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| Section | Weight | Objectives |
|---|---|---|
| Homeowners Policy | 10% | - Property Coverages
|
| Adjusting Losses | 11% | - Claim Investigation
|
| Medical Reports and Terminology | 4% | - Medical Terminology
|
| Personal Inland Marine | 13% | - Personal Articles Floater
|
| Commercial Package Policy | 38% | - Transportation Coverages
|
| Insurance Regulation | 6% | - Claim Settlement Regulations
|
| Dwelling Policy | 6% | - Property Coverages
|
| Insurance Basics | 6% | - Insurance Principles
|
| Accident and Health Insurance Basics | 6% | - Limited Policies
|
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NEW QUESTION # 40
After a loss occurs to an insured automobile, according to the conditions of a personal automobile insurance policy, what MUST the insured party do?
Answer: A
Explanation:
The correct answer is D - Permit the insurer to inspect the vehicle before it is repaired. Under the Personal Auto Policy's duties following an accident or loss, a person seeking physical-damage coverage must give the insurer a reasonable opportunity to inspect and appraise damaged property before repair or disposal. This allows the carrier to document the damage, determine whether it resulted from a covered cause of loss, evaluate repairability, estimate repair costs, establish actual cash value where necessary, and determine whether the automobile constitutes a total loss. Standard personal-auto policy language expressly imposes this duty.
Option A is not universally required for every collision. Police notification is specifically required by the standard policy for situations such as theft, while state law may independently impose accident-reporting obligations in particular circumstances. Option B concerns maintaining coverage before the loss, not a post- loss claim duty. Option C does not express the relevant physical-damage requirement.
The insured must also take reasonable steps to protect the covered auto against further loss and comply with other cooperation and documentation requirements.
The official Series 17-70 outline expressly includes Personal Auto Policy-Coverage for Damage to Your Auto and Duties After an Accident or Loss.
Therefore, the required answer is D.
NEW QUESTION # 41
A Public Employee Bond would be REQUIRED for which town employee?
Answer: D
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 # 42
The policy benefits are found in what part of an insurance policy?
Answer: B
Explanation:
The correct answer is A - Declarations. The declarations page provides policy-specific information identifying the coverages and benefits selected by the insured, together with applicable limits, deductibles, policy dates, insured information, covered property, vehicles, or locations as appropriate. New York DFS describes the declarations page as a summary of the insured's coverage and requires covered benefits and limits to be accurately reflected there.
The technical distinction is important: the Insuring Agreement contains the insurer's operative contractual promise to pay or perform when the coverage requirements are satisfied. However, because "Insuring Agreement" is not among the answer choices, the declarations page is the correct response to where the policy's selected benefits and coverage amounts are identified.
Option B, Conditions, establishes contractual requirements governing performance of the policy. Option C, the insured's duties, concerns obligations such as providing notice, protecting damaged property, submitting documentation, and cooperating with investigation. Option D, Exclusions, removes or restricts coverage that would otherwise fall within the coverage grant.
An adjuster should never read the declarations page in isolation; it must be interpreted together with the coverage form, definitions, exclusions, conditions, and endorsements.
Series 17-70 reference topics: Insurance Basics - Declarations, Policy Benefits, Coverage Limits, Conditions, Exclusions, and Policy Structure.
NEW QUESTION # 43
If a licensee has been found to have committed any fraudulent or dishonest practice, the Superintendent may do all of the following EXCEPT
Answer: B
Explanation:
The verified answer is D - withhold the licensee's commissions and/or fees. New York Insurance Law §2110 authorizes the Superintendent of Financial Services to refuse renewal, revoke, or suspend an insurance producer's, consultant's, adjuster's, or other covered license when the licensee has used fraudulent, coercive, or dishonest practices or engaged in specified misconduct.
New York law also authorizes monetary penalties. Insurance Law §2127 permits the Superintendent, in lieu of license revocation or suspension in qualifying proceedings, to impose a monetary penalty. Thus, A and B clearly represent recognized regulatory sanctions.
Option D is the required exception because withholding commissions or fees otherwise earned by a licensee is not listed as the Article 21 disciplinary sanction for fraudulent or dishonest practice. Regulatory action may affect the person's continuing authority to transact insurance and can include suspension, revocation, nonrenewal, and statutory penalties, but it does not operate simply by confiscating the licensee's compensation.
The video's use of "Insurance Commissioner" should also be corrected for New York: the appropriate regulator is the Superintendent of Financial Services.
The Series 17-70 outline tests licensing, disciplinary actions, penalties, suspension, revocation, and prohibited fraudulent or dishonest conduct.
Therefore, D is the verified answer.
NEW QUESTION # 44
Which of the following is covered by the Causes of Loss - Special Form under commercial property?
Answer: B
Explanation:
The correct answer is D - Windstorm. The Commercial Property Causes of Loss - Special Form is written on an open-perils basis. Instead of providing coverage only for specifically named perils, it defines covered causes of loss broadly as risks of direct physical loss unless the cause is expressly excluded or limited.
Windstorm is not generally excluded by the standard Special Form and is therefore ordinarily covered. By contrast, the form expressly excludes smog and includes broad water exclusions encompassing flood, surface water, waves, tides, and mudslide or mudflow. The actual ISO-derived Special Form wording identifies those exclusions directly. New York case law applying the Special Form likewise recognizes flood and mudslide
/mudflow within the standard water exclusion.
This illustrates the key distinction between Basic, Broad, and Special Causes of Loss forms. With a named- peril form, the insured generally begins by demonstrating that a listed peril caused the damage. With Special Form coverage, direct physical loss is presumptively within the broad coverage grant unless an exclusion or limitation applies.
An adjuster must therefore examine the causal mechanism and then determine whether a Special Form exclusion applies.
Among the four choices, Windstorm is the covered cause of loss.
Therefore, D is correct.
NEW QUESTION # 45
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