NY General Adjuster test (+100 Questions and Answers |100% Pass
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NY General Adjuster test (+100 Questions and Answers |100% Pass
All of the following are eligible for group long term care insurance, EXCEPT:
o A group formed as a cooperative to buy insurance at a discount.
o One or more employer or labor organizations for the benefit of the employees.
o Any professional, trade or occupational association for the benefit of their bona fide members or retirees.
o A trust established or maintained for the benefit of members of a qualifying association.
{{Correct Ans- A group formed as a cooperative to buy insurance at a discount
In case of a loss, how many days’ notice does the insured have after notification of a claim to submit the claim to the underwriters of the ocean marine coverage?
60 Days
90 Days
120 Days
180 Days {{Correct Ans- 180 days is correct.
What are the unique features of the Business owners’ policy form?
o It provides owned auto and ocean marine coverage
o The premium is adjustable and is based on number of employees
o The property coverage is open peril with no coinsurance requirement
o It has fewer exclusions
{{Correct Ans- The property coverage is open peril with no coinsurance requirement
A named peril aviation policy would cover all of the following, EXCEPT:
o Flood
o Theft
o Stationary land damage
o Windstorm
{{Correct Ans- Flood
After completing an inspection of an insured's pressure equipment and fire suppression systems, the inspector determines that the pressure equipment needs to be repaired and the suppression systems have not been cleaned and inspected in the time frame required by the policy. The insurer will:
o Give notice to the insured to make the repairs within 24 hours
o Require the insured to send copies of the cleaning and repairs to the underwriter
o Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass re-inspection
o Reduce coverage in case of loss by 25%
{{Correct Ans- Suspend coverage immediately by red tagging the items until they are repaired, cleaned and pass re-inspection
What is the maximum period of time that coverage applies under civil authority business income coverage under the BOP? {{Correct Ans- 4 weeks is correct.
Which of the following statements is true with respect to symbol 1 used in the BAP declarations?
o It is used only for liability coverage.
o It identifies owned and hired autos only.
o When it is used to identify covered auto, 30 days' notice to the insurer is required to arrange coverage on newly acquired autos.
o When it is used, the covered autos must be specifically described.
{{Correct Ans- It is used only for liability coverage.
How are household personal property claims settled under the farm policy?
o Replacement cost
o Market value
o Replacement cost if insured 80% to value
o Actual cash value
{{Correct Ans- Actual cash value
Claims under farm policies for household personal property will be settled on an actual cash value basis similar to the homeowner policy. An endorsement for replacement cost settlement is available for additional premium.
A commercial umbrella liability policy would usually cover which of the following situations?
o The insured claimed in a TV ad that the company's product will allow dieters to lose five pounds per week for four weeks without changing their eating habits. Several dissatisfied customers sued the insured when the product did not cause weight loss.
o The insured was sued for knowingly allowing its advertising agency to make untrue statements about a competitor in an advertisement for the insured's product.
o The insured owns and rents out a number of subsidized housing units. Feeling justified that he has the right to know what goes on in the rented units, he regularly uses a passkey to let himself in and look around the units. One day he did this while a tenant was sleeping. The tenant woke up, saw the insured and ordered him to leave. The insured refused. Later, the tenant sued the insured for wrongful entry.
[Solved] NY General Adjuster test (+100 Questions and Answers |100% Pass
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- Submitted On 09 Mar, 2023 01:22:06
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