NEW YORK INSURANCE EXAM 2025
QUESTIONS AND ANSWERS
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? -
ANS Declaration page
if an insured intentioanlly conceals a material fact on an application for insurance, the coverage
may be: - ANS 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: - ANS 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? - ANS 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 - ANS 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: - ANS $100 billion
1 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
,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: - ANS the insurance company
in new york, the insurer is required to provide claim forms to the insured within _____ of being
notified of the loss - ANS 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 -
ANS 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? -
ANS workers compensation
the terrorism act of 2015 excludes all except: - ANS commercial property
all of the following are claim practice principles (ethical principles) to be followed by all insurers
in New York, except: - ANS 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 - ANS 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? - ANS 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: - ANS the reasonable expectation doctrine
2 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
, describe the concept of risk - ANS 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: - ANS robbery
the adjuster bond required in New York is payable to - ANS the state of new york
when can the new york superintendent of insurance revoke an adjuster's license? - ANS not
until a hearing is held
what is generally not considered to be legal defense against claims of negligence? - ANS 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. -
ANS 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: - ANS february 15
What is not a characteristic of an aleatory contract? - ANS contract allows the insured to
receive a return on claims payments that is nearly equal to the amount paid in premium
Situational example:
Steve and his insurance cannot agree on the amount of property damage. Both parties selected
an appraiser but can't agree on the amount the appraisers attempt to select the umpire but
3 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
QUESTIONS AND ANSWERS
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? -
ANS Declaration page
if an insured intentioanlly conceals a material fact on an application for insurance, the coverage
may be: - ANS 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: - ANS 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? - ANS 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 - ANS 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: - ANS $100 billion
1 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
,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: - ANS the insurance company
in new york, the insurer is required to provide claim forms to the insured within _____ of being
notified of the loss - ANS 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 -
ANS 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? -
ANS workers compensation
the terrorism act of 2015 excludes all except: - ANS commercial property
all of the following are claim practice principles (ethical principles) to be followed by all insurers
in New York, except: - ANS 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 - ANS 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? - ANS 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: - ANS the reasonable expectation doctrine
2 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
, describe the concept of risk - ANS 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: - ANS robbery
the adjuster bond required in New York is payable to - ANS the state of new york
when can the new york superintendent of insurance revoke an adjuster's license? - ANS not
until a hearing is held
what is generally not considered to be legal defense against claims of negligence? - ANS 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. -
ANS 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: - ANS february 15
What is not a characteristic of an aleatory contract? - ANS contract allows the insured to
receive a return on claims payments that is nearly equal to the amount paid in premium
Situational example:
Steve and his insurance cannot agree on the amount of property damage. Both parties selected
an appraiser but can't agree on the amount the appraisers attempt to select the umpire but
3 Copyright ©2025 THESTAR ALL RIGHTS RESERVED
