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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Commercial Package Policy | 38% | - Common policy conditions - First named insured - Monoline versus package policies - Common policy declarations - Components of a commercial policy |
| Topic 2: Insurance Regulation | - License maintenance and duration - Fingerprinting - Licensing requirements - Licensing process - License renewal - Qualifications - Bond requirements - Temporary adjuster permits | |
| Topic 3: Commercial Property | - Businessowners Policy - Commercial Package Policy - Commercial property coverage - Commercial General Liability - Commercial property forms and endorsements | |
| Topic 4: New York Unfair Claim Settlement and Prohibited Practices | - Terrorism Risk Insurance Act - Insurance fraud and false statements - Unfair claim settlement practices - New York claim settlement laws and regulations - New York cybersecurity regulation - Consumer privacy requirements | |
| Topic 5: Claims Adjustment Procedures | - Non-waiver agreements - Mediation - Competitive estimates - Appraisal - Reservation of rights letters - Claims adjustment procedures - Execution of releases - Settlement procedures - Negotiation - Draft authority - Coverage problems - Advance payments - Alternative dispute resolution - Releases - Arbitration - Subrogation procedures | |
| Topic 6: Insurance Principles and Concepts | - Moral hazards - Physical hazards - Insurance contracts - Hazards - Warranties - Morale hazards - Insurable interest - Insurance principles and concepts - Waiver and estoppel - Concealment - Fraud - Representations and misrepresentations | |
| Topic 7: Dwelling and Homeowners Insurance | - New York specific endorsements - Dwelling policies - Homeowners liability coverage - Personal liability supplement - Homeowners property coverage - Personal umbrella policies - Standard Fire Policy | |
| Topic 8: Other Property and Liability Coverages | - Crime insurance - Flood insurance - Commercial automobile - Personal automobile - Aviation insurance - Surety and fidelity bonds - Inland marine - Excess liability - Ocean marine - Workers compensation |
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NEW QUESTION # 38
Accident-only policies commonly include benefits due to losses related to
Answer: D
Explanation:
The correct answer is C. Accident-only insurance is a limited form of accident and health coverage in which benefits are triggered by an accident or specified category of accidental event, rather than by sickness generally. The NAIC defines an accident as an unexpected event or circumstance without deliberate intent and describes accident-only insurance as coverage for death, dismemberment, disability, hospital treatment, or medical care caused or necessitated by an accident or specified kinds of accidents.
Option A is incorrect because illness is not converted into an accident simply because its onset is unexpected.
Coverage for sickness belongs to health or medical insurance provisions unless specifically included by another policy form. Option B, congenital diseases, similarly concerns medical conditions rather than accidental occurrences. Option D is too broad because the mere absence of intentional conduct does not automatically satisfy the policy's definition of an accidental injury or covered accident. There must be the required causal connection to an insured accidental event.
The Series 17-70 content outline expressly tests Accidental Injury, classes of accident and health coverage, limited policies, and specifically Accident-Only coverage.
Accordingly, a fortuitous, unexpected accidental event is the operative trigger, making C the correct answer.
NEW QUESTION # 39
The insured under a property policy has placed $100,000 of stock in storage. The stock is damaged by a covered cause of loss. What policy provision assures that the storage facility will NOT collect any claim payment?
Answer: B
Explanation:
The correct answer is C - No benefit to bailee. A bailee is a person or organization that temporarily has possession or custody of another person's property. A commercial storage facility holding the insured's stock is therefore functioning as a bailee.
The commercial property condition commonly called No Benefit to Bailee prevents the insurance purchased by the property owner from directly or indirectly benefiting a person or organization merely because that party has custody of the covered property. Court decisions quoting standard commercial property wording state that a person or organization having custody of covered property does not benefit from the insured's property insurance.
The provision preserves the insurer's ability, where appropriate, to pursue recovery against a negligent bailee after paying the insured. Without such wording, a bailee might attempt to rely on the owner's insurance as protection against its own responsibility.
Liberalization automatically broadens coverage when specified policy changes occur. A mortgage clause protects qualifying mortgagees. Assignment concerns transfer of policy rights and generally requires insurer consent.
The Series 17-70 outline tests Commercial Property Conditions, Covered Property, loss conditions, subrogation concepts, and common policy provisions.
Thus, C is the precise answer.
NEW QUESTION # 40
Hired and Non-owned Auto Liability Endorsement covers which of the following?
Answer: B
Explanation:
The correct answer is A. The Hired Auto and Non-Owned Auto Liability endorsement extends a Businessowners Policy's liability protection to specified automobile exposures that otherwise fall within the BOP's auto exclusion.
A non-owned auto is generally an automobile the business does not own, lease, hire, rent, or borrow but that is used in connection with the business. An employee's personally owned automobile being used for company business is the classic example. New York BOP rating material describes Non-Owned Auto Liability as protection for automobiles not owned, borrowed, or hired by the insured, while court decisions applying the endorsement confirm coverage for bodily injury or property damage arising from use of qualifying non- owned autos in the business.
Technically, the endorsement principally protects the business's liability arising from that use; it should not be interpreted as automatically providing personal liability or physical-damage protection to the employee-owner of the vehicle.
Options B, C, and D involve a company-owned automobile. A business-owned van or auto normally requires appropriate commercial automobile insurance and does not become a hired or non-owned auto simply because an employee or customer is driving it.
The Series 17-70 outline specifically includes Businessowners coverage and associated liability concepts.
Therefore, A is correct.
NEW QUESTION # 41
An insurance licensee must do all of the following in order to renew the insurance license EXCEPT
Answer: B
Explanation:
For the New York Independent General Adjuster Series 17-70, the correct answer is D - complete the continuing education requirements. This is an important New York-specific distinction.
The official New York PSI licensing bulletin expressly states that Independent Adjusters are not subject to the continuing-education requirements that apply to resident agents, brokers, consultants, and public adjusters.
The bulletin separately lists Independent Adjusters among license classes exempt from CE.
Renewal itself is governed by Insurance Law ยง2108. Every adjuster's license expires on December 31 of even- numbered years and may be renewed for the ensuing two calendar years by filing the prescribed renewal application. The law also requires the applicable license fee when applying for renewal.
The wording of option A is imprecise because New York law specifically provides that a renewal application filed by December 31 of the expiration year allows the existing license to continue while the application is processed; the statute does not establish a universal "within 30 days" formulation as written. Nevertheless, the decisive Series 17-70 rule tested here is the CE exemption.
The official Series 17-70 outline specifically includes renewal under ยง2108(i) and (j).
Therefore, D is the verified Series 17-70 answer.
NEW QUESTION # 42
In order to provide coverage for land-based maritime employees, which endorsement MUST be added to the standard Workers' Compensation Policy?
Answer: A
Explanation:
The correct answer is D - U.S. Longshore and Harbor Workers Compensation Endorsement. The Longshore and Harbor Workers' Compensation Act (LHWCA) is a federal workers' compensation statute covering qualifying maritime employees such as longshore workers, harbor workers, ship repairers, shipbuilders, and shipbreakers who satisfy the Act's coverage requirements.
For New York workers' compensation insurance, the New York Compensation Insurance Rating Board expressly states that U.S. Longshore and Harbor Workers' Compensation Act insurance is provided by attaching the Longshore and Harbor Workers' Compensation Act Coverage Endorsement, WC 00 01 06 A, to the standard Workers Compensation and Employers Liability Insurance Policy.
Option B, the Federal Employers' Liability Act endorsement, addresses railroad employment exposures governed by FELA rather than longshore employment. Maritime Coverage endorsements relate principally to certain admiralty-law liabilities and should not be confused with the specific federal statutory workers' compensation coverage required by the LHWCA.
The distinction between seamen and land-based maritime workers is particularly important: qualifying vessel crew may fall under different maritime remedies, whereas qualifying shoreside maritime workers are the principal concern of the LHWCA.
Series 17-70 reference topics: Workers Compensation - Federal Workers Compensation Laws, LHWCA, Workers Compensation Policy, Employers Liability, and Federal Endorsements.
NEW QUESTION # 43
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