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NY ADJUSTER PRACTICE EXAM QUESTIONS AND ANSWERS.
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NY ADJUSTER PRACTICE EXAM QUESTIONS AND ANSWERS.
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NY ADJUSTER PRACTICE EXAMQUESTIONS AND ANSWERS
1. The deductible does each of these EXCEPT:
a. reduce loss costs
b. lower premium costs
c. indemnify the insured
d. excludes payment for small claims - answer c. indemnify the insured
2. The Other Insurance Clause:
a. prohibits other insurance on the same property
b. upholds the principle of indemnity
c. allows coverage for catastrophic losses
d. allows more than one person to be insured under the policy - answer b. upholds the principle
of indemnity
3. Chance of a windstorm causing a loss to one's property is:
a. risk
b. uninsurable
c. hazard
d. peril - answer a. risk
4. Each of the following involves pure risk EXCEPT:
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