NY-Independent-General-Adjuster High Quality - The Best Insurance Licensing Study NY-Independent-General-Adjuster Test: NewYorkIndependent General Adjuster (Series 17-70)

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Insurance Licensing NY-Independent-General-Adjuster Exam Syllabus Topics:

Section	Weight	Objectives
Personal Inland Marine	13%	- Personal Property Floater 1. Coverage and Eligible Property - Personal Articles Floater 1. Scheduled Personal Property - Personal Effects Floater 1. Coverage and Loss Settlement
Insurance Basics	6%	- Policy Structure 1. Declarations, Conditions and Exclusions 2. Limits, Deductibles and Other Insurance 3. Subrogation, Salvage and Loss Settlement - Insurance Principles 1. Insurable Interest and Indemnity 2. Causes and Valuation of Loss 3. Hazards, Negligence and Liability - Insurance Contracts 1. Representations, Warranties and Concealment 2. Elements and Characteristics
Adjusting Losses	11%	- Role of the Adjuster 1. Duties and Responsibilities 2. Independent, Staff and Public Adjusters - Property and Liability Losses 1. Estimates, Depreciation and Salvage 2. Coverage Verification and Loss Evaluation - Claim Investigation 1. Evidence and Witness Statements 2. Claim Reporting and Documentation - Claim Settlement 1. Subrogation, Appraisal and Arbitration 2. Negotiation and Releases
Commercial Package Policy	38%	- Commercial Policy Components 1. Common Policy Declarations 2. Common Policy Conditions - Transportation Coverages 1. Common Carrier Legal Liability 2. Motor Truck Cargo 3. Transit Coverage - Commercial Inland Marine 1. Marine Definition and Conditions 2. Accounts Receivable and Valuable Papers 3. Contractors Equipment and Installation Floaters 4. Jewelers Block, Signs and Electronic Data Processing
Dwelling Policy	6%	- Coverage Forms and Perils 1. Covered Perils 2. Basic, Broad and Special Forms - Exclusions, Conditions and Endorsements 1. General Exclusions and Conditions 2. New York and Selected Endorsements - Property Coverages 1. Dwelling and Other Structures 2. Personal Property and Loss of Use
Insurance Regulation	6%	- Licensing Requirements 1. Qualifications and Application 2. Bond and Fingerprinting - License Maintenance 1. Renewal and Changes 2. Assumed Names and Reporting - Disciplinary Actions 1. Suspension and Revocation 2. Penalties and Cease and Desist Orders - Claim Settlement Regulations 1. Unfair Claim Practices 2. Consumer Privacy
Accident and Health Insurance Basics	6%	- Types of Coverage 1. Disability, Medical and Long-Term Care 2. Accidental Injury and Sickness - Accident and Health Claims 1. Notice and Proof of Loss 2. Investigation and Payment of Claims - Limited Policies 1. Hospital, Dental and Vision Coverage 2. Accident-Only and Specified Disease
Homeowners Policy	10%	- Liability Coverages 1. Medical Payments to Others 2. Personal Liability - Property Coverages 1. Dwelling, Other Structures and Personal Property 2. Loss of Use and Additional Coverages - Perils, Exclusions and Conditions 1. Exclusions and Conditions 2. Perils Insured Against - Coverage Forms 1. HO-2 through HO-6 2. HO-8 - Selected Endorsements 1. Earthquake, Identity Fraud and Home Business 2. New York Special Provisions
Medical Reports and Terminology	4%	- Injuries, Diseases and Medical Tests 1. Common Injuries and Diseases 2. Diagnostic Tests - Basic Human Anatomy 1. Skeletal, Nervous and Respiratory Systems 2. Cardiovascular and Abdominal Systems - Medical Terminology 1. Medical Specialties 2. Prefixes, Suffixes and Abbreviations

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Insurance Licensing NewYorkIndependent General Adjuster (Series 17-70) Sample Questions (Q34-Q39):

NEW QUESTION # 34
When investigating a liability claim against your insured, the insured calls you and requests that you deny the claim because the insured believes the claim lacks merit. As the adjuster you CANNOT

A. refuse the insured's request.
B. contact the claimant to further explore the facts of the claim.
C. deny the claim simply because of the insured's request.
D. notify the insurer of the insured's request.

Answer: C

Explanation:
The correct answer is B. An independent adjuster's claim decision must be based on the policy, facts, evidence, applicable law, and authority received from the insurer, not merely on the insured's preference that a third-party claim be rejected. An insured's assertion that a claim is meritless is relevant information, but it does not substitute for an objective investigation.
New York Regulation 64 establishes prompt and fair claims-handling standards. DFS states that insurers should assist in claim processing, obtain verification where reasonably necessary, clearly communicate positions on disputed matters, and respond promptly to interested parties. DFS also identifies unfair claims settlement practices as prohibited conduct.
Accordingly, the adjuster may inform the insurer of the insured's position, making A permissible. The adjuster can also decline to follow an unsupported instruction to deny the claim, so C is permissible. Contacting the claimant to investigate the circumstances is an appropriate fact-development step, making D permissible.
What the adjuster cannot properly do is deny liability simply because the insured wants a denial. Such action would bypass the required investigation and professional evaluation.
The Series 17-70 outline specifically tests the adjuster's role, duties and responsibilities, claim investigation, liability-loss investigation procedures, verification, and settlement procedures.

NEW QUESTION # 35
Which of the following exposures would be necessary to purchase a garage coverage form?

A. Moving company.
B. Franchise auto dealer.
C. Auto parts store.
D. Self-serve carwash.

Answer: B

Explanation:
The correct examination answer is D - Franchise auto dealer. The traditional ISO Garage Coverage Form was developed specifically for automobile dealerships and related garage operations because such businesses combine exposures arising from owned autos, customers' autos, premises operations, products/completed operations, and automobile liability.
Under the legacy Garage Coverage Form used in the Series 17-70 commercial-auto syllabus, franchised and nonfranchised automobile dealerships are classic eligible garage operations. The Series 17-70 outline expressly identifies the Garage Coverage Form, Garagekeepers Coverage, liability coverage, physical damage, exclusions, conditions, and definitions as tested commercial-auto subjects.
A moving company is ordinarily handled through commercial auto/motor-carrier arrangements. An auto-parts store does not automatically create the combined dealership exposure contemplated by a garage form. A purely self-service carwash also does not present the same dealer exposure identified by the question.
There is an edition issue worth understanding: ISO replaced the dealer portion of the older CA 00 05 Garage Coverage Form with the modern CA 00 25 Auto Dealers Coverage Form beginning with its 2013 commercial- auto revision. Current Auto Dealers eligibility expressly includes franchised automobile dealerships. The Series 17-70 outline, however, explicitly tests the 2010 commercial-auto Garage form.
Therefore, for this examination, D is correct.

NEW QUESTION # 36
The self-insured portion of an insurance claim is called a

A. liability.
B. principal.
C. deductible.
D. coinsurance.

Answer: C

Explanation:
The correct answer is D - deductible. A deductible is the amount of an otherwise covered loss that the insured agrees to retain before or as part of the insurer's claim payment. In practical terms, it represents a form of self-insurance or risk retention within the policy.
New York Department of Financial Services defines an automobile physical-damage deductible as an amount the insured agrees to be responsible for in the event of a covered collision or comprehensive loss. DFS also explains that increasing the deductible generally shifts a larger portion of potential loss to the insured and can reduce the insurance premium.
For example, if a covered property loss is $8,000 and the policy contains a $1,000 deductible, the insurer ordinarily pays $7,000, assuming no other limitation applies. The insured absorbs the first $1,000.
Coinsurance is different. It is an insurance-to-value mechanism that can reduce recovery when the insured fails to maintain the required amount of insurance. A principal is a party or amount concept used in other financial or surety contexts. Liability describes legal responsibility and is not the portion of a loss retained by the insured.
The Series 17-70 outline specifically tests deductibles, loss valuation, policy limits, coinsurance, and claim settlement calculations.
Therefore, D is correct.

NEW QUESTION # 37
Which of the following is an example of an unfair claim settlement practice?

A. Disclosing the settlement terms and provisions of the contract of insurance.
B. Adopting and implementing standards to settle claims in a timely manner.
C. Delaying the settlement of claims submitted in which liability has become clear.
D. Replacing a policy when it is in the best interest of the insured.

Answer: C

Explanation:
The correct answer is A. New York Insurance Law §2601 identifies specified conduct as unfair claim settlement practices when performed without just cause with sufficient frequency to constitute a general business practice. One expressly identified practice is failing to attempt in good faith to effectuate prompt, fair, and equitable settlements of claims in which liability has become reasonably clear. Deliberately or unjustifiably delaying such a settlement therefore falls directly within the regulatory concept tested by this question.
Option C describes the opposite behavior. Insurers are expected to adopt and implement reasonable standards for prompt claim investigation and settlement. Failure to establish reasonable standards may itself support an unfair-practices finding.
Option D is likewise inconsistent with an unfair-practice answer because accurate disclosure of relevant coverage or settlement provisions promotes informed claim handling. Misrepresentation or improper withholding of material policy information, rather than appropriate disclosure, raises regulatory concerns.
Option B does not describe an unfair claim settlement practice on the facts given.
The official New York Series 17-70 blueprint specifically includes Claim Settlement Laws and Regulations- Regulation 64, Part 216, and Unfair Claim Practices-Insurance Law §2601 under Insurance Regulation.
Accordingly, the conduct in A is the regulatory violation contemplated by the question.

NEW QUESTION # 38
Which is NOT a type of bond?

A. Court.
B. Bid.
C. Performance.
D. Obligee.

Answer: D

Explanation:
The correct answer is A - Obligee. An obligee is not a type of surety bond; it is one of the three parties to a surety bond. The three parties are the principal, the obligee, and the surety. The principal is the party whose performance or obligation is guaranteed. The obligee is the party requiring and benefiting from the bond. The surety is the organization that guarantees the principal's obligation according to the bond terms.
By contrast, bid bonds and performance bonds are recognized types of contract surety bonds. A bid bond supports the bidder's commitment to enter the contract and furnish required security if awarded the job. A performance bond guarantees that the principal will perform the contractual obligations covered by the bond.
"Court bond" is commonly used as a broad description for bonds required in judicial proceedings. The official Series 17-70 outline categorizes these as judicial bonds and separately lists such forms as attachment, replevin, appeal, injunction, and cost bonds.
The Series 17-70 outline makes the distinction explicit: it lists Principal, Obligee, and Surety under "Parties of a surety bond," while Bid and Performance appear under types of contract bonds, and judicial bonds appear as another bond category.

NEW QUESTION # 39
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