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| Section | Weight | Objectives |
|---|---|---|
| New York Unfair Claim Settlement and Prohibited Practices | - Unfair claim settlement practices - Consumer privacy requirements - New York claim settlement laws and regulations - Insurance fraud and false statements - New York cybersecurity regulation - Terrorism Risk Insurance Act | |
| Other Property and Liability Coverages | - Ocean marine - Crime insurance - Surety and fidelity bonds - Excess liability - Aviation insurance - Personal automobile - Commercial automobile - Flood insurance - Workers compensation - Inland marine | |
| Insurance Regulation | - Fingerprinting - Bond requirements - License renewal - Licensing process - Qualifications - Licensing requirements - License maintenance and duration - Temporary adjuster permits | |
| Dwelling and Homeowners Insurance | - Dwelling policies - Personal liability supplement - New York specific endorsements - Personal umbrella policies - Homeowners liability coverage - Standard Fire Policy - Homeowners property coverage | |
| Commercial Package Policy | 38% | - First named insured - Common policy declarations - Common policy conditions - Components of a commercial policy - Monoline versus package policies |
| Insurance Principles and Concepts | - Concealment - Morale hazards - Insurance principles and concepts - Moral hazards - Hazards - Insurable interest - Warranties - Fraud - Insurance contracts - Representations and misrepresentations - Waiver and estoppel - Physical hazards | |
| Claims Adjustment Procedures | - Advance payments - Releases - Negotiation - Settlement procedures - Non-waiver agreements - Appraisal - Alternative dispute resolution - Competitive estimates - Coverage problems - Draft authority - Subrogation procedures - Mediation - Execution of releases - Reservation of rights letters - Claims adjustment procedures - Arbitration | |
| Commercial Property | - Commercial Package Policy - Businessowners Policy - Commercial General Liability - Commercial property coverage - Commercial property forms and endorsements |
>> NY-Independent-General-Adjuster Exam Pass Guide <<
Another challenge is staying on top of the ever-changing exam content. Insurance Licensing NY-Independent-General-Adjuster is constantly evolving, and it can be difficult to know what to expect on test day. Our Insurance Licensing NY-Independent-General-Adjuster practice tests and PDF are updated regularly to reflect the latest Insurance Licensing NY-Independent-General-Adjuster Exam Format and content, so you can be confident that you are studying the most up-to-date NY-Independent-General-Adjuster exam information.
NEW QUESTION # 61
A deli customer died from food poisoning because the chicken salad was not prepared correctly. Which type of loss is this an example of?
Answer: C
Explanation:
The correct answer is A - Bodily injury. Commercial General Liability terminology defines "bodily injury" broadly to include bodily injury, sickness, or disease sustained by a person, including death resulting from any of these. Food poisoning from improperly prepared chicken salad constitutes sickness or disease affecting a person's body; because the customer dies as a result, the resulting death remains within the bodily-injury definition.
This scenario may also implicate the products-completed operations hazard, because the allegedly defective or contaminated food caused injury after being provided to the customer. Nevertheless, the question asks for the type of loss, not which CGL hazard classification applies. The loss is therefore bodily injury.
Property damage refers to physical injury to tangible property or qualifying loss of use and does not describe injury or death to a human being. "Health injury" is not the standardized CGL category used for this coverage.
Personal and advertising injury concerns specifically defined offenses such as false arrest, malicious prosecution, wrongful eviction, certain privacy violations, and specified publication-related offenses-not physical illness from contaminated food.
The Series 17-70 outline expressly covers CGL bodily injury and property damage liability, premises and operations, and products-completed operations.
NEW QUESTION # 62
When it comes to liability on a Businessowners Policy, the insurer's duty to defend ends if the
Answer: B
Explanation:
The correct answer is B. Under Businessowners liability coverage, the insurer ordinarily has both a duty to indemnify for covered damages and a duty to defend the insured against qualifying suits. The defense obligation is broad, but it is not unlimited.
Standard BOP wording provides that the insurer's duty to defend terminates when the applicable limit of insurance has been used up through payment of judgments or settlements. Importantly, merely offering or depositing the policy limit is not necessarily sufficient; exhaustion must occur in accordance with the policy's contractual language.
Option A has no relationship to the policy's defense obligation. Tax-payment status is not a BOP liability- defense trigger. Option C can eventually create policy cancellation or lapse issues if premium obligations are not satisfied, but it does not describe the specific provision controlling termination of defense after a covered liability claim has arisen. Option D is entirely unsupported by the contract: an insurer cannot terminate its contractual defense obligation simply because it considers the insured's prior claim history excessive.
The Series 17-70 outline specifically tests Businessowners liability coverage, limits of insurance, liability exclusions, conditions, and claim handling.
Therefore, once the applicable liability limit has been properly exhausted through judgments or settlements, the duty to defend can end.
Thus, B is correct.
NEW QUESTION # 63
Under a Commercial Package Policy (CPP), the first named insured possesses all of the following responsibilities EXCEPT
Answer: C
Explanation:
The correct answer is C - submitting surveys of the insured business to the insurer. The CPP Common Policy Conditions grant the first named insured several special rights and responsibilities. The first named insured may cancel the policy by providing the required written notice, is the party to whom applicable premium refunds are sent, and is authorized to make policy changes with the insurer's consent. Therefore, requesting an adjustment to policy limits falls within the first named insured's authority to seek policy changes.
The Inspections and Surveys condition operates differently. It gives the insurer the right, but generally not the obligation, to make inspections and surveys, provide reports concerning conditions found, and recommend changes. The policy does not impose a standard responsibility on the first named insured to prepare and submit surveys of the business. Standard common-policy wording expressly assigns the inspection-and-survey right to the insurer.
The first named insured also has important premium-related functions. Standard CPP wording provides for return premiums to be sent to the first named insured and recognizes the first named insured's cancellation authority.
The Series 17-70 outline specifically tests CPP components, Common Policy Declarations, Common Policy Conditions, and the First Named Insured.
NEW QUESTION # 64
The self-insured portion of an insurance claim is called a
Answer: A
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 # 65
In order to provide coverage for land-based maritime employees, which endorsement MUST be added to the standard Workers' Compensation Policy?
Answer: A
Explanation:
The correct answer is D - U.S. Longshore and Harbor Workers Compensation Endorsement. The Longshore and Harbor Workers' Compensation Act (LHWCA) is a federal workers' compensation statute covering qualifying maritime employees such as longshore workers, harbor workers, ship repairers, shipbuilders, and shipbreakers who satisfy the Act's coverage requirements.
For New York workers' compensation insurance, the New York Compensation Insurance Rating Board expressly states that U.S. Longshore and Harbor Workers' Compensation Act insurance is provided by attaching the Longshore and Harbor Workers' Compensation Act Coverage Endorsement, WC 00 01 06 A, to the standard Workers Compensation and Employers Liability Insurance Policy.
Option B, the Federal Employers' Liability Act endorsement, addresses railroad employment exposures governed by FELA rather than longshore employment. Maritime Coverage endorsements relate principally to certain admiralty-law liabilities and should not be confused with the specific federal statutory workers' compensation coverage required by the LHWCA.
The distinction between seamen and land-based maritime workers is particularly important: qualifying vessel crew may fall under different maritime remedies, whereas qualifying shoreside maritime workers are the principal concern of the LHWCA.
Series 17-70 reference topics: Workers Compensation - Federal Workers Compensation Laws, LHWCA, Workers Compensation Policy, Employers Liability, and Federal Endorsements.
NEW QUESTION # 66
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