Fall Semester 2026–2027 17-70 – NY Independent General
Adjuster License Updated 2026 | 190+ Questions and
Answers | New York 17-70 Independent General Adjuster
Licensing Exam Prep, Comprehensive Study Guide,
Practice Exam, Test Bank, Property & Casualty Insurance,
Claims Investigation, Policy Interpretation, Loss
Adjustment, Property Damage Assessment, Liability
Claims, New York Insurance Law, Ethics, Fraud
Prevention, Settlement Procedures, Detailed Rationales
and Complete Revision Material
Question 1: What is the minimum age requirement for an individual applicant
to obtain an independent adjuster's license in New York?
A. 18 years of age
B. 21 years of age
C. 25 years of age
D. No age requirement
CORRECT ANSWER: A. 18 years of age
Rationale: According to New York Insurance Law Section 2108(c)(3), every individual
applicant for a license under this section and every proposed sub-licensee must be
eighteen years of age or over at the time of the issuance of such license .
Question 2: Which entity is responsible for administering the New York
Independent General Adjuster (Series 17-70) licensing examination?
A. New York State Department of Financial Services (DFS)
B. PSI Exams Online
C. National Association of Insurance Commissioners (NAIC)
D. AE21 Incorporated
CORRECT ANSWER: B. PSI Exams Online
Rationale: As of March 2019, PSI Exams Online became the testing provider for New
York. Candidates must create an account on their website, pay the exam fee, and
schedule the time, date, and location to take the exam in person at a PSI testing center .
Question 3: How many questions are on the New York Independent General
Adjuster (Series 17-70) licensing exam?
A. 50 questions
B. 75 questions
C. 100 questions
D. 150 questions
CORRECT ANSWER: C. 100 questions
Rationale: The exam consists of 100 questions, and candidates are given 2 hours to
complete it .
,Question 4: What is the passing score required for the New York Independent
General Adjuster (Series 17-70) licensing exam?
A. 60%
B. 65%
C. 70%
D. 75%
CORRECT ANSWER: C. 70%
Rationale: Candidates must score at least 70% to pass the exam. Those who score below
70% will need to retake the exam and pay the fees again .
Question 5: What is the primary purpose of the $1,000 surety bond required
for New York independent adjusters?
A. To provide the adjuster with operating capital
B. To ensure the adjuster faithfully executes their duties and to protect the state against
fraudulent behavior
C. To cover the cost of the licensing application fee
D. To pay for the adjuster's errors and omissions insurance
CORRECT ANSWER: B. To ensure the adjuster faithfully executes their duties
and to protect the state against fraudulent behavior
Rationale: The $1,000 surety bond helps ensure the individual faithfully executes their
duties as an insurance adjuster. If an adjuster is found guilty of fraudulent behavior, the
state may recover any necessary amount from the bond .
Question 6: According to New York Insurance Law, how many Certificates of
Character must be submitted with an independent adjuster license
application?
A. Three
B. Five
C. Seven
D. Ten
CORRECT ANSWER: B. Five
Rationale: Applicants must provide five Certificates of Character from individuals who
have known the applicant personally for at least five years and can vouch for their
character and standing in the community .
Question 7: A licensed New York independent adjuster's license is valid for
how long?
A. One year
B. Two years
C. Three years
D. Four years
,CORRECT ANSWER: B. Two years
Rationale: The New York independent adjuster license is valid for two years. It expires
on December 31 in each even-numbered year .
Question 8: Which of the following is a requirement for an individual to be
deemed qualified to take the 17-70 examination under recent legislative
amendments?
A. Possess a minimum of two years of college education
B. Possess a minimum of one year's experience in the insurance business
C. Be sponsored by a licensed insurance company
D. Have previously held an adjuster license in another state
CORRECT ANSWER: B. Possess a minimum of one year's experience in the
insurance business
Rationale: An individual shall not be deemed qualified to take the examination without
demonstrating to the Superintendent's satisfaction that they possess a minimum of one
year's experience in the insurance business (in sales, underwriting, claims, or other
sufficient experience) or successfully completed forty hours of formal training in an
approved course .
Question 9: What is the fee for the New York independent adjuster licensing
application?
A. $33
B. $50
C. $100
D. $150
CORRECT ANSWER: C. $100
Rationale: The licensing fee for the independent adjuster application is $100, payable by
check to the "Superintendent of Financial Services" .
Question 10: Which New York regulation addresses cybersecurity
requirements for financial services companies, including insurance licensees?
A. Regulation 64
B. Regulation 169
C. Regulation 23
D. Regulation 25
CORRECT ANSWER: C. Regulation 23
Rationale: The exam content outline lists "Cyber Security Requirements for Financial
Services Companies" under Regulation 23 as part of the Insurance Regulation section .
Question 11: In the context of insurance contracts, what is the doctrine of
"utmost good faith"?
, A. The insurer must always pay claims regardless of policy terms
B. Both parties to the contract must act honestly and disclose all material facts
C. The insured must accept any settlement offer made by the insurer
D. The adjuster has the final authority to interpret policy language
CORRECT ANSWER: B. Both parties to the contract must act honestly and
disclose all material facts
Rationale: Utmost good faith (uberrima fides) is a fundamental principle of insurance
contracts requiring both the insured and the insurer to act with complete honesty and
disclose all material facts relevant to the risk. This principle underlies representations,
warranties, and concealment doctrines .
Question 12: What is the definition of "Actual Cash Value" (ACV) in property
insurance?
A. The original purchase price of the property
B. The cost to replace the property with new materials of like kind and quality
C. Replacement cost minus depreciation
D. The market value of the property at the time of loss
CORRECT ANSWER: C. Replacement cost minus depreciation
Rationale: Actual Cash Value (ACV) is typically calculated as the replacement cost of the
property minus physical depreciation. It represents the current value of the property at
the time of loss, considering age, wear and tear, and obsolescence .
Question 13: What is a "moral hazard" in the context of insurance?
A. A physical condition that increases the chance of loss
B. An increase in risk due to an insured's character, habits, or dishonest tendencies
C. The likelihood of a loss occurring due to natural disasters
D. A hazard that is morally acceptable to insure
CORRECT ANSWER: B. An increase in risk due to an insured's character,
habits, or dishonest tendencies
Rationale: Moral hazard refers to a subjective hazard that arises from the character,
habits, or dishonest tendencies of the insured. It can lead to a higher probability of loss
because the insured might be less careful or could be tempted to commit fraud. This is
distinct from physical hazards like slippery floors .
Question 14: Which of the following is an example of a "named peril" policy?
A. A policy that covers all causes of loss except those specifically excluded
B. A policy that covers only losses caused by perils explicitly listed in the policy
C. A policy that covers only liability claims
D. A policy that covers all perils for a named location
CORRECT ANSWER: B. A policy that covers only losses caused by perils
explicitly listed in the policy
Adjuster License Updated 2026 | 190+ Questions and
Answers | New York 17-70 Independent General Adjuster
Licensing Exam Prep, Comprehensive Study Guide,
Practice Exam, Test Bank, Property & Casualty Insurance,
Claims Investigation, Policy Interpretation, Loss
Adjustment, Property Damage Assessment, Liability
Claims, New York Insurance Law, Ethics, Fraud
Prevention, Settlement Procedures, Detailed Rationales
and Complete Revision Material
Question 1: What is the minimum age requirement for an individual applicant
to obtain an independent adjuster's license in New York?
A. 18 years of age
B. 21 years of age
C. 25 years of age
D. No age requirement
CORRECT ANSWER: A. 18 years of age
Rationale: According to New York Insurance Law Section 2108(c)(3), every individual
applicant for a license under this section and every proposed sub-licensee must be
eighteen years of age or over at the time of the issuance of such license .
Question 2: Which entity is responsible for administering the New York
Independent General Adjuster (Series 17-70) licensing examination?
A. New York State Department of Financial Services (DFS)
B. PSI Exams Online
C. National Association of Insurance Commissioners (NAIC)
D. AE21 Incorporated
CORRECT ANSWER: B. PSI Exams Online
Rationale: As of March 2019, PSI Exams Online became the testing provider for New
York. Candidates must create an account on their website, pay the exam fee, and
schedule the time, date, and location to take the exam in person at a PSI testing center .
Question 3: How many questions are on the New York Independent General
Adjuster (Series 17-70) licensing exam?
A. 50 questions
B. 75 questions
C. 100 questions
D. 150 questions
CORRECT ANSWER: C. 100 questions
Rationale: The exam consists of 100 questions, and candidates are given 2 hours to
complete it .
,Question 4: What is the passing score required for the New York Independent
General Adjuster (Series 17-70) licensing exam?
A. 60%
B. 65%
C. 70%
D. 75%
CORRECT ANSWER: C. 70%
Rationale: Candidates must score at least 70% to pass the exam. Those who score below
70% will need to retake the exam and pay the fees again .
Question 5: What is the primary purpose of the $1,000 surety bond required
for New York independent adjusters?
A. To provide the adjuster with operating capital
B. To ensure the adjuster faithfully executes their duties and to protect the state against
fraudulent behavior
C. To cover the cost of the licensing application fee
D. To pay for the adjuster's errors and omissions insurance
CORRECT ANSWER: B. To ensure the adjuster faithfully executes their duties
and to protect the state against fraudulent behavior
Rationale: The $1,000 surety bond helps ensure the individual faithfully executes their
duties as an insurance adjuster. If an adjuster is found guilty of fraudulent behavior, the
state may recover any necessary amount from the bond .
Question 6: According to New York Insurance Law, how many Certificates of
Character must be submitted with an independent adjuster license
application?
A. Three
B. Five
C. Seven
D. Ten
CORRECT ANSWER: B. Five
Rationale: Applicants must provide five Certificates of Character from individuals who
have known the applicant personally for at least five years and can vouch for their
character and standing in the community .
Question 7: A licensed New York independent adjuster's license is valid for
how long?
A. One year
B. Two years
C. Three years
D. Four years
,CORRECT ANSWER: B. Two years
Rationale: The New York independent adjuster license is valid for two years. It expires
on December 31 in each even-numbered year .
Question 8: Which of the following is a requirement for an individual to be
deemed qualified to take the 17-70 examination under recent legislative
amendments?
A. Possess a minimum of two years of college education
B. Possess a minimum of one year's experience in the insurance business
C. Be sponsored by a licensed insurance company
D. Have previously held an adjuster license in another state
CORRECT ANSWER: B. Possess a minimum of one year's experience in the
insurance business
Rationale: An individual shall not be deemed qualified to take the examination without
demonstrating to the Superintendent's satisfaction that they possess a minimum of one
year's experience in the insurance business (in sales, underwriting, claims, or other
sufficient experience) or successfully completed forty hours of formal training in an
approved course .
Question 9: What is the fee for the New York independent adjuster licensing
application?
A. $33
B. $50
C. $100
D. $150
CORRECT ANSWER: C. $100
Rationale: The licensing fee for the independent adjuster application is $100, payable by
check to the "Superintendent of Financial Services" .
Question 10: Which New York regulation addresses cybersecurity
requirements for financial services companies, including insurance licensees?
A. Regulation 64
B. Regulation 169
C. Regulation 23
D. Regulation 25
CORRECT ANSWER: C. Regulation 23
Rationale: The exam content outline lists "Cyber Security Requirements for Financial
Services Companies" under Regulation 23 as part of the Insurance Regulation section .
Question 11: In the context of insurance contracts, what is the doctrine of
"utmost good faith"?
, A. The insurer must always pay claims regardless of policy terms
B. Both parties to the contract must act honestly and disclose all material facts
C. The insured must accept any settlement offer made by the insurer
D. The adjuster has the final authority to interpret policy language
CORRECT ANSWER: B. Both parties to the contract must act honestly and
disclose all material facts
Rationale: Utmost good faith (uberrima fides) is a fundamental principle of insurance
contracts requiring both the insured and the insurer to act with complete honesty and
disclose all material facts relevant to the risk. This principle underlies representations,
warranties, and concealment doctrines .
Question 12: What is the definition of "Actual Cash Value" (ACV) in property
insurance?
A. The original purchase price of the property
B. The cost to replace the property with new materials of like kind and quality
C. Replacement cost minus depreciation
D. The market value of the property at the time of loss
CORRECT ANSWER: C. Replacement cost minus depreciation
Rationale: Actual Cash Value (ACV) is typically calculated as the replacement cost of the
property minus physical depreciation. It represents the current value of the property at
the time of loss, considering age, wear and tear, and obsolescence .
Question 13: What is a "moral hazard" in the context of insurance?
A. A physical condition that increases the chance of loss
B. An increase in risk due to an insured's character, habits, or dishonest tendencies
C. The likelihood of a loss occurring due to natural disasters
D. A hazard that is morally acceptable to insure
CORRECT ANSWER: B. An increase in risk due to an insured's character,
habits, or dishonest tendencies
Rationale: Moral hazard refers to a subjective hazard that arises from the character,
habits, or dishonest tendencies of the insured. It can lead to a higher probability of loss
because the insured might be less careful or could be tempted to commit fraud. This is
distinct from physical hazards like slippery floors .
Question 14: Which of the following is an example of a "named peril" policy?
A. A policy that covers all causes of loss except those specifically excluded
B. A policy that covers only losses caused by perils explicitly listed in the policy
C. A policy that covers only liability claims
D. A policy that covers all perils for a named location
CORRECT ANSWER: B. A policy that covers only losses caused by perils
explicitly listed in the policy
