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| Section | Weight | Objectives |
|---|---|---|
| Dwelling and Homeowners Insurance | - New York specific endorsements - Personal liability supplement - Standard Fire Policy - Personal umbrella policies - Homeowners property coverage - Homeowners liability coverage - Dwelling policies | |
| Insurance Regulation | - Qualifications - License renewal - Licensing process - License maintenance and duration - Temporary adjuster permits - Bond requirements - Fingerprinting - Licensing requirements | |
| Other Property and Liability Coverages | - Flood insurance - Surety and fidelity bonds - Personal automobile - Commercial automobile - Workers compensation - Crime insurance - Inland marine - Ocean marine - Aviation insurance - Excess liability | |
| Commercial Package Policy | 38% | - Monoline versus package policies - First named insured - Common policy declarations - Common policy conditions - Components of a commercial policy |
| Claims Adjustment Procedures | - Negotiation - Subrogation procedures - Releases - Competitive estimates - Alternative dispute resolution - Draft authority - Reservation of rights letters - Advance payments - Mediation - Arbitration - Claims adjustment procedures - Coverage problems - Non-waiver agreements - Appraisal - Execution of releases - Settlement procedures | |
| Commercial Property | - Businessowners Policy - Commercial Package Policy - Commercial property coverage - Commercial property forms and endorsements - Commercial General Liability | |
| Insurance Principles and Concepts | - Waiver and estoppel - Hazards - Warranties - Concealment - Physical hazards - Insurance principles and concepts - Insurable interest - Insurance contracts - Representations and misrepresentations - Morale hazards - Fraud - Moral hazards | |
| New York Unfair Claim Settlement and Prohibited Practices | - Unfair claim settlement practices - New York claim settlement laws and regulations - Consumer privacy requirements - Insurance fraud and false statements - New York cybersecurity regulation - Terrorism Risk Insurance Act |
>> NY-Independent-General-Adjuster Fragen Antworten <<
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45. Frage
All of the following would be covered by Other than Collision (Comprehensive) coverage EXCEPT
Antwort: A
Begründung:
The correct answer is B - auto body damage caused by a roll-over. In automobile physical damage insurance, Other Than Collision, commonly called Comprehensive coverage, protects against specified noncollision causes of physical loss. New York DFS specifically identifies theft, fire, flood, windstorm, glass breakage, vandalism, animal impact, and falling or flying objects as examples of comprehensive losses.
Accordingly, an electrical fire causing interior damage falls within the fire exposure contemplated by Comprehensive coverage. Flood damage to the vehicle is also a Comprehensive exposure, and hailstorm damage falls within windstorm/hail-type noncollision loss.
A roll-over or overturn, however, is classified as a collision loss. Collision coverage traditionally includes physical damage resulting from the covered automobile's impact with another vehicle or object and from upset or overturn. Thus, an automobile that rolls over during operation would require Collision coverage rather than Other Than Collision coverage.
This distinction is important because both coverages are optional physical-damage protections in most circumstances and may carry different deductibles. The adjuster must determine the actual mechanism of damage before selecting the applicable coverage.
The Series 17-70 Auto Insurance curriculum specifically tests Collision versus Other Than Collision physical damage coverage, exclusions, limits, and loss settlement.
Therefore, B is the exception.
46. Frage
The primary purpose of the Workers Compensation Special Disability Fund is to
Antwort: D
Begründung:
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 §15(8).
Therefore, A is correct.
47. Frage
Which of the following endorsements ensures that your contents are NOT valued on an actual cash value basis?
Antwort: C
Begründung:
The correct answer is D - Personal Property Replacement Cost. Under standard homeowners loss-settlement principles, personal property is commonly settled initially on an actual cash value (ACV) basis unless replacement-cost treatment is provided by the policy or an endorsement. ACV normally reflects depreciation, whereas replacement cost measures the amount required to replace damaged property with property of like kind and quality without deducting depreciation, subject to the policy's conditions and limitations.
The Personal Property Replacement Cost endorsement, HO 04 90, modifies the homeowners contract so qualifying Coverage C personal property may be settled on a replacement-cost basis instead of ordinary ACV treatment. The official Series 17-70 content outline specifically identifies Personal Property Replacement Cost (HO 04 90) as a selected homeowners endorsement and separately tests ACV and replacement-cost valuation.
Inflation guard principally adjusts coverage limits to reflect increasing construction costs; it does not itself convert contents from ACV to replacement cost. "Other insurance" governs coordination when multiple policies apply. Increased cost of construction typically addresses additional building costs generated by enforcement of ordinances or laws rather than depreciation on personal property.
New York DFS distinguishes replacement cost from ACV by noting that replacement-cost settlement does not deduct depreciation.
Therefore, D is correct.
48. Frage
Applicants for a New York public adjuster's license MUST file a bond on the condition that the applicant will faithfully perform the adjuster's duties under the license. The penal sum of the bond REQUIRED is
Antwort: B
Begründung:
The verified answer is C - $1,000. New York Insurance Law §2108(l)(1) states that no adjuster's license or renewal license-other than an independent adjuster's license-may be issued unless a bond is filed with the Superintendent of Financial Services. The statute sets the required penal sum at $1,000, conditioned upon the faithful performance of the licensee's duties.
Because the question specifically concerns a public adjuster, the bond requirement applies. Public adjusters represent insureds in negotiating or effecting insurance claim settlements and are subject to distinct licensing and regulatory requirements.
The statutory wording is especially important because current New York law expressly excludes independent adjusters from this bond requirement. That distinction matters for Series 17-70 candidates, since Series 17-70 itself is the Independent General Adjuster examination, but this particular question asks about a public adjuster.
The answer shown as $10,000 in some older or secondary practice materials is not consistent with the current New York statutory requirement. The controlling figure under §2108(l) is $1,000.
Accordingly, for current New York law, the correct answer is unequivocally C - $1,000.
49. Frage
A producer is REQUIRED to report to the Commissioner any criminal prosecution taken in any jurisdiction against him within how many days of the initial pre-trial hearing date?
Antwort: D
Begründung:
The correct answer is B - 30 days. New York Insurance Law §2110(j) requires a licensee subject to Article
21 to report any criminal prosecution taken against the licensee in any jurisdiction within 30 days of the initial pretrial hearing date. The report must include the initial complaint, the resulting order, and other relevant legal documents.
New York DFS enforcement actions continue to apply this requirement directly. DFS has disciplined licensees, including independent adjusters, for failing to notify the Department within the required 30-day period following the initial pretrial hearing date.
There is one terminology point to correct for New York examination purposes: the statute requires notification to the Superintendent of Financial Services, not a "Commissioner." The 30-day answer, however, remains unchanged.
Do not confuse criminal-prosecution reporting with the separate requirement under §2110(i) for administrative actions. Administrative actions taken in another jurisdiction or by another governmental agency must generally be reported within 30 days of the final disposition of that matter.
Series 17-70 reference topics: Insurance Regulation - Licensing, Maintenance of License, Disciplinary Actions, Reporting Requirements, and New York Insurance Law §2110.
50. Frage
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