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| Section | Weight | Objectives |
|---|---|---|
| Claims Adjustment Procedures | - Coverage problems - Reservation of rights letters - Competitive estimates - Negotiation - Alternative dispute resolution - Draft authority - Arbitration - Advance payments - Releases - Claims adjustment procedures - Subrogation procedures - Appraisal - Settlement procedures - Execution of releases - Mediation - Non-waiver agreements | |
| Insurance Principles and Concepts | - Insurable interest - Insurance principles and concepts - Representations and misrepresentations - Moral hazards - Morale hazards - Waiver and estoppel - Hazards - Fraud - Warranties - Physical hazards - Concealment - Insurance contracts | |
| Commercial Property | - Commercial property forms and endorsements - Businessowners Policy - Commercial property coverage - Commercial General Liability - Commercial Package Policy | |
| Dwelling and Homeowners Insurance | - Personal umbrella policies - Dwelling policies - Homeowners property coverage - Standard Fire Policy - Homeowners liability coverage - New York specific endorsements - Personal liability supplement | |
| Insurance Regulation | - Fingerprinting - Qualifications - Bond requirements - License maintenance and duration - Licensing process - Temporary adjuster permits - Licensing requirements - License renewal | |
| New York Unfair Claim Settlement and Prohibited Practices | - Terrorism Risk Insurance Act - Consumer privacy requirements - Unfair claim settlement practices - New York claim settlement laws and regulations - Insurance fraud and false statements - New York cybersecurity regulation | |
| Other Property and Liability Coverages | - Ocean marine - Aviation insurance - Flood insurance - Crime insurance - Commercial automobile - Personal automobile - Workers compensation - Surety and fidelity bonds - Excess liability - Inland marine | |
| Commercial Package Policy | 38% | - Common policy conditions - First named insured - Monoline versus package policies - Common policy declarations - Components of a commercial policy |
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NEW QUESTION # 39
Which of the following provides high-quality magnetic images of body areas without the use of ionizing radiation?
Answer: C
Explanation:
The correct answer is C - MRI. Magnetic Resonance Imaging (MRI) produces detailed images by using a powerful magnetic field, radiofrequency energy, and computer processing. Unlike conventional X-rays and computed tomography (CAT/CT), MRI does not use ionizing radiation.
The U.S. Food and Drug Administration confirms that MR images are created without ionizing radiation and notes that MRI provides especially strong soft-tissue contrast, allowing differentiation among structures such as muscle, fat, water-containing tissues, joints, the brain, and other organs.
CAT or CT scanning, option A, uses X-ray technology and therefore involves ionizing radiation.
Conventional X-rays, option D, obviously also rely on ionizing radiation. Ultrasound, option B, does not use ionizing radiation either; it uses high-frequency sound waves. However, the question specifically asks for high-quality magnetic images, which uniquely identifies MRI among the choices.
An adjuster handling accident, disability, health, or workers compensation claims must understand diagnostic terminology because medical imaging reports may establish the existence, severity, location, and causation of an alleged injury.
The Series 17-70 outline specifically tests Understanding the Language of Medical Reports, including medical terminology and abbreviations, basic anatomy, and common injuries and diseases.
NEW QUESTION # 40
Under Other States Workers' Compensation Insurance, coverage ONLY applies if the states are listed on the
Answer: D
Explanation:
The correct answer is D - declarations page. More precisely, the standard Workers Compensation and Employers Liability Policy refers to the Information Page, which performs the declarations-page function for this policy.
Under Part Three - Other States Insurance, the employer may receive workers compensation and employers liability protection in qualifying states not listed under the primary-state portion of the policy. The New York Compensation Insurance Rating Board expressly provides that states where Other States coverage is to apply must be listed in Item 3.C. of the Information Page.
Because "Information Page" is not offered among the four answer choices, declarations page is the intended and technically equivalent examination response.
Option A is incorrect because merely mentioning a state in an application does not activate contractual coverage. Option B contains the insurer's broad promise but does not identify the states selected for Other States protection. Option C is not the standard policy mechanism used for this purpose.
The Series 17-70 outline expressly includes Part Three - Other States Insurance, along with Parts One through Six of the standard Workers Compensation and Employers Liability policy.
Therefore, D is correct.
NEW QUESTION # 41
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: A
Explanation:
The verified answer is C - $1,000. New York Insurance Law ยง2108(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 ยง2108(l) is $1,000.
Accordingly, for current New York law, the correct answer is unequivocally C - $1,000.
NEW QUESTION # 42
On a Commercial General Liability claims-made policy, a claim is first made when notice of the claim is received by the insured party or the
Answer: C
Explanation:
The correct answer is A - insurer. Under standard claims-made CGL wording, a claim by a person or organization seeking damages is generally considered made when notice of the claim is received and recorded by any insured or by the insurer, whichever occurs first. Judicial decisions reproducing standard claims-made CGL language apply exactly this trigger.
This differs fundamentally from an occurrence-based CGL policy. Under an occurrence form, coverage is principally tied to when the bodily injury or property damage occurs. Under a claims-made form, the timing of the claim being made-and where required, reported-becomes a central coverage trigger. A retroactive date and applicable Extended Reporting Period may also affect whether the claim is covered.
Receipt by the injured party does not constitute the relevant claim-made trigger because the injured party is ordinarily the person asserting the claim. Likewise, receipt by the claimant's attorney does not satisfy the contractual language. An insurance agent may transmit notice, but the standardized answer asks which party, in addition to an insured, is expressly identified in the claims-made provision: the insurer.
The Series 17-70 outline specifically tests occurrence versus claims-made, claims-made and reported coverage, trigger, retroactive date, and Extended Reporting Periods.
Therefore, A is correct.
NEW QUESTION # 43
An insurance policy written on a replacement cost basis differs from a policy written on an actual cash value basis by the
Answer: C
Explanation:
The correct answer is D - method of determining a loss payment. Replacement Cost and Actual Cash Value are fundamentally loss-valuation methods. They determine how much an insurer owes after a covered physical loss, subject to policy limits, deductibles, insurance-to-value provisions, and other conditions.
New York DFS explains that where property is settled on a replacement cost basis, the insurer generally pays the amount required to repair or replace the damaged property without deducting depreciation, assuming applicable replacement-cost conditions are satisfied. By contrast, traditional actual cash value treatment takes depreciation or similar factors into account when determining the payable amount.
The distinction therefore directly affects the calculation of the claim payment. It is not determined by the original purchase price, which may bear little relationship to either current replacement cost or current value.
The deductible is a separate contractual amount applied according to policy terms and can exist under either valuation method. Premiums can certainly be influenced by the breadth and value of coverage purchased, but the defining distinction between ACV and replacement cost is not merely a premium-calculation method.
The Series 17-70 curriculum expressly tests Actual Cash Value, Replacement Cost, depreciation, valuation, and loss settlement.
Therefore, D is the precise answer.
NEW QUESTION # 44
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