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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Commercial Property | - Commercial property forms and endorsements - Businessowners Policy - Commercial property coverage - Commercial Package Policy - Commercial General Liability | |
| Topic 2: New York Unfair Claim Settlement and Prohibited Practices | - Consumer privacy requirements - Unfair claim settlement practices - Terrorism Risk Insurance Act - Insurance fraud and false statements - New York cybersecurity regulation - New York claim settlement laws and regulations | |
| Topic 3: Insurance Regulation | - License maintenance and duration - Fingerprinting - Qualifications - Temporary adjuster permits - License renewal - Bond requirements - Licensing process - Licensing requirements | |
| Topic 4: Claims Adjustment Procedures | - Negotiation - Arbitration - Subrogation procedures - Settlement procedures - Appraisal - Execution of releases - Draft authority - Advance payments - Mediation - Competitive estimates - Releases - Non-waiver agreements - Reservation of rights letters - Coverage problems - Alternative dispute resolution - Claims adjustment procedures | |
| Topic 5: Dwelling and Homeowners Insurance | - Personal umbrella policies - Dwelling policies - Homeowners property coverage - Standard Fire Policy - Personal liability supplement - Homeowners liability coverage - New York specific endorsements | |
| Topic 6: Insurance Principles and Concepts | - Hazards - Fraud - Insurable interest - Concealment - Insurance principles and concepts - Representations and misrepresentations - Insurance contracts - Moral hazards - Morale hazards - Physical hazards - Waiver and estoppel - Warranties | |
| Topic 7: Commercial Package Policy | 38% | - First named insured - Monoline versus package policies - Common policy conditions - Components of a commercial policy - Common policy declarations |
| Topic 8: Other Property and Liability Coverages | - Crime insurance - Workers compensation - Surety and fidelity bonds - Ocean marine - Personal automobile - Commercial automobile - Excess liability - Inland marine - Flood insurance - Aviation insurance |
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NEW QUESTION # 25
A Public Employee Bond would be REQUIRED for which town employee?
Answer: B
Explanation:
The correct answer is C - Treasurer. A Public Official or Public Employee Bond guarantees the faithful and honest performance of duties by a public official or employee, particularly where the position involves custody, control, collection, or disbursement of public funds.
Treasurers are among the classic positions requiring public official bonds because they exercise direct fiduciary responsibility over governmental money. Surety industry guidance specifically identifies treasurers, tax collectors, clerks, and similar public officials as common positions for which statutory public-official bonds are required. The Surety Association's classification material likewise specifically identifies treasurers and tax collectors as public officials with bonding exposures.
A truck driver, lifeguard, or librarian may certainly be a municipal employee, but those occupations do not inherently involve the fiduciary custody and accounting of public funds that makes a Treasurer the clear examination answer. A particular jurisdiction could impose bonding requirements on additional positions, but that does not alter the general surety principle tested here.
Public official bonds protect the governmental entity and ultimately the public rather than functioning as conventional liability insurance for the official.
The Series 17-70 surety material requires knowledge of official bonds, public employee bonds, fidelity obligations, principals, obligees, and sureties.
Therefore, C is correct.
NEW QUESTION # 26
The primary purpose of the Workers Compensation Special Disability Fund is to
Answer: D
Explanation:
The correct answer is A - encourage employers to hire workers with pre-existing disabilities. New York's Special Disability Fund, historically referred to as the Second Injury Fund, was designed to reduce the financial disincentive associated with employing workers who already had permanent physical impairments.
The New York Workers' Compensation Board explains that the fund assumed, in qualifying cases, part of the permanent disability liability resulting when a worker with a pre-existing disability sustained a subsequent employment injury. The Board expressly states that one purpose was to encourage employers to hire people with disabilities by protecting employers against disproportionate liability from a subsequent workplace injury.
Therefore, option A identifies the underlying policy objective. The fund was not created simply because an employee experienced two injuries, eliminating B. It does not provide ordinary benefits for injuries unrelated to employment, so C is incorrect. Option D inaccurately describes the fund as directly compensating employees for "second partial disability claims"; its principal mechanism was reimbursement or allocation of liability involving employers and insurers under qualifying statutory circumstances.
The Fund is now closed to new claims, although historical Section 15(8) matters continue to be administered.
The Series 17-70 outline nevertheless specifically tests the Special Disability Fund under WCL ยง15(8).
Therefore, A is correct.
NEW QUESTION # 27
What type of insurance covers goods in transit over water?
Answer: A
Explanation:
The correct answer is A - Cargo. Marine Cargo Insurance protects goods or merchandise against covered physical loss or damage while those goods are being transported. Although historically associated primarily with ocean voyages, contemporary cargo policies can cover transit by sea, air, road, rail, or combinations of these methods.
Major marine insurers describe cargo coverage specifically as insurance for goods in transit, including movements by sea. Thus, when the exposure is physical loss of merchandise being transported over water, cargo insurance is the correct form.
"Freight," option C, ordinarily refers to transportation charges or, in marine terminology, the financial interest associated with earning freight charges. It does not identify the insurance protecting the goods themselves.
Protection and Indemnity, option D, is principally maritime liability insurance for vessel owners and operators, addressing exposures such as third-party bodily injury, property damage, crew liability, collision liabilities, and related maritime obligations. "Piracy" is a peril or specialized exposure rather than the general policy classification requested.
An independent adjuster must distinguish hull, cargo, freight, and protection-and-indemnity interests because each represents a different insurable interest within ocean marine insurance.
Therefore, goods transported over water are insured under Cargo Insurance, making A correct.
NEW QUESTION # 28
Which of the following would be considered an unforeseen act which causes bodily harm?
Answer: A
Explanation:
The correct answer is C - Accidental injury. An accidental injury results from an unintended or unforeseen event producing bodily harm. This characteristic distinguishes an accident from deliberate conduct or an intentionally produced injury. New York's accident-insurance framework treats accident coverage as insurance for death, dismemberment, disability, medical care, or similar loss caused by an accident or specified types of accidents. DFS also requires accident-only policies to make clear that benefits relate to a covered accident, rather than sickness generally.
Options B and D involve intentional self-harm and therefore do not satisfy the ordinary accidental-event concept stated in the question. A suicide attempt is intentionally undertaken even though the eventual degree of injury may not have been intended. A deliberate self-inflicted injury is expressly intentional by definition.
Alcohol abuse is also not itself an unforeseen accidental act producing bodily injury. Although an accident might occur while a person is intoxicated, the abuse itself is not synonymous with an accidental injury and coverage would depend on the actual policy wording and circumstances.
For examination purposes, the defining characteristics are unexpectedness, lack of intent, and resulting bodily harm.
Series 17-70 reference topics: Other Coverages - Accident and Health Concepts, Accidental Injury, Accident-Only Coverage, and Exclusions for Intentional Injury.
NEW QUESTION # 29
What percentage of loss of wages is covered under Personal Injury Protection (PIP)?
Answer: C
Explanation:
The correct answer is C - 80%. New York's mandatory No-Fault system, formally established under the Comprehensive Motor Vehicle Insurance Reparations Act, provides Personal Injury Protection benefits for qualifying basic economic loss resulting from a motor vehicle accident.
New York Department of Financial Services guidance states specifically that Basic No-Fault coverage pays
80% of lost earnings from work, subject to a maximum payment of $2,000 per month for up to three years from the date of the accident. Applicable statutory offsets may reduce the amount payable, including qualifying Workers Compensation, New York disability, or federal Social Security disability benefits.
PIP also includes reasonable and necessary accident-related medical and rehabilitation expenses, specified other necessary expenses, and a death benefit, all subject to the statutory structure and the basic No-Fault limit.
The Series 17-70 official outline directly identifies the Comprehensive Motor Vehicle Insurance Reparations Act (PIP), medical expenses, rehabilitation, loss of earnings, funeral expenses, substitution services, OBEL, and additional PIP as examination content.
Option D is incorrect because No-Fault does not replace 100% of wages. Options A and B understate the statutory percentage.
Accordingly, the New York PIP wage-loss percentage tested by this question is 80%, making C correct.
NEW QUESTION # 30
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