NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 Questions And Answers |100% Pass

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NEW YORK INDEPENDENT FIRE ADJUSTER EXAM SIMULATOR - SERIES 17-64 Questions And Answers |100% Pass Mason has suffered a $42,000 loss to his commercial building due to fire. The building is covered und... er the Building & Personal Property coverage form and had been vacant for 74 days. The insurer would have paid the entire loss if the building had been occupied, but what will they pay because the insured building was considered vacant? o $28,980. o $42,000. o $6,300. o $35,700. {{Correct Ans- For a loss that would otherwise be covered for the full amount, a reduction of 15% is taken off the claims payment because the building was considered vacant. 15% of $42,000 is $6,300. If $6,300 is subtracted from $42,000, the insured would receive $35,700. The Superintendent of Insurance may issue a _____ temporary permit to an individual to adjust claims while an adjuster's application is pending. o 6-month o 30-day o 1-year o 120-day {{Correct Ans- 120 day Under the Federal Insurance Fraud and False Statements Act, if someone is prohibited from doing business in a state, approval to resume transacting business must be granted by: o Submitting a 1033 waiver form and having it approved by an insurance regulatory official in his or her state. o The State Attorney General. o The United States Secretary of State. o The United States Secretary of Treasury. {{Correct Ans- Submitting a 1033 waiver form and having it approved by an insurance regulatory official in his or her state. The Dwelling endorsement for Broad Theft Coverage excludes losses to dwellings that have been vacant for more than _____ days immediately prior to the loss. o 45 days. o 60 days. o 30 days. o 90 days. {{Correct Ans- 60 days The endorsement to the homeowner policy for water that backs up through a sewer or drain including mechanical breakdown of a sump pump contains which of the following? o A separate stated limit of coverage o A separate stated deductible for covered losses o Both answers are correct o Neither answer is correct {{Correct Ans- Both answers are correct Every New York insurer must distribute copies of the cybersecurity regulation to all of the following, EXCEPT: o Anyone supervising claims handling. o Anyone directly responsible for the handling of claims. o Anyone directly responsible for the settlement of claims. o Anyone who may offer for sale, an insurance policy. {{Correct Ans- Anyone who may offer for sale, an insurance policy. [Show More]

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