New York auto exam 17-66 study Latest Update

New York auto exam 17-66 study Latest Update - with Questions and Verified Correct Answers Golden Ticket to Guaranteed A+ Verified by Professor

A New York adjuster commits an act of insurance fraud addressed by the Federal Insurance Fraud Act. The fraud does not affect the financial stability of the company.What is the maximum time the adjuster may be confined to prison? - CORRECT

ANSWER: 10 years is correct.

EXPLANATION:

This type of offense carries up to a 10 year sentence. The sentence is increased to 15 years if it affects the financial stability of the insurer.

A New York licensee subject to an administrative action in another jurisdiction or

governmental agency must report such action to the Superintendent within: -

CORRECT ANSWER: The Superintendent must be notified within 30 days of the final

disposition of the matter.

All of the following are reasons that an adjuster should keep very detailed log notes, EXCEPT: - CORRECT ANSWER: To produce notes that will support a fraudulent denial of claims. .

The adjuster's log notes are used to determine negligent parties, to assist in detecting fraud, to become a part of the claims file, and to be used in future proceedings. The log notes are not intended to produce a fraudulent record to deny a claim.

An insurance professional that is accused of dishonesty or breach of trust involving interstate commerce under Title 18 Section 1033 of the United State Code, will be prosecuted by: - CORRECT ANSWER: The U.S. Attorney general..

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EXPLANATION:

This breach of trust or dishonesty involving interstate commerce is a violation of USC 1033 and therefore prosecuted by the United States Attorney General's office.

Coach Joe loans his car, covered under a personal auto policy, to assistant coach Tom to take several members of the Lake Recreation Swim Team home after a meet. In the event of an accident, the liability section of the personal auto policy would cover all of the following, EXCEPT: - CORRECT ANSWER: The auto manufacturer. .

EXPLANATION:

Coach Joe is covered because he owns the car. Assistant coach Tom is covered because he had Joe's permission to drive his car. Lake Recreation Swim Team is also an insured but only with respect to legal responsibilities for acts or omissions of a person for whom coverage is afforded.

David has damaged his vehicle by striking a tree. He can: - CORRECT ANSWER: I.Take the car to a repair garage recommended by the insurer.II. Take the car to a garage of his choice.III. Accept payment based on the adjuster's estimate.

The correct answer is: I, II and III.

The choice belongs to the David, the insured

Driver 1 and Driver 2 are in an accident. Driver 2 has the following damages:

Property Damage - $1,000 Rental Car Expense - $500 Emergency Room Expense - $400 Lost Wages - $300

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