detailed log notes, EXCEPT: -
Answer -To produce notes that will support a fraudulent denial of claims.
All of the following are true regarding the "write your own" program under flood insurance, EXCEPT: -
Answer -Insurers are required to participate in the program
All of the following statements about HO-8 are correct, EXCEPT: - Answer -HO-8 covers the same
named perils as the HO-2..
All of the following would be covered under a Builders Risk Policy, EXCEPT: - Answer -Prospective
buyer.
