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St. John’s University
(New York, NY)
[Risk Management and Insurance Program.]
State Insurance Claims Adjusters Certification
New York, NY Claims Adjuster Exam
Course Title and Number: Claims Adjuster Exam Exam Title: Board Exam Exam Date: Exam 2024- 2025 Instructor: [Insert Instructor’s Name] Student Name: [Insert Student’s Name] Student ID: [Insert Student ID]
Examination
180 minutes
Instructions:
- Read each question carefully.
- Answer all questions.
- Use the provided answer sheet to mark your responses.
- Ensure all answers are final before submitting the exam.
- Please answer each question below and click Submit when you have completed the Exam.
- This test has a time limit, The test will save and submit automatically when the time expires
- This is Exam which will assess your knowledge on the course Learning Resources.
Good Luck!
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State Insurance Claims Adjusters Certification 2024- New York N.Y Auto Adjuster Series 17-66 Exam Review Questions and Answers | 100% Pass Guaranteed | Graded A+ | Read All Instructions Carefully and Answer All the Questions Correctly Good Luck: - In New York, insurers must maintain records pertaining to claims, rating, underwriting, marketing and other pertinent information for a period of: - =Answer>> The law requires that these records be maintained for inspection and/or review for at least six years. Which of the following relieves the financial burden on the claimant by making certain payments to the claimant even before the claim is negotiated? - =Answer>> Advance Payment. EXPLANATION : Most adjusters are given the authority to make advance payments when liability is clear. This relieves the financial burden on the claimant when funds are needed immediately. The remainder of the claim is negotiated and settled at a later date In the insurance industry, which of the following terms refers to continuous or repeated exposure to conditions that may result in bodily injury or property damage neither expected nor intended? - =Answer>> An occurrence. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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forgery and counterfeit money additional coverage is: - =Answer>> $1,000. EXPLANATION : In NY the limit of insurance under the credit card, electronic fund transfer card or access device, forgery and counterfeit money additional coverage was increased from $500 to $1,000. Under the Motor Carrier Act of 1980, a vehicle hauling excess oil, explosives or nitrous gases is required to carry a minimum liability limit of: - =Answer>> $5,000,000. EXPLANATION : Although oil haulers are only required to carry $1,000,000, the key word here is "excess oil" and when followed up with "explosives" makes this freight hazardous requiring the $5,000,000 limit. In New York, the insurer is required to provide claim forms to the insured within _____ of being notified of the loss. - =Answer>> 5 days. EXPLANATION : Claim forms must be provided within 15 days after notification of the loss. Which of the following coverages would apply to a rental car used by an insured executive while on vacation? - =Answer>> Coverage for nonowned autos.. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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EXPLANATION :
The personal auto policy covers the use of a non-owned auto whether it be a rental car or a vehicle belonging to a friend. In New York, a lawsuit against an insurance company must be commenced within _______ after the claim. - =Answer>> 24 months. EXPLANATION : No suit or action on a policy for the recovery of any claim will be sustainable in any court of law or equity unless all the requirements of the policy have been complied with, unless commenced within 24 months next after inception of the loss. Under the Federal Insurance Fraud and False Statements Act, if someone is prohibited from doing business in a state, approval to resume transacting business must be granted by: - =Answer>> Submitting a 1033 waiver form and having it approved by an insurance regulatory official in his or her state.. EXPLANATION : Only an insurance regulatory official, such as the Insurance Commissioner, can grant permission to resume business. The BAP uses Symbol 7 to cover "specifically described autos" identified in the declarations. An auto acquired during the policy period will only be covered: - =Answer>> If Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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damages are usually determined at a later date and negotiated with the insured. What type of liability is specifically addressed by statute? - =Answer>> Strict Liability. EXPLANATION : Strict liability is specifically addressed by statute. Basically there is little if any defense on the part of the negligent party. Products liability is often the subject of strict liability claims. Liability coverage under the personal auto policy includes: - =Answer>> The correct answer is: Both bodily injury and property damage coverage. EXPLANATION : The policy provides both bodily injury and property damage liability coverage. It does not cover the insured's personal property or personal property of others in the insured's vehicle. All of the following statements regarding the Motor Carrier Act of 1980 are correct, EXCEPT: - =Answer>> It requires truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations.. EXPLANATION : The Motor Carrier Act applies to liability only. The MCS- form is used to indicate that the vehicle in question has Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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coverage including pollution liability for specifies limits being defined by what is being hauled. The supplementary payments under the personal auto policy: - =Answer>> Will pay the insured up to $200 per day for loss of earnings due to testifying at a trial concerning an accident caused by the insured. EXPLANATION : The policy will pay up to $200 per day for loss of earnings, but not other income, because of attendance at hearings or trials at the company's request. Which of the following best describes the purpose of an "insuring agreement"? - =Answer>> To describe the promises of the insurer and the insured and the coverages provided. EXPLANATION : Insuring agreements are the promises or obligations of the insurer and the insured. In property insurance, it also contains the coverage the insured has purchased. A non-waiver agreement allows the insurer to: - =Answer>> Investigate a loss without implying that it is covered. EXPLANATION : A non-waiver agreement is a signed agreement in which the policyholder stipulates that the continuance of a loss investigation and adjustment process by the insurer will not be construed as an admission of coverage by the insurer. This form is used when there are substantial questions as Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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EXPLANATION :
Where serious injury has occurred, a covered person does have the right to sue the other covered person for non- economic loss like pain and suffering. Which of the following is most likely to be uninsurable? - =Answer>> The purchaser of a new home wants to protect herself from a possible drop in housing prices.. EXPLANATION : Investing in real estate is an example of a speculative risk. The other choices are pure risks. Speculative risks are not uninsurable while many pure risks are insurable. Uninsured motorist coverage would not pay if: - =Answer>> Other liability coverage applies. EXPLANATION : If there is other collectable liability coverage the uninsured motorist coverage would not pay the claim. What type of liability is imposed by law without regard to fault on those participating in certain activities or owning certain things that are considered especially hazardous? - =Answer>> Absolute. EXPLANATION : Absolute or strict liability is liability without fault. It is occasionally imposed by statute on those participating in specified activities that are considered especially hazardous. For example, in some states, ownership of Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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certain dog breeds places strict liability upon the owners in case of any damage or injury to others. In New York, no suit or action against the insurer for the recovery of any claim will be sustainable in any court of law unless all of the requirements of the policy have been complied with, unless commenced within ______ months next after inception of the loss. - =Answer>> 24 There are four people in the Smith family: Mr. Smith, Mrs. Smith, Susan Smith (Mr. and Mrs. Smith's daughter), and Mrs. Hillman (Mrs. Smith's mother). The Smiths own a family car which is covered by a personal auto policy. Mrs. Hillman also has a 1995 Chevy Impala on which she carries no insurance (it is not listed on the Smith's policy). Which of the following injuries would NOT be eligible for medical payments coverage under the Smith's personal auto policy?
- =Answer>> Injuries sustained by Mrs. Hillman when she is driving her own car.. EXPLANATION : Mrs. Hillman's vehicle is not insured and she is driving her own car when she sustains an injury. She is not covered. Other family members in her car would be covered by the other insurance carried by the Smith's. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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