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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Insurance Principles and Concepts | - Insurance contracts - Concealment - Fraud - Warranties - Physical hazards - Moral hazards - Representations and misrepresentations - Insurance principles and concepts - Morale hazards - Waiver and estoppel - Insurable interest - Hazards | |
| Topic 2: Claims Adjustment Procedures | - Mediation - Negotiation - Subrogation procedures - Competitive estimates - Non-waiver agreements - Draft authority - Reservation of rights letters - Claims adjustment procedures - Settlement procedures - Coverage problems - Appraisal - Releases - Execution of releases - Alternative dispute resolution - Advance payments - Arbitration | |
| Topic 3: Other Property and Liability Coverages | - Flood insurance - Aviation insurance - Ocean marine - Crime insurance - Inland marine - Workers compensation - Excess liability - Commercial automobile - Surety and fidelity bonds - Personal automobile | |
| Topic 4: New York Unfair Claim Settlement and Prohibited Practices | - Consumer privacy requirements - Terrorism Risk Insurance Act - Insurance fraud and false statements - Unfair claim settlement practices - New York claim settlement laws and regulations - New York cybersecurity regulation | |
| Topic 5: Dwelling and Homeowners Insurance | - New York specific endorsements - Personal umbrella policies - Homeowners property coverage - Dwelling policies - Personal liability supplement - Standard Fire Policy - Homeowners liability coverage | |
| Topic 6: Insurance Regulation | - License renewal - Temporary adjuster permits - Bond requirements - License maintenance and duration - Licensing requirements - Licensing process - Qualifications - Fingerprinting | |
| Topic 7: Commercial Property | - Commercial property forms and endorsements - Businessowners Policy - Commercial property coverage - Commercial General Liability - Commercial Package Policy | |
| Topic 8: Commercial Package Policy | 38% | - Monoline versus package policies - Components of a commercial policy - First named insured - Common policy conditions - Common policy declarations |
>> NY-Independent-General-Adjuster Test Questions <<
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NEW QUESTION # 104
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 # 105
Broad theft coverage may ONLY be endorsed on a Dwelling Policy if the
Answer: A
Explanation:
The correct answer is C - the insured is the owner-occupant. The Broad Theft Coverage endorsement is designed to add theft protection to a Dwelling Policy for an eligible residence occupied by the named insured.
Broad theft coverage is distinguished from limited theft coverage primarily by its eligibility and its ability to provide both on-premises and qualifying off-premises theft coverage.
For a dwelling, condominium, or cooperative unit, broad theft coverage requires the residence to be owner occupied. Where the dwelling is non-owner occupied, a limited theft form is generally the appropriate theft endorsement.
Option A is therefore insufficient because being a landlord does not make the insured eligible for the broad theft endorsement when tenants occupy the insured dwelling. Vacancy, option B, is not an eligibility requirement and may instead trigger important restrictions in theft coverage. Option D also fails because ownership of personal property by a landlord does not substitute for the occupancy requirement.
New York's official Series 17-70 outline expressly identifies the Broad Theft Endorsement (DP 04 83) as a tested Dwelling Policy endorsement. New York DFS's prelicensing topic locator likewise identifies DP 04 83 as required dwelling-policy subject matter.
Therefore, owner-occupancy makes C correct.
NEW QUESTION # 106
Which of the following benefits are NOT paid under workers' compensation laws?
Answer: B
Explanation:
The correct answer is C - Pain and suffering. Workers compensation is a statutory no-fault system designed to provide defined benefits for employees who suffer qualifying occupational injuries or illnesses. New York Workers' Compensation Board guidance identifies benefits including medical care, lost-wage benefits, disability-related awards, survivor benefits, and vocational rehabilitation services.
Workers compensation does not function like a negligence tort action. An injured employee generally does not receive damages for noneconomic elements such as pain, suffering, emotional distress, inconvenience, or loss of enjoyment of life merely because those consequences accompany the occupational injury. Statutory benefits replace the ordinary tort remedy against the employer for covered injuries, subject to limited exceptions under New York law.
Option A is therefore incorrect because vocational rehabilitation services are available to assist qualifying injured workers in returning to employment. Option D is incorrect because cash benefits for disability or lost earning capacity are fundamental workers compensation benefits. Independent medical examinations can also be required within the administration of workers compensation claims; they are not equivalent to tort damages for pain and suffering.
The Series 17-70 outline specifically tests New York Workers Compensation Law, exclusive remedy, covered injuries, benefits provided, disability, medical benefits, and claim procedures.
NEW QUESTION # 107
A New York producer moved his/her office on April 1. The producer MUST inform the Superintendent of the address change no later than
Answer: A
Explanation:
The correct answer is A - May 1. New York Insurance Law ยง2134(a) requires a licensee under Article 21 to inform the Superintendent, by a means acceptable to the Superintendent, of a change of address within 30 days of the change.
Because the producer moved the office on April 1, the 30-day reporting period makes May 1 the applicable answer among the choices. The requirement is designed to keep DFS licensing records current so that official notices, regulatory communications, licensing information, and other required correspondence can be properly directed to the licensee.
July 1 would be approximately three months after the move, October 1 approximately six months later, and December 31 almost nine months later; each exceeds the statutory 30-day reporting period.
The reporting obligation should not be confused with separate Article 21 requirements involving license renewals, administrative-action reporting, criminal-prosecution reporting, appointment changes, or continuing education. Each has its own statutory trigger and timing requirements.
The official Series 17-70 content outline expressly identifies Change of address - all addresses, including email - under Insurance Law ยง2134 and applicable regulations as required examination material.
Therefore, an April 1 office-address change must be reported within 30 days, making A - May 1 correct.
NEW QUESTION # 108
An insurance contract is a contract of utmost good faith because the insurer relies on the truthfulness of the applicant and the insured relies on the insurer's promise to
Answer: A
Explanation:
The correct answer is C - pay the claims. Insurance contracts traditionally incorporate the doctrine of utmost good faith, sometimes expressed by the Latin term uberrimae fidei. The insurance transaction depends heavily on truthful and complete disclosure because the applicant possesses material information concerning the risk, while the insured depends upon the insurer to perform its contractual obligations when an insured loss occurs.
The Series 17-70 official outline expressly identifies utmost good faith, representations, misrepresentations, warranties, concealment, fraud, waiver, and estoppel as legal concepts affecting insurance contracts.
The applicant's obligation is therefore to make truthful representations concerning matters material to underwriting and coverage. Correspondingly, after a covered loss and satisfaction of applicable policy conditions, the insurer must honor its contractual promise to indemnify or otherwise provide the benefits specified by the policy.
Option A is incomplete because simply issuing a policy does not capture the insurer's principal performance obligation after coverage attaches. Filing regulatory reports is a statutory or administrative responsibility and is not the reciprocal contractual promise on which the insured relies. Charging a fair premium is also not the defining reciprocal duty in the doctrine being tested.
Accordingly, the insured relies on the insurer's promise to pay valid covered claims according to the contract, making C correct.
NEW QUESTION # 109
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