NY License Pre Test 2

Under the Federal Terrorism Risk Insurance Act of 2002 (extended in 2007 to now expire 12/31/14), who determines that an act of terrorism has occurred that would be covered under the Act?

A communication sent to an insured stating that the insurer will NOT give up a right is called:

Under the livestock coverage form, how must livestock be covered?

Policies issued under the National Flood Insurance Program provide removal coverage for property which is moved to another location to protect it from a flood. This coverage applies for up to:

Under a dwelling policy (DP-2 or DP-3), what is the maximum that would be paid for additional living expenses if coverage A was $60,000?

What is the limit of insurance that applies to property in transit in the BOP?

"What is the difference between a Businessowners Policy and a Commercial Property Policy?

I. The Businessowners Policy automatically provides earthquake coverage whereas a Commercial Property Policy does not.
II. The Businessowners Policy includes liability coverage, while a Commercial Property Policy would not."

Under the HO Policy Form HO-4, which of the following are covered?

Under homeowner policies personal property used for business purposes:

What endorsement should an insured add to his or her homeowner policy to cover the replacement cost of personal property?

Under the DP-1, dwelling form, which of the following is true?

Which of the following is an obligation of the insured involving a covered property insurance loss?

The insured's dwelling has been vacant for 62 days. Vandals enter the home and do considerable damage. To cover up their act and to avoid detection, they set fire to the dwelling. The insurer will:

Who is an insured under the liability section of a farm policy?

The DP-2 broadens which of the following extended coverage (EC) perils?

Under an HO-4 which of the following are covered in Section I?

Which of the following amounts would be paid on a covered auto suffering a total loss? The retail value is $1,250.00 and the average trade in value is $1,000.00. 

The clause in an ocean marine policy that refers to "particular average" means:

Crop insurance usually protects a proportion of the reduced yield following an insured loss.  "Reduced yield" refers to:

What endorsement may be used under the dwelling policy to keep values current with the replacement cost of the buildings?

Under an Equipment Breakdown policy, all of the following are supplementary payments, except:

Which of the following is covered property under the HO-3 form? I. Belongings of the insured's daughter while she is away at college II. The insured's garage III. The insured's dog IV. Personal property of a tenant

Which of the following would be eligible for a BOP?

Which of the following would be covered under a multi-peril crop policy?

Public adjusters in New York must maintain books, files and records for at least  ____ years from the completion of the services rendered.

The first effort to provide insurance for land transportation risks involved an extension of ocean marine coverage known as the:

"Protection and indemnity coverage contained in an ocean marine policy covers:

I. Liability against injuries to seamen.
II. Injury to stevedores, longshoreman and harbor workers.
III. Cargo, if lost or damaged through negligence."

A building insured under a Commercial Property policy suffers a fire and it is obvious that the building is underinsured. The policyholder demands payment for the entire loss on a replacement cost basis. The insurance company can:

Under the BOP, up to how many years can the insurer request to examine the books and records of an insured?

The insured has a barn on his premises. The dwelling is insured for $200,000 under a DP-2 dwelling policy.  How much coverage applies to the barn?

The Superintendent of Insurance may approve the employment, appointment or participation of any person whose license has been revoked. Karen Jones had her license revoked and filed an application for relicensing and has waited over 120 days without a response from the Insurance Department. What should or can she do? 

Which of the following is not an endorsement under a homeowner policy?

Under the DP-2 and DP-3 dwelling forms, coverage for damage caused by vandals will be suspended, if at the time of loss the dwelling has been vacant for more than:

The insured is covered under a Businessowners Policy. He operates a pharmacy. The building is destroyed by fire. After he re-opens, his business still has not returned to the pre-fire level. The BOP provides for “extended business” income coverage for:

Which of the following is correct regarding HO-3 and an HO-5 coverages?

The ___ clause covers collision damage to another vessel.

A crew member has been injured on a ship. When his medical expenses are paid, this is known as:

Under the basic dwelling form DP-1, which of the following water damages would be covered?

What is the percentage of coverage for the "loss of use" under HO-3, homeowner form?

What is the limit under the Businessowners Policy for pollution clean up?

The custom farming endorsement is usually attached to a farmowners policy when receipts are at least:

A common element that links inland marine and ocean marine risks is:

What deductible applies to Additional Coverage–Fire Department Service Charge?

Phil Smith, in helping his friend Tim Jones apply for a New York Casualty Insurance license, attests to Tim’s honesty on the application and competence to handle the duties of the license. Phil’s statement must: 

The insured is insured under a DP-3 dwelling form and is remodeling the dwelling. He does not have a place to store the materials. His next door neighbor permits the insured to store the materials in his garage. The garage is destroyed by fire and the materials are also destroyed. Which of the following applies?

Which of the following cannot be covered under a BOP?

The Superintendent of Insurance believes a person has committed a violation or is engaging in a practice that could become a violation. The Superintendent believes a hearing is necessary. The hearing must be held within _____ days after the date the notice has been served.

What does the property insurance term "improvements and betterment" apply to?

Plumbing under the kitchen sink of an insured's condominium comes loose and leaks water all over the floor. The repair person has to tear out the floor under the sink to repair the hose. The cabinet is also damaged. What would the insured's HO-6 cover?

While traveling in a rented car in Spain Mr. Brown has his personal property stolen. What kind of coverage should he have to cover this loss?