NY Independent General Adjuster Exam - Series 17-70 Questions and Answers 100% Pass

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NY Independent General Adjuster Exam - Series 17-70 Questions and Answers 100% Pass Dram Shop Liability refers to: ✔✔Liquor Law Liability. The insured has suffered a covered loss under his DP-... 3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? ✔✔Neglect. To be eligible for the New York assigned risk auto plan a person must: ✔✔Hold a valid driver's license. Any insurance adjuster whose license has been revoked for cause will not be entitled to apply for any other insurance license in New York until at least: ✔✔One Year. A typical benefit design for a long term care policy does not include a: ✔✔Conditionally or optionally renewability feature. In New York the workers compensation program is administered by the Workers Compensation Board which establishes guidelines for the program. Notice of injury or death to a worker is required to be submitted to the employer within what period of time? ✔✔30 Days. A common carrier is not held liable for the loss of a shipper's goods when the loss results from: ✔✔An Act of God. If one is found guilty of federal insurance fraud, who can permit the guilty individual to return to the insurance business? ✔✔Only an insurance regulatory official. When is a passenger first covered under an aircraft policy? ✔✔When Entering the Aircraft. If an insured takes precautionary measures to protect property from flood damage such as creating a retaining wall of sand bags, how much coverage if any, will be provided by a flood policy? ✔✔$1,000 if the flood is imminent and the property is in danger of flooding. Which Commercial Forms would cover sinkhole collapse? ✔✔Basic, Broad, and Special. ______ is a movement allowed by certain joints of the skeleton that decreases the angle between two adjoining bones. ✔✔Flexion The listing of the perils covered is found in which part of a homeowner policy? ✔✔Insuring Agreement. If a dog owned by a customer is injured in the parking lot of a store, is that considered bodily injury under liability coverage? ✔✔No. The dog is property and would be consider property damage. The Superintendent of Insurance may approve the employment, appointment or participation of any person whose license has been revoked. Karen Jones had her license revoked and filed an application for relicensing and has waited over 120 days without a response from the Insurance Department. What should or can she do? ✔✔Assume the relicensing is approved. Mr. Vickers was in a hurry to catch a plane. He parks his car in the parking garage at the airport and leaves the keys in the ignition. When he returns he finds that his car has been stolen. Later the car was discovered with severe collision damage. The airport carries Garagekeeper's Legal Liability coverage and Mr. Vickers carries Liability and Comprehensive coverage on his auto. What coverage would apply? ✔✔Mr. Vickers comprehensive coverage. An automobile is polluting the environment. What engine component could be the primary cause? ✔✔Catalytic Converter Malfunction. Under the dwelling policy, DP2 or D3, what is the maximum amount of Coverage A that would be paid for additional living expenses? ✔✔20% Workers compensation policies also include employer's liability coverage. If any employer fails to maintain the equipment and an employee is injured, would it be covered under this coverage? ✔✔Yes. Fidelity bonds are typically written to be effective for a: ✔✔Continuous term without an expiration date. One purpose of a deductible is to: ✔✔Eliminate small claims. If the insured has failed to pay the premium for a worker compensation policy issued in New York, how many days notice of cancellation must be sent to the insured? ✔✔A 10 day notice. A ship owner wanting coverage in case crew members bring liability suits for injuries sustained while working would purchase: ✔✔Protection and Indemnity Under workers compensation in New York, which of the following does not raise the premium based on it being a proportion of the charged premium? ✔✔Premium Discount. What is an example of a moral hazard? ✔✔Embezzlement If an insured is responsible for damaging a client's million dollar shipment of products, would this coverage be covered by the commercial umbrella liability coverage under BI and PD coverage? ✔✔Yes. A homeowner with personal property insured for $60,000 had a fire which destroyed everything. The total value of the personal property at the time of the loss was only $50,000. What principle would be violated if her insurer paid her more than $50,000? ✔✔Principle of Indemnity. What is the appropriate manner in which to sign a "release of all claims?" ✔✔Must use full legal name. Jane becomes injured in an auto accident caused when she took her eyes off the road to send a text message on her cell phone. This is an example of a: ✔✔Morale Hazard. The deductible on the Equipment Breakdown form can be stated in what 3 ways? ✔✔Fixed Dollar Amount, Time Deductible, and Percentage of Loss. A car has had the front sheet metal replaced. The fender-to-door gap is wider on the passenger side than on the driver side and the hood appears out of alignment. Technician A says that only the hood latch is misaligned. Technician B says the front structure of the vehicle is not dimensionally correct. Who is right? ✔✔Technician B only. 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? ✔✔When the owner of the building submits proof of loss for the damage. Dwelling forms provide what amount of coverage for grave markers and mausoleums? ✔✔Nothing. Homeowners form provide a limit of $5,000. Does a flat deductible apply to basic scheduled dental plans? ✔✔No. With crop insurance policies, the coverage period is usually: ✔✔Limited to the growing period for the particular crop being insured. What does an employer's non-ownership coverage under the BAP cover? ✔✔Covers the employer when the employee is using their vehicle on company business. To collect under uninsured motorist coverage in New York, the insured must prove: ✔✔There was a hit and run driver and physical contact made. The health insurance provision that permits the insurer to pay limited death benefits to a relative of the insured is known as: ✔✔Facility of Payment. What is Demurrage? ✔✔Compensation for the delaying of a vessel carrying freight. How would two insurance companies pay a claim under the "Contribution by Equal Shares" clause? ✔✔Each would pay the same until its limits are exhausted. What does Coverage G under the Farm Forms cover? ✔✔Barns, Silos, and Fences. MIG welding on a rocker panel creates a heat- affected area. What concerns should a technician be aware of when performing this procedure? ✔✔Destruction of the factory coating on the interior of the panel. A licensee must report to the Superintendent of Insurance any administrative action taken against the licensee in another jurisdiction or by another governmental agency in this state within _____ of the final disposition of the matter. ✔✔30 Days. Is damage to a covered auto while being used as part of a car pool covered under the PD coverage of a PAP? ✔✔Yes. Does the National Flood Insurance Program provide coverage for losses caused by water-main breakage? ✔✔No. Which of the following is not required to obtain an adjuster license in New York? A licensed NY attorney, adjuster of maritime losses, or CEO? ✔✔None. How many years must a business be operational in New York before it can qualify as a selfinsurer for workers compensation? ✔✔3 Years. What coverage does the Difference in Conditions form provide? ✔✔Gaps left by other property insurance forms. What would most likely be the effect of an insured's b [Show More]

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