NEW YORK AUTO EXAM 17-66
STUDY GUIDE WITH 100%
CORRECT ANSWERS
Question : 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.
Question : When a homeowners policy has been in effect for
60 days in New York, an insurer can cancel at anytime for
any of the following reasons, EXCEPT:
Correct answer: A large loss has occurred
Question : George Wilson has a personal auto policy. Select
the coverage that would apply when a deer leaps onto Mr.Wilson's car and causes extensive damage.
Correct answer: Comprehensive (other than collision).
Contact with a bird or animal is considered to be an "other than collision" loss.
Question : Which of the following is NOT true concerning the
Terrorism Risk Insurance Program Reauthorization Act of 2015?
Correct answer: The coverage is not mandatory and can be
rejected. Under the 2015 extension, an act of terrorism must be certified by the Secretary of Treasury in concurrence with the Secretary of Homeland Secretary (previously it was the in concurrence with the Secretary of State) and the United State Attorney General.
Question : David has damaged his vehicle by striking a tree.
He can:
- 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.
Correct answer: I, II and III.
The choice belongs to the David, the insured
Question : Under the commercial auto policy providing
physical damage, which of the following offers the broadest coverage?
Correct answer: Comprehensive..
Comprehensive coverage would be the broadest because it covers anything that is not defined as collision. The specified cause of loss is a named peril form and thus, is more limited.
Question : Which of the following is not a commercial auto
endorsement?
Correct answer: Change Other Driver. .
Other available endorsements include: "changes in
commercial auto coverage," "medical payments," "uninsured motorist," "underinsured motorists," and "additional insured- lessor."
Question : 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. .
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.
Question : What is the purpose of the New York automobile
inspection requirement?
Correct answer: To determine prior damage to the vehicle .
The purpose of the New York automobile inspection requirement is to determine if there was prior damage to the vehicle at the time coverage was put into effect.
Question : The law recognizes two types of waivers. They
are:
Correct answer: Express/implied.
They are express and implied. An express waiver occurs when the insurer or its representative knowingly gives up a
