The Insurance Licensing NY-Independent-General-Adjuster Certification Exam is one of the valuable credentials that are designed to prove an Insurance Licensing aspirant's technical expertise. With the NewYorkIndependent General Adjuster (Series 17-70) (NY-Independent-General-Adjuster) certificate they can be competitive and updated in the highly competitive market. The Insurance Licensing Certification Questions offers a great opportunity for beginners and experienced professionals to not only validate their skills but also advance their careers.
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Claims Adjustment Procedures | - Competitive estimates - Arbitration - Releases - Mediation - Claims adjustment procedures - Non-waiver agreements - Appraisal - Negotiation - Subrogation procedures - Settlement procedures - Execution of releases - Reservation of rights letters - Advance payments - Coverage problems - Draft authority - Alternative dispute resolution | |
| Topic 2: Insurance Principles and Concepts | - Warranties - Waiver and estoppel - Representations and misrepresentations - Insurance principles and concepts - Physical hazards - Hazards - Moral hazards - Fraud - Concealment - Insurance contracts - Insurable interest - Morale hazards | |
| Topic 3: Dwelling and Homeowners Insurance | - Standard Fire Policy - Homeowners liability coverage - New York specific endorsements - Personal liability supplement - Personal umbrella policies - Dwelling policies - Homeowners property coverage | |
| Topic 4: Insurance Regulation | - Qualifications - License maintenance and duration - Temporary adjuster permits - Licensing requirements - Bond requirements - Licensing process - Fingerprinting - License renewal | |
| Topic 5: Commercial Property | - Commercial property forms and endorsements - Commercial Package Policy - Commercial General Liability - Commercial property coverage - Businessowners Policy | |
| Topic 6: New York Unfair Claim Settlement and Prohibited Practices | - Consumer privacy requirements - New York cybersecurity regulation - Terrorism Risk Insurance Act - Insurance fraud and false statements - New York claim settlement laws and regulations - Unfair claim settlement practices | |
| Topic 7: Other Property and Liability Coverages | - Surety and fidelity bonds - Excess liability - Flood insurance - Inland marine - Personal automobile - Ocean marine - Commercial automobile - Workers compensation - Crime insurance - Aviation insurance | |
| Topic 8: Commercial Package Policy | 38% | - Common policy declarations - Components of a commercial policy - Monoline versus package policies - Common policy conditions - First named insured |
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NEW QUESTION # 92
Under an HO-6 policy, Coverage A - Dwelling applies to all of the following EXCEPT
Answer: C
Explanation:
The correct answer is B - unattached appliances. The HO-6 Condominium Unit-Owners form uses Coverage A differently from an ordinary homeowners dwelling form. Coverage A applies to qualifying alterations, appliances, fixtures, and improvements that are part of the building, together with specified items of real property pertaining exclusively to the residence premises and property for which the insured has insurance responsibility under the condominium association agreement.
Current judicial reproduction of condominium-policy language confirms that Coverage A includes
"alterations, appliances, fixtures and improvements" that are part of the building on the residence premises.
Thus, a built-in kitchen cabinet is a fixture forming part of the unit. Attached bathroom fixtures likewise constitute building fixtures. A permanently installed water heater serving the unit can also qualify as building property depending on ownership and association responsibility.
An unattached appliance, however, ordinarily remains personal property rather than a building fixture. Such property is generally analyzed under Coverage C - Personal Property, not Coverage A. The key examination distinction is whether the property has become part of the building or remains movable personal property.
The Series 17-70 outline specifically requires knowledge of HO-2 through HO-6, definitions, Coverage A - Dwelling, Coverage C - Personal Property, and other Section I property coverages.
NEW QUESTION # 93
At the insurer's request, an insured must assist the insurer in
Answer: D
Explanation:
The correct answer is A. Liability insurance policies impose an assistance and cooperation condition on the insured. Under the traditional policy wording, the insured must cooperate with the insurer and, when requested, assist in the conduct of suits and in enforcing rights of contribution or indemnity against persons or organizations that may be liable to the insured for the covered injury or damage. Courts reproducing standard liability-policy language confirm this contractual obligation.
Option B conflicts with another fundamental liability-policy condition: an insured generally may not voluntarily make payments, assume obligations, or incur expenses without the insurer's consent, except for specifically permitted expenses such as immediate first aid under applicable forms. Unauthorized voluntary payments can prejudice the insurer's contractual control of the claim.
Option C is imprecise. Although an insured can be required to assist the insurer in making settlements, the insurer normally controls settlement negotiations within the authority granted by the liability contract. The question asks for the specific duty expressed in standard cooperation language, making A the precise choice.
Paying legal bills, option D, is likewise not the insured's cooperation obligation where covered defense costs are contractually borne by the insurer.
The Series 17-70 outline expressly includes duties after loss, subrogation, third-party provisions, settlement procedures, and subrogation procedures.
NEW QUESTION # 94
Which of the following are included in the basic coverage of Financial Institution Bonds?
Answer: A
Explanation:
The correct answer is A - Counterfeit Currency. Financial Institution Bond Standard Form No. 24 is designed for commercial banks and similar financial institutions and incorporates a series of fundamental crime-related insuring agreements. Standard coverage includes fidelity, loss on premises, property in transit, forgery or alteration, securities exposures, and counterfeit currency protection. The counterfeit-currency insuring agreement covers qualifying direct loss resulting from the institution's good-faith receipt of counterfeit money.
The Series 17-70 outline specifically requires knowledge of Financial Institution Bonds, including Forms 14,
15, 23, 24, and 25 and their major insuring agreements.
Computer systems fraud can be insured through specialized crime/computer-fraud coverage or riders but is not the basic Standard Form No. 24 coverage intended by this question. Audit and claims expense is also generally an additional or specialized expense protection rather than one of the fundamental basic insuring agreements. Debit or credit card losses are subject to specialized provisions, exclusions, and optional coverages rather than constituting the basic answer.
The distinction is important: a financial institution bond is a package of fidelity/crime protections, but not every modern electronic-financial exposure is automatically within its basic form.
Therefore, A - Counterfeit Currency is correct.
NEW QUESTION # 95
In a Dwelling Policy, an unoccupied property refers to one that has no
Answer: B
Explanation:
The correct answer is B - inhabitants. Insurance terminology distinguishes unoccupied property from vacant property. An unoccupied dwelling is generally one that is not presently being lived in but may continue to contain the furniture, fixtures, and personal property normally associated with habitation. A vacant building, by contrast, generally lacks both inhabitants and substantial contents necessary for ordinary occupancy.
New York Department of Financial Services guidance directly addresses this distinction. DFS explains that a vacant residence typically contains no personal property and no inhabitants, whereas an unoccupied residence may retain fixtures and furniture but has no inhabitants or occupants. New York case law cited by DFS similarly treats an unoccupied building as one not being lived in even though personal property remains.
Consequently, option C describes an element more characteristic of vacancy, not merely unoccupancy. The presence or absence of alarms or locks does not determine occupancy status, eliminating A and D.
This distinction matters because vacancy and unoccupancy can affect particular causes of loss, conditions, exclusions, protective obligations, and claim determinations. The Series 17-70 outline tests policy definitions, conditions, exclusions, and dwelling-property coverage concepts.
Therefore, a dwelling without inhabitants is properly characterized as unoccupied, making B correct.
NEW QUESTION # 96
An insurance policy written on a replacement cost basis differs from a policy written on an actual cash value basis by the
Answer: B
Explanation:
The correct answer is D - method of determining a loss payment. Replacement Cost and Actual Cash Value are fundamentally loss-valuation methods. They determine how much an insurer owes after a covered physical loss, subject to policy limits, deductibles, insurance-to-value provisions, and other conditions.
New York DFS explains that where property is settled on a replacement cost basis, the insurer generally pays the amount required to repair or replace the damaged property without deducting depreciation, assuming applicable replacement-cost conditions are satisfied. By contrast, traditional actual cash value treatment takes depreciation or similar factors into account when determining the payable amount.
The distinction therefore directly affects the calculation of the claim payment. It is not determined by the original purchase price, which may bear little relationship to either current replacement cost or current value.
The deductible is a separate contractual amount applied according to policy terms and can exist under either valuation method. Premiums can certainly be influenced by the breadth and value of coverage purchased, but the defining distinction between ACV and replacement cost is not merely a premium-calculation method.
The Series 17-70 curriculum expressly tests Actual Cash Value, Replacement Cost, depreciation, valuation, and loss settlement.
Therefore, D is the precise answer.
NEW QUESTION # 97
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