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| Section | Weight | Objectives |
|---|---|---|
| Insurance Fundamentals & General Principles | 15% | - Insurance contract elements and legal structure - Indemnity, subrogation, utmost good faith - Risk management and insurable interest |
| Ethics & Professional Responsibility | 15% | - Fraud detection and reporting obligations - Fiduciary duty, conflict of interest, and confidentiality - Fair claims handling standards and professional conduct |
| Property & Casualty Coverages | 25% | - Automobile coverages — Personal and Commercial - Commercial Property and Businessowners policies - Specialty lines — Inland Marine, Flood, Workers' Compensation, Crime - General Liability and Commercial General Liability - Dwelling and Homeowners policies |
| New York Insurance Law & Regulations | 25% | - State-specific policy provisions and mandatory endorsements - Unfair Claims Settlement Practices Act / Regulation 64 - Licensing requirements, eligibility, and examination rules - NY Insurance Law Articles and DFS regulations |
| Claims Investigation & Adjusting Procedures | 20% | - Evidence gathering, coverage analysis, and policy interpretation - Loss valuation, damage assessment, and estimating - Claim intake, notice of loss, and initial investigation - Settlement negotiation, reservation of rights, and denial procedures |
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NEW QUESTION # 29
Homeowner Policies exclude coverage for
Answer: C
Explanation:
The correct answer is A. Standard homeowners property forms contain a broad earth movement exclusion, encompassing events such as earthquake, landslide, mudslide, earth sinking, rising, or shifting, subject to the precise policy wording and any endorsements purchased. Earthquake coverage ordinarily requires a separate endorsement or policy. The Series 17-70 examination outline specifically requires knowledge of Homeowners Policy additional coverages, perils insured against, exclusions, conditions, and selected endorsements, including an earthquake endorsement.
The remaining choices describe protections commonly appearing as Additional Coverages rather than general exclusions. Debris Removal reimburses reasonable expenses for removing debris of covered property following a covered cause of loss. Insurance-regulator guidance confirms debris removal is ordinarily incorporated into homeowners coverage when the underlying damage results from an insured peril.
Likewise, Property Removed protects covered property against direct loss while it is being removed from endangered premises to safeguard it from an insured peril, subject to the form's time limitations. Fire Department Service Charge provides a specified additional amount when an insured incurs a contractual fire- department service charge. These provisions are standard examples of homeowners additional coverages.
Therefore, among the four choices, earth movement is the excluded cause of loss.
NEW QUESTION # 30
What is the MINIMUM dollar limit that applies to Workers' Compensation Coverage under Part One of the policy?
Answer: B
Explanation:
The correct answer is C. Part One - Workers Compensation Insurance does not operate with a conventional policy liability limit such as $100,000 or $500,000. Instead, the insurer agrees to pay the workers' compensation benefits that the employer is required to provide under the workers' compensation law applicable to a state listed in the policy.
The New York Compensation Insurance Rating Board states this directly: there is no limit of liability in the Standard Policy for Part One - Workers' Compensation; the contract provides all benefits required by the applicable workers' compensation law.
Options A and B are therefore incorrect because they resemble liability-limit amounts rather than statutory Workers Compensation Part One benefits. Option D is also incorrect. The Information Page identifies the relevant states and other policy data, but it does not transform Part One into a fixed-dollar-limit coverage.
This must also be distinguished from Part Two - Employers Liability Insurance, where limits of liability are relevant. New York has additional state-specific rules concerning employers liability, but those should not be confused with the statutory-benefit structure of Part One.
The Series 17-70 outline expressly tests the Workers Compensation and Employers Liability policy, including Part One-Workers Compensation Insurance and Part Two-Employers Liability Insurance.
Therefore, C is correct.
NEW QUESTION # 31
An insurance licensee must do all of the following in order to renew the insurance license EXCEPT
Answer: D
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 # 32
Accident-only policies commonly include benefits due to losses related to
Answer: A
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 # 33
What may the insurer issue if the insured did NOT report a claim on time?
Answer: C
Explanation:
The correct answer is B - Reservation of rights letter. When an insurer receives a claim presenting a potential coverage problem-such as allegedly late notice-the insurer may investigate while expressly reserving its rights under the policy. A reservation of rights advises the insured that participation in investigation or adjustment should not be interpreted as a waiver of the insurer's potential coverage defenses.
New York cases illustrate the use of reservations specifically involving late-notice issues. For example, an insurer may identify the policy's prompt-notice requirement and preserve the right to rely on untimely notice while obtaining the information necessary to determine its coverage position.
A declaratory judgment, option A, is a court determination, not simply a document the insurer "issues." The insurer may bring a declaratory judgment action when a coverage controversy requires judicial resolution.
Option C is not the appropriate mechanism. Option D is overly broad; late reporting does not automatically authorize the insurer to deny every claim without analysis of the applicable policy and New York law.
A critical New York distinction is that a reservation of rights is not automatically a substitute for a legally required timely disclaimer where Insurance Law requirements apply.
The Series 17-70 outline expressly tests Coverage Problems, Reservation of Rights Letter, Non-Waiver Agreement, and Declaratory Judgment Action.
NEW QUESTION # 34
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