New York Adjuster Exam Latest Update -

New York Adjuster Exam Latest Update - Questions and 100% Verified Correct Answers Guaranteed A+ At First Attempt Verified By Professor

A non-waiver agreement would allow the insurance company to do which of the following? - CORRECT ANSWER: Investigate the loss without verifying that the loss is covered is correct.

A person who violates a cease and desist order issued by the Superintendent of Insurance is subject to a penalty of up to _____ for each violation. - CORRECT

ANSWER: $5,000

A professional liability policy can be: - CORRECT ANSWER: Purchased separately for an additional premium

A ship has negligently collided with another ship and caused severe damage. What

coverage would apply to cover this claim? - CORRECT ANSWER: Hull insurance with

the "running down clause

All of the following statements are false regarding an insured's right to cancel an automobile policy, EXCEPT: - CORRECT ANSWER: The named insured may cancel an auto policy at any time. is correct.

All of the following statements regarding the Motor Carrier Act of 1980 are correct,

except:

The Motor Carrier Act applies to liability only. The MCS-90 form is used to indicate that the vehicle in question has coverage including pollution liability for specifies limits being defined by what is being hauled.

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It requires truckers to certify that they are able to meet financial obligations arising from liabilities of their trucking operations.Commercial Inland Marine Motor Truck Cargo insurance is used to cover the liability for hauled cargo.The MCS-90 endorsement must be attached to a truckers policy to show that insurance is being used as proof of financial responsibility.It requires truckers to certify that they are able to meet financial obligations arising from

physical damages of their trucking operations. - CORRECT ANSWER: It requires

truckers to certify that they are able to meet financial obligations arising from physical damages of their trucking operations. .

An insured has an occurrence-type CGL policy with a $100,000 aggregate limit and a $25,000 per occurrence limit. The insured had one occurrence settled for $35,000 and a second occurrence, which took place during the same policy period, was settled for $20,000. If a third occurrence took place in this same term, what is the maximum

amount the insurer would be obligated to pay as damages? - CORRECT ANSWER:

Explanation:

The policy can only pay up to its per occurrence limit on any one occurrence. The insurer will pay $25,000 for the first occurrence, and will pay all of the $20,000 settlement for the second occurrence. The aggregate limit has thus been reduced by a total of $45,000, leaving just $55,000 for any other occurrences during that policy period.

If an employer does not qualify to obtain Workers Compensation by self insuring or purchasing coverage from a private insurer, where may coverage be purchased? -

CORRECT ANSWER: The State Insurance Fund (SIF)

If an insured wishes to cover the mobile home while it is being transported from one location to another would: - CORRECT ANSWER: Purchase the Mobile Home Transportation Coverage Endorsement on the homeowner policy

If Smith Construction Company does not properly protect a job site, the public could be injured. This is an example of: - CORRECT ANSWER: Negligence

In crime insurance, which of the following individuals is NOT considered to be a

custodian? - CORRECT ANSWER: Janitor

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