NY-Independent-General-Adjuster Certification – Valid Exam Dumps Questions Study Guide! (Updated 107 Questions) [Q14-Q31]

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NY-Independent-General-Adjuster Certification – Valid Exam Dumps Questions Study Guide! (Updated 107 Questions)

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Insurance Licensing NY-Independent-General-Adjuster Exam Syllabus Topics:

Section	Weight	Objectives
Claims Adjustment Procedures		– Competitive estimates – Releases – Draft authority – Appraisal – Advance payments – Mediation – Settlement procedures – Negotiation – Coverage problems – Non-waiver agreements – Reservation of rights letters – Arbitration – Alternative dispute resolution – Execution of releases – Claims adjustment procedures – Subrogation procedures
Insurance Principles and Concepts		– Hazards – Concealment – Moral hazards – Insurance contracts – Insurable interest – Warranties – Representations and misrepresentations – Morale hazards – Physical hazards – Fraud – Waiver and estoppel – Insurance principles and concepts
Commercial Package Policy	38%	– Monoline versus package policies – First named insured – Common policy conditions – Common policy declarations – Components of a commercial policy
Insurance Regulation		– Licensing process – Qualifications – Licensing requirements – Temporary adjuster permits – License maintenance and duration – License renewal – Bond requirements – Fingerprinting
Other Property and Liability Coverages		– Inland marine – Commercial automobile – Surety and fidelity bonds – Excess liability – Personal automobile – Flood insurance – Crime insurance – Ocean marine – Aviation insurance – Workers compensation
New York Unfair Claim Settlement and Prohibited Practices		– Unfair claim settlement practices – Terrorism Risk Insurance Act – Insurance fraud and false statements – Consumer privacy requirements – New York claim settlement laws and regulations – New York cybersecurity regulation
Commercial Property		– Commercial Package Policy – Commercial General Liability – Commercial property coverage – Businessowners Policy – Commercial property forms and endorsements
Dwelling and Homeowners Insurance		– Standard Fire Policy – New York specific endorsements – Homeowners property coverage – Personal umbrella policies – Homeowners liability coverage – Personal liability supplement – Dwelling policies

NO.14 All of the following would be covered by Other than Collision (Comprehensive) coverage EXCEPT

interior damage from an electrical fire.

auto body damage caused by a roll-over.

interior and exterior flood damage.

auto body damage from a hailstorm.

NO.15 The final step of the claims process usually involves which of the following?

The claims representative and the insured discuss details of the loss valuation to agree on the amount the insurer will pay to settle the loss.

The claims representative prepares a historical loss run for the insured at the time of final payment.

The claims representative submits the final claim payment report to the state insurance department.

The claims representative adjusts the initial reserves.

NO.16 Which of the following benefits are NOT paid under workers’ compensation laws?

Vocational rehabilitation.

Independent medical.

Pain and suffering.

Disability income.

NO.17 Which of the following is a type of adjuster report?

Loss Report.

Interim Report.

Appraisal Report.

Subjective Report.

NO.18 Applicants for a New York public adjuster’s license MUST file a bond on the condition that the applicant will faithfully perform the adjuster’s duties under the license. The penal sum of the bond REQUIRED is

$250.

$500.

$1,000.

$10,000.

NO.19 Broad theft coverage may ONLY be endorsed on a Dwelling Policy if the

insured is the landlord.

building is vacant.

insured is the owner-occupant.

insured personal property belongs to the landlord.

NO.20 The insured under a property policy has placed $100,000 of stock in storage. The stock is damaged by a covered cause of loss. What policy provision assures that the storage facility will NOT collect any claim payment?

Liberalization.

Mortgage clause.

No benefit to bailee.

Assignment.

NO.21 Under Other States Workers’ Compensation Insurance, coverage ONLY applies if the states are listed on the

application.

insuring agreement.

territory provision page.

declarations page.

NO.22 Damage caused to a farmer’s crops during an emergency aircraft landing would be covered by

deductible.

farm liability.

products liability.

property damage liability.

NO.23 If a businessowner has a loss, which of the following will the insurer REQUIRE from the insured to assist in the business interruption portion of the claim?

Production of books and records, including taxes and all schedules.

Submission to an insurer’s onsite inspection request.

Production of list of furniture and fixtures.

Examination under oath.

NO.24 If insurance is used to establish proof of financial responsibility to comply with the Motor Carrier Act of 1980, what endorsement can be used?

Additional insured-lessor endorsement.

MCS-90 endorsement.

Individual named insured endorsement.

Mobile equipment endorsement.

NO.25 Which of the following is covered by the Causes of Loss – Special Form under commercial property?

Smog.

Flood.

Mudslide.

Windstorm.

NO.26 A policy that limits coverage to specific causes of loss is called

exclusions.

replacement.

all risk.

named perils.

NO.27 What is the purpose of a businessowner policy?

To allow insureds to cover their personal and commercial liability only.

To write policies that are unable to be written in the admitted market.

To allow insureds to provide coverage for their small business.

To add workers’ compensation benefits.

NO.28 An insured that is covered on a business automobile policy would like to get physical damage coverage for a forklift used at their facility. Which endorsement can be used to insure this covered automobile?

Miscellaneous vehicle endorsement.

Mobile equipment endorsement.

Truckers coverage form.

Drive other car endorsement.

NO.29 Under a Businessowners Policy, Inside the Premises – Robbery or Safe Burglary of Money and Securities, this coverage applies to robbery of

an employee that takes place off the premises.

a custodian that takes place off the premises.

a custodian that takes place within the premises.

a client that takes place within the premises.

NO.30 In a subrogation process, the role of the adjuster is to

not show just cause against the third party who caused the loss to the extent that their liability is clear.

determine general damages for the third party.

determine the amount of sums to be collected by the insurer from the third party.

determine the amount of premium to be collected by the insurer from the third party.

NO.31 Which part of the garage coverage form provides liability coverage for automobiles in the care, custody, and control of the insured?

Specified Coverage.

Liability Coverage.

Garagekeepers Coverage.

Physical Damage Coverage.

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Insurance Licensing NY-Independent-General-Adjuster Exam Syllabus Topics:

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