Download NYS 17-66 Independent General Adjuster Exam 2025 | Complete Questions and Correct Answers and more Exams Insurance Economics in PDF only on Docsity!
NYS 17-66 Independent General Adjuster Exam 2025 |
Complete Questions and Correct Answers | Already
Graded A+ | Verified Answers | Latest Version | Brand
New Version!
Under Ben greens personal auto policy, which of the following would qualify as a family member except ---------CORRECT ANSWER-----------------Susan green, Ben's wife, maintaining a separate residence Garage keepers liability coverage excludes all of the following losses except --------
- CORRECT ANSWER-----------------Lost to a high-value audio system permanently installed in a covered Auto Alan begins the process of identifying coverage under the policy and finds that the water damage is not covered. Which of the following statements is true regarding this claim? ---------CORRECT ANSWER-----------------because Allen told Catherine to remove the carpeting and panel night before he checked the coverage, he waved the right of binders keepers to deny the claim The New York cybersecurity regulation requires the ciso to make a report regarding the program, in writing, to the covered entities board of directors or its equivalent ---------CORRECT ANSWER-----------------Annually
Claims filed with the insurance company by the insured are known as --------- CORRECT ANSWER-----------------First-party claims An insurance company formed under the laws of Canada would be referred to as - by any state insurance department in the United States. ---------CORRECT ANSWER-----------------An alien insurer and insured has her business automobiles covered under a business auto policy with symbol 7 specified on her declarations page. She has purchased a trailer with a load capacity of 2500 lb and hitched it to a covered van. While she was driving the van, the trailer breaks free and crashes into another vehicle, causing bodily injury. Which of the following statements is true regarding the insured situation? - --------CORRECT ANSWER-----------------liability is coverage is not extended under symbol 7 for a trailer with a load capacity of more than 2,000 pounds, therefore coverage will not apply Which of the following losses would be covered under a standard personal auto policy? ---------CORRECT ANSWER-----------------Jorge's Auto that suffered damages while being transported from a port in Miami Florida to San Juan Puerto Rico. To receive coverage under the personal auto policy while the auto is being transported, ---------CORRECT ANSWER-----------------The damage must have occurred while the auto is being transported within the coverage territory of the policy.
The insurer has subrogation rights under all coverages except ---------CORRECT ANSWER-----------------Physical damage coverage against a person using a covered Auto with a reasonable belief of being entitled to do so How many days notice is required for non-renewal? ---------CORRECT ANSWER----- ------------At least 20 days notice The medical payments and physical damage coverage has are paid without --------- CORRECT ANSWER-----------------Regard to fault Part F of the standard personal automobile policy states that the policy can be terminated within the first 60 days for any reason other than non-payment of premium if ---------CORRECT ANSWER-----------------At least 20 days notice is provided to the insured Part D of the personal auto policy essentially provides ---------CORRECT ANSWER--- --------------Open peril coverage for damage to the name insurance Auto Physical damage coverage pays for direct and ---------CORRECT ANSWER-------------- ---Accidental loss to the named insured covered Auto
How many commercial autom BHobile coverage forms are there? ---------CORRECT ANSWER----------------- 5 New York regulation 79 ---------CORRECT ANSWER-----------------Requires that all automobiles be inspected before a new insurance policy may be issued What is the New York State article 51 code? ---------CORRECT ANSWER----------------
- Comprehensive motor vehicle insurance reparations act Is an automobile no-fault law ---------CORRECT ANSWER----------------- Comprehensive motor vehicle insurance reparations act Comprehension motor vehicle insurance reparations act ---------CORRECT ANSWER-----------------this law was established to ensure that persons injured in an automobile accident would receive prompt insufficient medical treatment along with compensation for lost income without having to pursue the loan process of litigation. $50,000 for basic economic loss ---------CORRECT ANSWER-----------------New York provides for the payment of the first parties benefits for up to
Excess ---------CORRECT ANSWER-----------------No fault benefits are primary to any health insurance held by the insured, which will be paid as What must be submitted if there is a dispute between the insurance companies who must pay for first-party benefits? ---------CORRECT ANSWER-----------------Both must submit to mandatory arbitration procedures Insurers are required to send the interpretation and application for benefits within how many days of receiving the notice of a claim? ---------CORRECT ANSWER-----------------5 days Margie will most likely file a claim with the New York motor vehicle accident indemnification corporation ---------CORRECT ANSWER-----------------If Margie does not have automobile insurance and is struck in a hit-and-run accident, which of the following methods will Margie most likely used to recover her losses? The traditional and most simplistic (basic) definition of actual cash value is --------- CORRECT ANSWER-----------------Replacement cost minus depreciation Some courts have ruled that the definition of actual cash value is actually the ------ ---CORRECT ANSWER-----------------Fair Market Value
The price someone would actually pay For the property today ---------CORRECT ANSWER-----------------Fair Market Value Is used in insurance to indicate a reduction of the Claims payment due to its reduced market value because the property has become obsolete ---------CORRECT ANSWER-----------------obsolescence Some courts have ruled in favor of calculating ACV according to the --------- CORRECT ANSWER-----------------Broad Evidence Rule The current cost to purchase new, the item that Was lost or damaged, with no deduction for depreciation ---------CORRECT ANSWER-----------------Replacement cost Is used when the ACV of property is difficult to determine ---------CORRECT ANSWER-----------------Agreed Value
Part A Liability covers ---------CORRECT ANSWER------------------only damages caused by those who are considered insured under the policy
- only damages that the insured is legally liable to pay.
- Only damages for bodily injury and property damage that results from an automobile accident. Who are covered as insurance under part A of the policy? ---------CORRECT ANSWER-----------------The named insured and members of the insurance family while using any auto. Anyone using the insureds car with permission. other people or organizations to the extent that they share liability with the insured. Other people or organizations for their liability incurred involving any auto or trailer used by the insured's or a family member. What is included in the supplementary payments of part a? ---------CORRECT ANSWER-----------------Up to $250 for bail bonds required because of an accident. Premiums on appeal bonds and bonds to release attachments in any suit defended. Up to $200 a day for loss of earnings because of attendance at trials or hearings.
Other reasonable expenses incurred at the company's request, when the insured is assisting in the investigation or defense of a claim. Part A exclusions ---------CORRECT ANSWER-----------------No coverage for intentional body injury or property damage losses. No coverage for damage to property owned or being transported by an insured. No coverage for property damaged rented to, used by, or in the care of the insured. No coverage for bodily injury to an employee, except in domestic employee who does not qualify for workers compensation. No coverage while the vehicle is being used to carry persons or property for a fee. Such as a taxi Under part A limits of liability, how much can a person receive for bodily injury? -- -------CORRECT ANSWER-----------------$25, Under part A limits of liability, how much can be received per accident for bodily injury? ---------CORRECT ANSWER-----------------$50,
Where are the no-fault coverages included? ---------CORRECT ANSWER----------------
- And the standard personal Auto policies The individual State determines ---------CORRECT ANSWER-----------------the length of time the carrier is required to cover the insured. How many times the insured must be denied coverage in a standard market before becoming eligible for the state-sponsored plan. The premiums that can be charged and the reasons for coverage denial. The part a liability section of the personal auto policy will cover all the following except ---------CORRECT ANSWER-----------------Only the damages for the insurance automobile in the accident. Part A of PAP ---------CORRECT ANSWER-----------------Promises to settle or defend any claim or lawsuit requesting damages Part A of the pap covers post-judgment interest ---------CORRECT ANSWER----------- ------Which is interest on the judgment amount that accrues after the judgment is entered until it is paid
The insurance company's duty to defend under part A of the pap ---------CORRECT ANSWER-----------------Ends when the policies limit of liability is exhausted Anyone using the insuredd covered Auto is considered to be an insured --------- CORRECT ANSWER-----------------If they have permission or reasonable leaf that they have permission to drive the car The state legislature is responsible for ---------CORRECT ANSWER----------------- Changing the financial responsibility limits for part a in the state If part A of a personal auto policy shows a limit for bodily injury per person, another limit per accident, and a limit for property damage, ---------CORRECT ANSWER-----------------The policy is written on a split limit basis State laws impose, ---------CORRECT ANSWER-----------------Financial responsibility limits for part A of the personal Auto policy If part A of a personal auto policy shows only one limit, ---------CORRECT ANSWER- ----------------The policy is written on a combined single limit basis.
The auto liability limits of $100 - $300 - $50 - are an example of ---------CORRECT ANSWER-----------------Split limits mr. Thompson carries minimum Auto limits in his State. He drives his car to New York which requires bodily injury limits of $25 - $50, and a wrongful-death limit of $50 - $100, and no fault coverage. If he has an accident in New York, what coverage would he have? ---------CORRECT ANSWER-----------------The coverage will automatically be modified to comply with the New York requirements Under part-a of the personal auto policy, is damage to the property of others in the vehicle covered? ---------CORRECT ANSWER-----------------No Is damage to insurance property in the vehicle covered under Part d of the personal Auto policy? ---------CORRECT ANSWER-----------------No What does Part B cover? ---------CORRECT ANSWER-----------------Medical payments What provides protection for the named insured, family members, in passengers and the named Auto for injuries received in an accident regardless of who was at fault? ---------CORRECT ANSWER-----------------Part b medical payments coverage
This coverage also applies to other people who are injured while occupying the named insurance Auto that is covered in the policy. ---------CORRECT ANSWER------ -----------Part b - medical payments coverage Within how many years of an accident does Part b cover reasonable expenses incurred for necessary medical treatment and or funeral services? --------- CORRECT ANSWER-----------------Within three years of the accident The vehicle driven by a hit-and-run driver that strikes the insured or a family member is considered ____ ---------CORRECT ANSWER-----------------An uninsured vehicle under the part c uninsured motorist coverage Physical damage coverage pays for direct and accidental loss to the --------- CORRECT ANSWER-----------------Named insured's covered Auto Physical damage coverage also covers any non-owned auto including their equipment caused by ---------CORRECT ANSWER-----------------Collision or other than collision losses
How much does Part D provide for transportation expenses incurred by the insured because of physical damage to the insurance auto? ---------CORRECT ANSWER-----------------Part D provides $20 per day up to a maximum of $600 for transportation expenses What part of the policy is in parts e and F of personal automobile insurance? ------- --CORRECT ANSWER-----------------The conditions of the policy What does part of the policy contain? ---------CORRECT ANSWER----------------- Duties of the insured after an accident or loss What does Part F contain? ---------CORRECT ANSWER-----------------It is stablish has the conditions for the coverage and describes the duties and obligations of the insured and insurer The insured selects the amount of additional coverage to add to the existing PIP coverage ---------CORRECT ANSWER-----------------which of the following statements is correct regarding the New York additional personal injury protection endorsement to an automobile policy? 90 days ---------CORRECT ANSWER-----------------if a person is qualified to receive benefits from the New York motor vehicle accident indemnification corporation
and are injured by a hit-and-run driver, how many days do they have to file a claim? Drive other car endorsement ---------CORRECT ANSWER-----------------which of the following commercial automobile endorsements extends existing coverage to the individual scheduled and their spouse while using any non-owned Auto for both business and personal use? The lessor, additional insured and loss payee endorsement ---------CORRECT ANSWER-----------------Consider has the least Auto described on the endorsement as in owned Auto The miscellaneous type vehicle endorsement is used to provide coverage --------- CORRECT ANSWER-----------------On the types of vehicles that are usually excluded under the personal auto policy The out-of-state coverage endorsement provides coverage for a New York insured ---------CORRECT ANSWER-----------------If they have an accident in another state with higher limits of financial responsibility Insurance may consider adding the exclusion of medical expense ---------CORRECT ANSWER-----------------From the personal injury protection endorsement to lower their premium
