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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:
**1. Read each question carefully.
- Answer all questions.
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State Insurance Claims Adjusters Certification 2024- New York N.Y Independent General Adjuster - Series 17- Exam Review Questions and Answers | 100% Pass Guaranteed | Graded A+ | Read All Instructions Carefully and Answer All the Questions Correctly Good Luck: - Under the "basic economic loss" coverage required in auto insurance in New York, the maximum limit for loss of wages is: - =Answer>> 80% of claimants wages, subject to a maximum of $2,000 per month Universal Foods buys the Chewy Cereal Company. After the purchase is completed, a well known actress sues Universal, claiming that her picture was used without her permission in a Chewy advertisement. The advertisement appeared some time before Universal acquired Chewy. Will Universal's Commercial General Liability policy cover this claim? - =Answer>> No. Personal injury coverage with respect to newly acquired organizations does not apply to offenses committed before the acquisition.. The policy term of a flood insurance policy is: - =Answer>> One year term only. In crime insurance under the loss sustained form, what is the length of the discovery period after the bond has Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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An insured has a $2 million limit of insurance under a personal umbrella liability policy with a $2,000 self-insured retention limit. The insured is sued for $1 million in personal injury damages and $1.5 million in property damages arising from the same occurrence. The insured's underlying liability policies do not cover the damages. In this case, the umbrella policy will pay: - =Answer>> $1,998, of the damages. Since the underlying coverage does not apply the insured must pay the $2,000 self-retained limit and the umbrella insurer must pay the rest of the claim. Which dwelling forms provide broad perils coverage for personal property? - =Answer>> DP2 and DP3. In ocean marine insurance, what is the purpose of the IVEL clause? - =Answer>> To provide excess hull and collision liability coverage. An employee suffered a severe injury while operating a piece of machinery known to be in need of repair. Unfamiliar with the workers compensation law, the spouse sued the employer, claiming loss of consortium. What coverage if any in a standard workers compensation policy would respond to this lawsuit? - =Answer>> Employer's Liability Coverage. What is the limit under the Businessowners Policy for pollution clean up? - =Answer>> A maximum of $10,000. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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How are losses evaluated for payment under the Watercraft and Yacht policies? - =Answer>> Actual cash value at the time of the loss. Henry is the first named insured on a $1 million umbrella liability policy. His wife, Dorothy, is also an insured. Both Henry and Dorothy were sued for $1 million in separate, unrelated suits by separate third parties. Both insureds lost their suits on the same day. In this possible but rare situation, if the umbrella policy is applicable and the self- insured retention is not applicable: - =Answer>> Henry will not receive more protection than Dorothy and the policy could pay a total of the $2 million amount for the two awards, subject to the "aggregate limit".. The requirements of the Employment Retirement Income Security Act compel employers to cover their professional liability exposure for honest errors and omissions regarding employee benefit plans by purchasing: - =Answer>> Fiduciary Liability. How long is payroll coverage limited to in case of a business income loss under the BOP? - =Answer>> 60 days. Is coverage under the Terrorism Risk Insurance Act mandatory? - =Answer>> No. The most comprehensive coverage provided by the Dwelling Property program is found in the: - =Answer>> DP3. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Employee dishonesty coverage does not include: - =Answer>> Robbery of an employee. What does Employee Dishonesty Coverage provide? - =Answer>> Covers losses caused by the dishonest acts of employees. Who can bind an insurance coverage by oral or written agreement? - =Answer>> Property and Casualty Producer. What is Drive Other Car Coverage? - =Answer>> Provides coverage for the owner of a business that does not own an auto. Attempting to settle claims on the basis of an application which was altered without notice to, or knowledge or consent of, the insured is an example of: - =Answer>> An unfair claims practice act. How is property covered under an unendorsed BOP form? - =Answer>> Open Peril. What 2 additional coverages can be found on the DP2 and DP3 that are not found on the DP1? - =Answer>> Collapse and Lawns/Plants/Trees/Shrubs If an insurer requires an application for reinstatement and it takes no action on that application for ____, the policy is: - =Answer>> 45 days/reinstated. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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In a bond that has been in place and renewed for several years with the same carrier, under the "loss sustained under previous insurance condition" which would respond to a claim that was just discovered but which actually happened two years ago? - =Answer>> The current bond. An insurer is required to acknowledge receipt of notice of a claim within: - =Answer>> 15 working days. What kind of violation has a construction company made if they have faulty materials in a flood wall that collapses and results in the destruction of five homes? - =Answer>> Civil Violation. A written modification of an insurance policy is known as: - =Answer>> Endorsement A commercial inland marine condition defining the insurer's subrogation rights: - =Answer>> Guarantees the insurer's ability to recover from a third party who is responsible for a covered loss.. Phil Smith, in helping his friend Tim Jones apply for a New York Casualty Insurance license, attests to Tim's honesty on the application and competence to handle the duties of the license. Phil's statement must: - =Answer>> Submitted with all documentation and applications to the state. Sam applied for, and was issued, a health insurance policy five years ago. At that time, his age was recorded as age 36 when in fact he was age 38. Sam's policy includes a Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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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? - =Answer>> 30 Days. A common carrier is not held liable for the loss of a shipper's goods when the loss results from: - =Answer>> 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? - =Answer>> Only an insurance regulatory official. When is a passenger first covered under an aircraft policy? - =Answer>> 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? - =Answer>> $1,000 if the flood is imminent and the property is in danger of flooding. Which Commercial Forms would cover sinkhole collapse? - =Answer>> Basic, Broad, and Special. ______ is a movement allowed by certain joints of the skeleton that decreases the angle between two adjoining bones. - =Answer>> Flexion The listing of the perils covered is found in which part of a homeowner policy? - =Answer>> Insuring Agreement. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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If a dog owned by a customer is injured in the parking lot of a store, is that considered bodily injury under liability coverage? - =Answer>> 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? - =Answer>> 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? - =Answer>> Mr. Vickers comprehensive coverage. An automobile is polluting the environment. What engine component could be the primary cause? - =Answer>> 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? - =Answer>> 20% Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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covered by the commercial umbrella liability coverage under BI and PD coverage? - =Answer>> Yes. A homeowner with personal property insured for $60, 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? - =Answer>> Principle of Indemnity. What is the appropriate manner in which to sign a "release of all claims?" - =Answer>> 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: - =Answer>> Morale Hazard. The deductible on the Equipment Breakdown form can be stated in what 3 ways? - =Answer>> 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? - =Answer>> Technician B only. A tenant leases space in a building. The tenant's space is damaged by fire. When will the commercial Property Policy Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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pay for the damage? - =Answer>> 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? - =Answer>> Nothing. Homeowners form provide a limit of $5,000. Does a flat deductible apply to basic scheduled dental plans? - =Answer>> No. With crop insurance policies, the coverage period is usually:
- =Answer>> Limited to the growing period for the particular crop being insured. What does an employer's non-ownership coverage under the BAP cover? - =Answer>> 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: - =Answer>> 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: - =Answer>> Facility of Payment. What is Demurrage? - =Answer>> Compensation for the delaying of a vessel carrying freight. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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How many years must a business be operational in New York before it can qualify as a self-insurer for workers compensation? - =Answer>> 3 Years. What coverage does the Difference in Conditions form provide? - =Answer>> Gaps left by other property insurance forms. What would most likely be the effect of an insured's breach of warranty? - =Answer>> The insurer might void the entire policy. Can coverage on a Commercial Property Insurance plan be written on a replacement cost basis for building, personal property of the insured and property of others? - =Answer>> Yes. The disability income rider which protects against the erosion of purchasing power for fixed disability benefits is known as the: - =Answer>> Cost of Living Adjustment rider (COLA) Which type of Crop Insurance Policy covers the entire farm instead of an individual crop? - =Answer>> Adjusted Gross Revenue (AGR) Under the CGL Policy, tangible property other than "your property" or "your work" that cannot be used or is less useful due to your faulty work or your work not completed on time is called: - =Answer>> Impaired Property. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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What type of coverage would a heating and cooling contractor need when work has been done on a newly renovated building but not yet accepted by the owner? - =Answer>> Installation Floater. In a standard workers compensation policy, when would employer's liability coverage apply? - =Answer>> For employee-injury claims that are outside the scope of the workers compensation law. Which of the following is not an "additional coverage" under homeowners liability Section II coverage? - =Answer>> Payments made by the insurer to settle a claim. Symbol 2 is entered for one of the physical damage coverages in the declarations of the BAP. The insured buys an additional auto after the policy begins. The newly acquired auto will become a covered auto: - =Answer>> Automatically. What is a requirement that a professional association must meet to obtain group insurance? - =Answer>> It must have been in existence for at least two years. Third-party provisions allow for an entity that lends money to an insured to purchase property, to be named on the insurance for that property. In property insurance, this is known as a "standard mortgage clause." In auto insurance, it is known as: - =Answer>> Loss payable clause. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Are costs to recall products that may be defective considered "your product" under the CGL policy? - =Answer>> No. Would the Business Owner's Policy (BOP) cover injury or damage caused by the operation of mobile equipment? - =Answer>> Yes. A company has been hired to determine the extent of pollution damage and recommend methods of its removal. However, it fails to identify some of the pollutants. What coverage might this company need to cover their liability exposures? - =Answer>> Environmental Errors and Omissions Coverage. Convenience stores selling gasoline must have a minimum of ______ square feet in total floor area in order to qualify for the BOP? - =Answer>> 3,000. Under homeowner policies personal property used for business purposes is covered for what limits on and off the premises? - =Answer>> $2,500 on premises and $1,500 off premises. The insured carries an Equipment Breakdown policy with a limit of $300,000. A boiler has exploded and caused extensive damage to the building and its contents. As a result of the explosion a fire ensues causing $100,000 in damages. How much will the Equipment Breakdown policy pay for the fire damage? - =Answer>> $0. The Equipment Breakdown policy excludes fire damage. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
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Under Coverage E - Scheduled Farm Property, how is the property covered? - =Answer>> For the limit shown in the policy declarations. If a person is found guilty of violating USC Section 1033 regarding Federal Fraud and False Statements, what can the Attorney General do? - =Answer>> Assess a civil penalty in the amount the person received or offered for the prohibited conduct or $5,000 whichever is greater. Under a commercial Building and Personal Property Coverage form with no optional coverages selected, loss valuation/settlement is based on: - =Answer>> Actual Cash Value. Who signs the declaration page on the Equipment Breakdown policy? - =Answer>> An Authorized Representative. A contract between a public adjuster and an insured must be: - =Answer>> In Written Form. A sudden and unexpected event is known as: - =Answer>> An Accident. Mr. Wilson purchases property insurance on a building and fails to advise the agent that he only owns 50% of the building. This is an example of: - =Answer>> Misrepresentation. Need Writing 🤔Help? We've Got You Covered! ✍️ 100% NO A I or Plagiarism Guaranteed🤔
