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| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Claims Investigation & Adjusting Procedures | 20% | - Claim intake, notice of loss, and initial investigation - Evidence gathering, coverage analysis, and policy interpretation - Settlement negotiation, reservation of rights, and denial procedures - Loss valuation, damage assessment, and estimating |
| Topic 2: New York Insurance Law & Regulations | 25% | - Licensing requirements, eligibility, and examination rules - NY Insurance Law Articles and DFS regulations - Unfair Claims Settlement Practices Act / Regulation 64 - State-specific policy provisions and mandatory endorsements |
| Topic 3: Ethics & Professional Responsibility | 15% | - Fiduciary duty, conflict of interest, and confidentiality - Fair claims handling standards and professional conduct - Fraud detection and reporting obligations |
| Topic 4: Insurance Fundamentals & General Principles | 15% | - Indemnity, subrogation, utmost good faith - Risk management and insurable interest - Insurance contract elements and legal structure |
| Topic 5: Property & Casualty Coverages | 25% | - Automobile coverages — Personal and Commercial - General Liability and Commercial General Liability - Commercial Property and Businessowners policies - Specialty lines — Inland Marine, Flood, Workers' Compensation, Crime - Dwelling and Homeowners policies |
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With each passing year, there's a slight change in the format of NY-Independent-General-Adjuster exam. Pass4sures has put in a lot of effort in bringing to you the latest NY-Independent-General-Adjuster questions, all by the current exam standards set by the Insurance Licensing. All the NewYorkIndependent General Adjuster (Series 17-70) (NY-Independent-General-Adjuster) questions have been thoroughly checked to check their validity and to make sure we provide our candidates with the updated exam content.
NEW QUESTION # 64
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 # 65
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: A
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 # 66
Which of the following benefits are NOT paid under workers' compensation laws?
Answer: D
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 # 67
Applicants for a New York public adjuster's license MUST file a bond on the condition that the applicant will faithfully perform the adjuster's duties under the license. The penal sum of the bond REQUIRED is
Answer: C
Explanation:
The verified answer is C - $1,000. New York Insurance Law §2108(l)(1) states that no adjuster's license or renewal license-other than an independent adjuster's license-may be issued unless a bond is filed with the Superintendent of Financial Services. The statute sets the required penal sum at $1,000, conditioned upon the faithful performance of the licensee's duties.
Because the question specifically concerns a public adjuster, the bond requirement applies. Public adjusters represent insureds in negotiating or effecting insurance claim settlements and are subject to distinct licensing and regulatory requirements.
The statutory wording is especially important because current New York law expressly excludes independent adjusters from this bond requirement. That distinction matters for Series 17-70 candidates, since Series 17-70 itself is the Independent General Adjuster examination, but this particular question asks about a public adjuster.
The answer shown as $10,000 in some older or secondary practice materials is not consistent with the current New York statutory requirement. The controlling figure under §2108(l) is $1,000.
Accordingly, for current New York law, the correct answer is unequivocally C - $1,000.
NEW QUESTION # 68
The final step of the claims process usually involves which of the following?
Answer: B
Explanation:
The correct answer is A. After coverage has been verified, the loss investigated, evidence gathered, damages measured, and applicable policy provisions applied, the claim normally advances to settlement and payment.
At this stage, the adjuster communicates the valuation and seeks resolution of the amount payable under the policy.
A contemporary claims-process description characterizes the final stage as arranging resolution: once damages and costs are established, the adjuster discusses settlement and arranges payment.
Option B is incorrect because a historical loss run is an underwriting or loss-history document, not a mandatory final step in settling an individual claim. Option C is also incorrect; insurers are subject to regulatory reporting requirements, but an adjuster does not ordinarily submit every final claim payment to the state insurance department as the concluding step of each claim. Option D occurs earlier. Reserves are established and modified throughout investigation as the expected claim cost becomes clearer.
The official Series 17-70 outline specifically identifies Claims Adjustment Procedures, Settlement Procedures, Negotiation, Releases, Advance Payments, Draft Authority, Appraisal, and Alternative Dispute Resolution.
Therefore, A accurately describes the normal final settlement phase.
NEW QUESTION # 69
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