NY 2

Sam the shopkeeper mops the floor of his store and forgets to set the "Caution: Wet Floor" sign in the area to warn his customers. Sarah walks through the store a few moments later, slips on the floor and injures her arm and leg. This is an example of:

A negligent tort.

Which of the following BEST describes a tort?

An act causing harm to an innocent party for which a civil remedy is provided through the payment of monetary damages.

Which of the following statements is NOT TRUE regarding "common law"?

Common law is codified law.

Torts that can be covered by insurance policies include all of the following, EXCEPT:

Intentional torts purposely committed to cause harm to another.

For a liability policy to pay a claim, the person who is legally liable:

Must be an "insured" under the policy.

All of the following are prerequisites to obtaining a NY Independent Adjuster license, EXCEPT:

Must have experience in adjusting insurance claims for all possible lines of insurance

Using the modified comparative negligence standard, a plaintiff in a lawsuit who is 60% at fault for her injuries will receive:

No award.

When can the NY Superintendent of Insurance revoke an adjuster's license?

Not until a hearing is held to review the evidence and allow the licensee an opportunity to mount a defense.

All of the following are duties of the insured after they cause a liability loss, EXCEPT:

Notifying the insurance company of the injured third party.

What type of liability is specifically imposed by statutory law?

Strict liability.

Diane is fined by the Superintendent for a violation of the insurance law of New York. The fine is not paid within 20 days. What action may the Superintendent take?

Suspend or revoke her license

The New York Superintendent of Insurance has decided to resign from the position, effective immediately. How will the vacancy be filled?

The Governor will designate a Deputy Superintendent to perform the job until a replacement is found by the Governor and approved by the state senate.

If a licensee in NY prefers to conduct business under a name other than his / her legal name:

The Superintendent must first approve the assumed name

All of the following statements regarding the bond that most be posted by adjuster license applicants in NY is true, EXCEPT:

The bond must be posted in the amount of $2,000

All of the following statements are TRUE with regard to punitive damages, EXCEPT:

They are awarded in such a high amount that the court will not award compensatory damages to the plaintiff because they are no longer necessary.

A NY licensee must report to the Superintendent any criminal prosecution lodged against him or her in any jurisdiction:

Within 30 days of the initial pretrial hearing date

Jewell has filed a lawsuit because she was injured by a negligent party. During the court proceeding, it is determined that Jewell was 10% negligent in her own injuries, but nonetheless the award for damages was set at $22,000. Jewell's state uses the pure comparative negligence standard to compute damage awards. Therefore, Jewell's damage award will be reduced by:

$2,200.

Before revoking or suspending a license, the Superintendent must first send _____ notice and give the accused an opportunity for a hearing.

10 day advance notice

NY has been struck with a catastrophe and adjusters are desperately needed. The Superintendent of Insurance can issue a temporary adjuster permit in an emergency situation for _______ days.

120

A NY Insurance licensee must advise the Insurance Department of change of address within:

30 days of the change

Which of the following initiates a lawsuit to deal with a liability insurance claim dispute?

A complaint.

A defendant in a lawsuit has been found negligent. Due to this finding, the plaintiff has been awarded damages for pain and suffering. This means the plaintiff has received:

A general damage award.

All of the following statements describe an element that must be present in determining the proximate cause of a liability loss, EXCEPT:

An intervening cause.

Alec goes to an amusement park and rides a roller coaster that was designed to flip the riders upside down. Alec is taller than the average person so when the roller coaster flips, he hits his head on the safety bar. After receiving medical care, Alec files a claim against the amusement park, seeking payment for his medical bills, pain and suffering. What defense against negligence would the amusement park most likely use to deny this claim?

Assumption of risk.

In which of the following cases of alleged negligence would the defendant not be legally liable?

Bill was restoring an antique auto at his auto store's garage when Jeff drove by the garage. Jeff slowed his car and looked over his shoulder to admire the antique car. Suddenly his car struck a telephone pole. Jeff sues Bill for damages.

A liability policy written on an "occurrence" form:

Covers a liability claim when the occurrence took place during the policy period, regardless of when the claim is filed.

Which of the following is NOT one of the general powers and duties of the New York Superintendent?

Creating insurance laws for the state of NY.

The application for an adjuster license in NY must be approved by at least _______ reputable citizen(s) of the community where the applicant resides.

Five

In New York, the Superintendent may revoke an adjuster's license for which of the following?

Having been convicted of a felony

Bill was sued and the court determined that he was negligent. This means:

He failed to do what a reasonably prudent person would do in the same circumstance.

Mike purchased a policy several years ago to cover him for liability. Last year, Mike determined that the limits of his liability policy were not high enough to cover him adequately should a loss occur, so he purchased an excess liability policy to provide more coverage. Mike experiences a loss, and discovers that his underlying liability policy had expired before the loss, but his excess liability policy is still in effect. How will this loss be paid?

It will be denied, due to nonconcurrency.

Norma Submitted her license renewal application to the NY Department on December 31st. On January 2nd, the Superintendent informs Norma of his/her intent not to renew Norma's license. On which of the following dates will Norma no longer be licensed in NY?

January 7th

Tort law applies to all of the following, EXCEPT:

Liability arising from breach of contract.

A type of insurance that permits an insured to collect from his/her own insurance company, without proving the negligence of a third-party, is known as:

No-fault.

All of the following are factors in proving negligence, EXCEPT:

Others involved.

Which of the following would be considered "general damages" that could be awarded to a plaintiff in a negligence case?

Pain and suffering.

Morton is submitting a license application to the NY Department for adjuster license. The "reputable citizens" Morton asked to certify to the truthfulness of the information he entered on his license application did not actually read the application. The "reputable citizens" may be:

Penalized for perjury

In a liability policy, the limits of coverage can be expressed as all of the following, EXCEPT:

Restricted

What type of liability is imposed by law without regard to fault on those participating in certain activities or owning certain things that are considered especially hazardous?

Strict/Absolute

Which of the following terms means "liability through another person"?

Vicarious/Imputed liability.

Under a liability policy the insurance company will pay damages on behalf of an insured when:

When it is established that the insured is legally liable.

In whish of the following circumstances would it be possible for the NY Superintendent to waive the state licensing exam requirement for a licensee or applicant?

When the applicant is submitting an application for a license renewal

In NY, a "defined violation" of insurance laws means:

a violation of insurance laws and the unfair practices.