No doubt the Insurance Licensing NY-Independent-General-Adjuster certification is a valuable credential that offers countless advantages to NY-Independent-General-Adjuster exam holders. Beginners and experienced professionals can validate their skills and knowledge level with the NewYorkIndependent General Adjuster (Series 17-70) NY-Independent-General-Adjuster Exam and earn solid proof of their proven skills.
| Section | Weight | Objectives |
|---|---|---|
| Insurance Regulation | - Fingerprinting - License renewal - Temporary adjuster permits - Qualifications - Licensing requirements - Licensing process - License maintenance and duration - Bond requirements | |
| Claims Adjustment Procedures | - Execution of releases - Draft authority - Advance payments - Competitive estimates - Appraisal - Negotiation - Alternative dispute resolution - Reservation of rights letters - Releases - Settlement procedures - Arbitration - Subrogation procedures - Mediation - Claims adjustment procedures - Coverage problems - Non-waiver agreements | |
| Commercial Package Policy | 38% | - Monoline versus package policies - Common policy conditions - Components of a commercial policy - Common policy declarations - First named insured |
| Commercial Property | - Commercial property coverage - Businessowners Policy - Commercial property forms and endorsements - Commercial General Liability - Commercial Package Policy | |
| New York Unfair Claim Settlement and Prohibited Practices | - New York cybersecurity regulation - Unfair claim settlement practices - Consumer privacy requirements - Terrorism Risk Insurance Act - Insurance fraud and false statements - New York claim settlement laws and regulations | |
| Dwelling and Homeowners Insurance | - Personal liability supplement - Standard Fire Policy - Homeowners liability coverage - Homeowners property coverage - Dwelling policies - New York specific endorsements - Personal umbrella policies | |
| Insurance Principles and Concepts | - Moral hazards - Fraud - Waiver and estoppel - Concealment - Hazards - Physical hazards - Insurable interest - Morale hazards - Warranties - Representations and misrepresentations - Insurance contracts - Insurance principles and concepts | |
| Other Property and Liability Coverages | - Workers compensation - Aviation insurance - Excess liability - Inland marine - Crime insurance - Commercial automobile - Surety and fidelity bonds - Ocean marine - Personal automobile - Flood insurance |
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NEW QUESTION # 94
Under a Homeowners policy, which of the following is an insured location?
Answer: D
Explanation:
The correct answer is A - Cemetery plots of any insured. The standardized Homeowners definition of
"insured location" is broader than the residence premises alone. It includes several specifically described locations connected with an insured, one of which is an individual or family cemetery plot or burial vault of an insured.
Published homeowners policy language reproduced in judicial decisions expressly lists individual or family cemetery plots or burial vaults of an insured within the definition of insured location.
An airport is not automatically an insured location merely because an insured happens to be present there.
Similarly, an office building used for business is not brought within the homeowners insured-location definition solely because an insured works there. Farmland is particularly important because homeowners wording generally includes vacant land other than farm land owned by or rented to an insured. Thus, farmland does not qualify under that provision.
The definition is especially significant for Section II liability coverage, because certain premises-related bodily injury or property damage exposures depend on whether a location qualifies as an insured location.
The official Series 17-70 outline tests Homeowners definitions, the HO-2 through HO-6 forms, Section II liability coverages, exclusions, and conditions.
Therefore, A is the only listed location expressly recognized by standard homeowners wording.
NEW QUESTION # 95
Which coverage form would a condominium unit-owner purchase?
Answer: C
Explanation:
The correct answer is D - HO-6. The HO-6 is the Homeowners Unit-Owners Form, designed specifically for an individual who owns and occupies a condominium unit. The condominium association normally carries a master property policy covering common elements and whatever portions of the building are assigned to the association under its governing documents. The individual unit owner therefore needs separate protection for personal property, personal liability, loss of use, and building items for which the unit owner is responsible.
New York DFS specifically identifies HO-6 as the condominium policy form, while ISO terminology describes HO-6 as the Unit-Owners Form. The Series 17-70 examination outline expressly requires knowledge of HO-2 through HO-6 and HO-8, including their property and liability coverages.
HO-2 and HO-3 are principally designed for owner-occupied houses. HO-4 is the Tenants Form and generally addresses renters rather than condominium unit owners. Although cooperative apartment arrangements can involve somewhat different property interests, the standardized condominium unit-owner form tested here is unequivocally HO-6.
Therefore, the appropriate form is D.
NEW QUESTION # 96
The final step of the claims process usually involves which of the following?
Answer: C
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 # 97
Under a Crop-Hail insurance policy, which of the following is true?
Answer: A
Explanation:
The correct answer is C - it covers only damage to the insured crop. Crop-Hail insurance is a specialized form of property insurance written on specifically identified growing crops. Standard crop-hail terminology defines an insured crop as a crop described in the Schedule of Insurance for which a specific amount of insurance and premium has been established. Loss adjustment therefore focuses on direct damage to the scheduled crop resulting from insured causes of loss.
Option D is incorrect because Crop-Hail is not automatically an all-weather policy. Hail is the fundamental peril, and policies commonly include or permit additional named perils such as fire or lightning. Wind protection frequently requires a separate endorsement, and frost is not universally included. Current agricultural insurance products specifically describe wind as an additional endorsement to underlying Crop- Hail coverage.
Option A is too broad because coverage does not necessarily attach simply when seed is placed in the ground; the effective date, crop condition, and applicable policy provisions govern attachment. Option B is not a universal defining rule of Crop-Hail coverage.
Crop-Hail should also be distinguished from federally supported Multiple Peril Crop Insurance, which addresses a much broader range of production risks.
Therefore, C is correct.
NEW QUESTION # 98
If a businessowner has a loss, which of the following will the insurer REQUIRE from the insured to assist in the business interruption portion of the claim?
Answer: B
Explanation:
The correct answer is A. A business interruption or Business Income claim requires documentary evidence sufficient to establish what the business would probably have earned had the covered loss not occurred.
Financial records are therefore indispensable. Relevant documentation commonly includes profit-and-loss statements, sales records, payroll information, general ledgers, prior financial statements, income-tax returns, and associated tax schedules.
The standard Business Income coverage conditions authorize the insurer, as often as reasonably required, to examine the insured's books and records and make copies. This enables the adjuster to reconstruct historical income, determine continuing and noncontinuing expenses, identify trends, evaluate the period of restoration, and calculate the actual Business Income loss.
An examination under oath can also be required during a claim investigation, but it is not the best answer to what specifically assists with the business interruption calculation. Furniture and fixture inventories principally support physical property claims. An onsite inspection likewise assists investigation but does not provide the financial evidence needed to quantify lost earnings.
The official Series 17-70 outline specifically tests Business Income/Extra Expense, Business Interruption/time element, and the insured's duty to produce books and records after loss.
NEW QUESTION # 99
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