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| Section | Weight | Objectives |
|---|---|---|
| Commercial Package Policy | 38% | - Transportation Coverages
|
| Accident and Health Insurance Basics | 6% | - Limited Policies
|
| Dwelling Policy | 6% | - Property Coverages
|
| Personal Inland Marine | 13% | - Personal Effects Floater
|
| Homeowners Policy | 10% | - Perils, Exclusions and Conditions
|
| Insurance Basics | 6% | - Insurance Principles
|
| Adjusting Losses | 11% | - Claim Investigation
|
| Medical Reports and Terminology | 4% | - Injuries, Diseases and Medical Tests
|
| Insurance Regulation | 6% | - License Maintenance
|
>> NY-Independent-General-Adjuster Real Questions <<
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NEW QUESTION # 21
Which part of the garage coverage form provides liability coverage for automobiles in the care, custody, and control of the insured?
Answer: D
Explanation:
The correct answer is C - Garagekeepers Coverage. Garagekeepers coverage addresses loss to customers' automobiles while those vehicles are in the insured garage operation's care, custody, or control, such as while being serviced, repaired, parked, stored, or otherwise attended by the insured.
This distinction is essential because ordinary liability coverage contains a care, custody, or control exclusion for damage to property entrusted to the insured. If an automobile repair business damages a customer's automobile while the vehicle is in the shop's custody, ordinary business auto or general liability property- damage protection generally does not fill that exposure. Garagekeepers coverage is specifically designed for it.
Physical Damage Coverage ordinarily protects covered autos owned or otherwise qualifying under the insured's own physical-damage symbols; it is not synonymous with protection for customer vehicles entrusted to the business. "Specified Coverage" is not the relevant garage-form coverage division.
Garagekeepers may be structured on a legal-liability basis or, depending on available forms, direct primary or direct excess bases. The precise form affects whether negligence must be established.
The official Series 17-70 examination outline expressly includes Garage Coverage, Garage Keeper's Coverage, Liability Coverage, Physical Damage Coverage, Exclusions, Conditions, and Definitions within Commercial Auto.
Therefore, the correct answer is C.
NEW QUESTION # 22
In a subrogation process, the role of the adjuster is to
Answer: C
Explanation:
The correct answer is C. Subrogation permits an insurer that has paid a covered loss to step into the insured's rights, to the extent permitted by law and the policy, and pursue the third party legally responsible for causing that loss.
The New York Court of Appeals defines subrogation as the principle by which an insurer, after paying its insured's loss, is placed in the insured's position so that the insurer can recover from the legally responsible third party. The doctrine both prevents double recovery and ultimately places the financial burden on the responsible party.
An adjuster's role includes recognizing subrogation potential, identifying responsible parties, preserving evidence, documenting liability, calculating the insurer's recoverable payment, and referring or pursuing the recovery according to carrier procedures. Thus, determining the amount that may properly be recovered from the third party is directly relevant.
Option B reverses the relationship: the adjuster is not determining damages for the tortfeasor. Option D is nonsensical in the subrogation context because the responsible third party does not owe insurance premium to the insurer. Option A is inconsistent with the need to establish the third party's legal responsibility.
The Series 17-70 outline expressly includes subrogation as a common policy provision and subrogation procedures within claims adjustment.
Therefore, C is correct.
NEW QUESTION # 23
If a businessowner has a loss, which of the following will the insurer REQUIRE from the insured to assist in the business interruption portion of the claim?
Answer: B
Explanation:
The correct answer is A. A business interruption or Business Income claim requires documentary evidence sufficient to establish what the business would probably have earned had the covered loss not occurred.
Financial records are therefore indispensable. Relevant documentation commonly includes profit-and-loss statements, sales records, payroll information, general ledgers, prior financial statements, income-tax returns, and associated tax schedules.
The standard Business Income coverage conditions authorize the insurer, as often as reasonably required, to examine the insured's books and records and make copies. This enables the adjuster to reconstruct historical income, determine continuing and noncontinuing expenses, identify trends, evaluate the period of restoration, and calculate the actual Business Income loss.
An examination under oath can also be required during a claim investigation, but it is not the best answer to what specifically assists with the business interruption calculation. Furniture and fixture inventories principally support physical property claims. An onsite inspection likewise assists investigation but does not provide the financial evidence needed to quantify lost earnings.
The official Series 17-70 outline specifically tests Business Income/Extra Expense, Business Interruption/time element, and the insured's duty to produce books and records after loss.
NEW QUESTION # 24
Which section of an insurance policy clarifies the meanings of certain terms used in the policy?
Answer: D
Explanation:
The correct answer is D - Definitions. The Definitions section establishes the contractual meaning of important words and phrases used throughout an insurance policy. Defined terms often appear in quotation marks, boldface, or another distinctive format and must be interpreted according to the policy definition rather than solely according to ordinary conversational meaning. This is critical for adjusters because coverage determinations frequently depend on whether a person, property, event, or circumstance satisfies a defined term such as "insured," "occurrence," "bodily injury," "property damage," "residence premises," or "your covered auto." The Insuring Agreement states the insurer's basic promise to provide coverage when specified requirements are met. The Declarations identify policy-specific information such as the named insured, policy period, insured property, selected coverages, limits, and deductibles. The Conditions establish contractual rules and duties governing matters such as notice of loss, cooperation, cancellation, and claim handling.
An adjuster should therefore review definitions together with the coverage grant, exclusions, and conditions before reaching a coverage decision. A term defined within the contract controls the interpretation of that term for that policy.
Series 17-70 reference topics: Insurance Basics - Policy Structure, Definitions, Insuring Agreement, Declarations, Conditions, and Interpretation of Policy Language.
NEW QUESTION # 25
Leah provides transportation for her client to their business lunch. Leah's client closes the car door on her own hand. What type of coverage applies?
Answer: A
Explanation:
The correct answer is C - Medical payments. Automobile Medical Payments coverage is designed to pay qualifying medical and funeral expenses for the insured and passengers injured in an accident involving the covered automobile, without regard to fault, up to the stated policy limit. New York DFS expressly describes Medical Payments Coverage in these terms.
The client closes the vehicle door on her own hand. No fact establishes negligence by Leah, so liability coverage is not the best answer. Liability coverage ordinarily responds when an insured becomes legally responsible for bodily injury or property damage to another person. Here, the passenger's own action caused the injury.
Physical Damage coverage is also incorrect because it protects against damage to the automobile itself, not bodily injury sustained by a passenger. Health insurance may ultimately address certain medical expenses depending on coordination-of-benefits rules, but it is not the automobile coverage specifically designed for this scenario.
In New York, mandatory No-Fault/PIP may also be relevant to injuries arising from the use or operation of a motor vehicle and is generally primary to health insurance. However, PIP is not one of the options. Among the listed answers, Medical Payments is the intended coverage classification.
Therefore, C is correct.
NEW QUESTION # 26
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