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| Section | Weight | Objectives |
|---|---|---|
| Adjusting Losses | 11% | - Claim Investigation
|
| Accident and Health Insurance Basics | 6% | - Limited Policies
|
| Personal Inland Marine | 13% | - Personal Effects Floater
|
| Homeowners Policy | 10% | - Liability Coverages
|
| Insurance Regulation | 6% | - Disciplinary Actions
|
| Dwelling Policy | 6% | - Exclusions, Conditions and Endorsements
|
| Commercial Package Policy | 38% | - Transportation Coverages
|
| Insurance Basics | 6% | - Insurance Principles
|
| Medical Reports and Terminology | 4% | - Injuries, Diseases and Medical Tests
|
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NEW QUESTION # 92
An insurance licensee must do all of the following in order to renew the insurance license EXCEPT
Answer: C
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 §2108. 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 §2108(i) and (j).
Therefore, D is the verified Series 17-70 answer.
NEW QUESTION # 93
Which of the following is a type of adjuster report?
Answer: C
Explanation:
The correct answer is B - Interim Report. An interim report is a recognized claims-adjusting report used when an investigation or adjustment cannot yet be finalized. It updates the insurer concerning the current status of the claim, additional evidence obtained, developments since the preliminary report, revised reserves, outstanding documentation, coverage issues, recovery possibilities, or other material facts.
A strong example appears in FEMA's current NFIP Claims Manual. When an adjuster cannot complete the claim within the prescribed period following the preliminary report, an Interim Report is submitted and additional interim reports continue until the assignment can be concluded.
Option A is overly generic and is not the recognized report classification intended by the question. Option C, an appraisal report, may exist in valuation contexts but is not the standard adjuster-progress report being tested. Option D is incorrect because professional adjuster reporting should be factual and evidence-based rather than subjective.
The Series 17-70 examination framework places substantial emphasis on claims adjustment procedures, gathering evidence, loss valuation, coverage analysis, settlement procedures, and professional claim handling.
Accordingly, an Interim Report is the recognized adjuster report among the choices.
NEW QUESTION # 94
What type of insurance covers goods in transit over water?
Answer: B
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 # 95
If insurance is used to establish proof of financial responsibility to comply with the Motor Carrier Act of 1980, what endorsement can be used?
Answer: D
Explanation:
The correct answer is B - MCS-90 endorsement. The MCS-90 is the federally prescribed endorsement attached to a motor carrier's liability insurance policy to demonstrate compliance with applicable public- liability financial-responsibility requirements.
The Federal Motor Carrier Safety Administration identifies Form MCS-90 as the Endorsement for Motor Carrier Policies of Insurance for Public Liability under Sections 29 and 30 of the Motor Carrier Act of 1980.
FMCSA further states that the endorsement is required under 49 CFR §387.15 for motor carriers subject to the applicable federal financial-responsibility rules.
The MCS-90 is attached to the carrier's liability policy rather than to a specific individual vehicle. Its purpose is to assure payment, within the federally required limits, of qualifying final judgments for public liability arising from negligence in the operation, maintenance, or use of covered motor vehicles.
The Additional Insured-Lessor endorsement deals with leased-vehicle relationships. The Individual Named Insured endorsement addresses particular personal-type coverage needs under commercial auto forms. The Mobile Equipment endorsement addresses equipment that otherwise falls outside ordinary automobile classifications.
The Series 17-70 commercial-auto material includes Motor Carrier coverage, federal financial responsibility, endorsements, liability limits, and commercial automobile forms.
Therefore, MCS-90, option B, is the required endorsement.
NEW QUESTION # 96
Which of the following is covered by the Causes of Loss - Special Form under commercial property?
Answer: C
Explanation:
The correct answer is D - Windstorm. The Commercial Property Causes of Loss - Special Form operates primarily on an open-perils basis. Rather than limiting coverage only to individually listed causes of loss, it generally covers risks of direct physical loss unless the cause is specifically excluded or limited by the form.
The Special Form specifically excludes smog. It also contains a Water exclusion that includes flood, surface water, waves, overflow of bodies of water, mudslide, and mudflow. Consequently, options A, B, and C describe causes specifically removed from the broad Special Form coverage grant.
Windstorm, by contrast, is not generally excluded by the standard Causes of Loss - Special Form. Direct physical damage caused by wind is therefore ordinarily covered unless another exclusion, limitation, endorsement, or property-specific provision applies.
This illustrates an essential adjusting distinction. Under a named-perils form, the insured must establish that the damage resulted from one of the listed covered causes. Under an open-perils Special Form, analysis begins with broad direct physical loss coverage and then determines whether an exclusion or limitation removes the loss.
The Series 17-70 outline specifically covers Commercial Property causes-of-loss forms, exclusions, and open- versus-named-peril concepts.
Therefore, D is correct.
NEW QUESTION # 97
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