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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Ethics & Professional Responsibility | 15% | - Fraud detection and reporting obligations - Fiduciary duty, conflict of interest, and confidentiality - Fair claims handling standards and professional conduct |
| Topic 2: Property & Casualty Coverages | 25% | - Dwelling and Homeowners policies - Specialty lines โ Inland Marine, Flood, Workers' Compensation, Crime - Automobile coverages โ Personal and Commercial - Commercial Property and Businessowners policies - General Liability and Commercial General Liability |
| Topic 3: New York Insurance Law & Regulations | 25% | - Licensing requirements, eligibility, and examination rules - NY Insurance Law Articles and DFS regulations - Unfair Claims Settlement Practices Act / Regulation 64 - State-specific policy provisions and mandatory endorsements |
| Topic 4: Claims Investigation & Adjusting Procedures | 20% | - Evidence gathering, coverage analysis, and policy interpretation - Claim intake, notice of loss, and initial investigation - Loss valuation, damage assessment, and estimating - Settlement negotiation, reservation of rights, and denial procedures |
| Topic 5: Insurance Fundamentals & General Principles | 15% | - Indemnity, subrogation, utmost good faith - Risk management and insurable interest - Insurance contract elements and legal structure |
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NEW QUESTION # 14
A homeowners policy debris removal clause covers
Answer: B
Explanation:
The correct answer is D. Homeowners Debris Removal coverage does not pay merely because a tree has fallen somewhere on the residence premises. The coverage generally requires that the loss satisfy the specific policy conditions governing fallen-tree removal.
Under standard homeowners principles, reasonable tree-removal expenses can be covered when a tree is felled by an applicable insured peril and damages a covered structure. Certain forms also provide coverage where a qualifying tree blocks a driveway or specified accessibility route. A state insurance regulator's homeowners guidance similarly explains that debris removal includes qualifying trees felled by a covered peril when they damage a covered structure or meet specified access-blocking requirements.
Option A is much too broad because a tree falling harmlessly in the yard does not automatically generate insurance coverage. Option B is likewise incorrect because "natural disaster" is not itself a policy coverage trigger; the cause must fall within the applicable insured-peril wording. Option C confuses the tree-removal sublimit with the requirement that the tree cause a particular dollar amount of property damage. The policy does not require exactly $1,000 of structural damage.
The Series 17-70 outline specifically tests Homeowners Additional Coverages, Perils Insured Against, Exclusions, and Conditions.
Therefore, D is the best answer.
NEW QUESTION # 15
What is NOT covered in the Farm Liability Coverage Form?
Answer: C
Explanation:
The correct answer is C - Injury to farm employees. The standard Farm Liability Coverage Form provides several principal liability protections. These include Coverage H - Bodily Injury and Property Damage Liability, Coverage I - Personal and Advertising Injury Liability, and Coverage J - Medical Payments.
These correspond directly to options D, B, and A.
In contrast, bodily injury sustained by an employee as a result of employment by the insured is generally excluded from the standard liability coverage. Standard Farm Liability wording excludes most bodily injury to an employee arising out of and in the course of employment, reflecting the principle that occupational injuries should ordinarily be handled through Workers Compensation or specialized farm-employer coverage rather than general farm liability.
Where broader protection for farm employees is needed, specialized endorsements or separate statutory coverage may modify the exposure. An adjuster must therefore distinguish third-party farm liability from an employer's obligations to employees.
The Series 17-70 outline specifically includes farm liability concepts and requires candidates to distinguish covered liability hazards from employee-related exclusions.
Therefore, C is correct.
NEW QUESTION # 16
Steve was involved in an automobile accident. He does NOT agree with the settlement offer by the insurer. Which common policy provision allows Steve to dispute the settlement offer?
Answer: D
Explanation:
The correct answer is D - Arbitration. Arbitration is a dispute-resolution mechanism in which a disagreement is submitted to a neutral arbitrator or arbitration panel rather than being resolved solely through continued negotiations between the parties. Depending on the insurance coverage and policy provision involved, arbitration may be used to resolve specified disputes concerning entitlement to recovery, damages, or other issues identified in the contract or applicable law.
The question states that Steve rejects the insurer's settlement offer and asks which common policy provision provides a mechanism for disputing the settlement. Of the available choices, arbitration is the only recognized dispute-resolution provision.
A preferred settlement is not a standard policy dispute mechanism. A competitive bid is an estimating or procurement technique and does not determine contractual disputes between an insured and insurer. A market value clause concerns valuation methodology and does not itself create a formal procedure for resolving a contested settlement.
An adjuster must also distinguish arbitration from appraisal. Appraisal is commonly designed to resolve disputes solely over the amount of property loss, whereas arbitration can address disputes according to the scope established by the applicable contract or statute.
Series 17-70 reference topics: Auto Insurance - Claim Settlement, Arbitration, Appraisal, Loss Valuation, and Dispute Resolution.
NEW QUESTION # 17
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
Answer: A
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 # 18
Homeowner Policies exclude coverage for
Answer: C
Explanation:
The correct answer is A. Standard homeowners property forms contain a broad earth movement exclusion, encompassing events such as earthquake, landslide, mudslide, earth sinking, rising, or shifting, subject to the precise policy wording and any endorsements purchased. Earthquake coverage ordinarily requires a separate endorsement or policy. The Series 17-70 examination outline specifically requires knowledge of Homeowners Policy additional coverages, perils insured against, exclusions, conditions, and selected endorsements, including an earthquake endorsement.
The remaining choices describe protections commonly appearing as Additional Coverages rather than general exclusions. Debris Removal reimburses reasonable expenses for removing debris of covered property following a covered cause of loss. Insurance-regulator guidance confirms debris removal is ordinarily incorporated into homeowners coverage when the underlying damage results from an insured peril.
Likewise, Property Removed protects covered property against direct loss while it is being removed from endangered premises to safeguard it from an insured peril, subject to the form's time limitations. Fire Department Service Charge provides a specified additional amount when an insured incurs a contractual fire- department service charge. These provisions are standard examples of homeowners additional coverages.
Therefore, among the four choices, earth movement is the excluded cause of loss.
NEW QUESTION # 19
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