NY INDEPENDENT GENERAL ADJUSTER
SERIES 17 70 PRACTICE TEST PAPER 2026
TESTED QUESTIONS WITH FULL SOLUTION
VERIFIED GRADED A+
⩥ If the Superintendent requests information during an examination or
investigation and a person does not respond within ____ days, he or she
may impose a penalty of up to $500 per day (not more than $10,000
total) for each day the person fails to respond.
Answer: 15
⩥ If the Superintendent imposes five separate penalties against a person
within five years for failing to respond to his or her inquiries, the
Superintendent may levy an additional penalty of up to _________.
Answer: $50,000
⩥ To qualify for a certificate of authority, a mutual insurer must show
that it:
Answer: (1) maintains the required surplus to fulfill its obligations to
policyholders;
(2) has the required number of applications for insurance;
,(3) has a genuine membership list; and
(4) has received premiums from members and will issue policies within
60 days after receiving a certificate of authority.
⩥ A producer's appointment of an agent remains in effect until
Answer: (1) terminated by the insurer;
(2) the producer's license is suspended or revoked; or
(3) the producer's license expires and is not renewed.
⩥ Controlled business
Answer: insurance that is written primarily on the lives, property, or
risks of the licensee or of the licensee's family members, employer, or
business associates.
⩥ Agents and brokers must maintain records showing receipts and
disbursements for each premium account. These records must identify:
Answer: (1) the date and amount of each transaction
(2) the name of the insured and insurer
, (3) the policy binder number
(4) the type of risk involved
⩥ Insurers must keep records of:
Answer: (1) insurance policies, for six years after the date a policy is no
longer is in force or until the next examination report, whichever period
is longer
(2) applications when a policy is not issued, for six years or until the
next examination report, whichever period is longer
(3) claim files, for six years after a claim is resolved or until the next
examination report, whichever period is longer
⩥ An insurer's records retention plan must describe:
Answer: (1) the types of records retained
(2) the retention method used
(3) the safeguards established to prevent the alteration of records
SERIES 17 70 PRACTICE TEST PAPER 2026
TESTED QUESTIONS WITH FULL SOLUTION
VERIFIED GRADED A+
⩥ If the Superintendent requests information during an examination or
investigation and a person does not respond within ____ days, he or she
may impose a penalty of up to $500 per day (not more than $10,000
total) for each day the person fails to respond.
Answer: 15
⩥ If the Superintendent imposes five separate penalties against a person
within five years for failing to respond to his or her inquiries, the
Superintendent may levy an additional penalty of up to _________.
Answer: $50,000
⩥ To qualify for a certificate of authority, a mutual insurer must show
that it:
Answer: (1) maintains the required surplus to fulfill its obligations to
policyholders;
(2) has the required number of applications for insurance;
,(3) has a genuine membership list; and
(4) has received premiums from members and will issue policies within
60 days after receiving a certificate of authority.
⩥ A producer's appointment of an agent remains in effect until
Answer: (1) terminated by the insurer;
(2) the producer's license is suspended or revoked; or
(3) the producer's license expires and is not renewed.
⩥ Controlled business
Answer: insurance that is written primarily on the lives, property, or
risks of the licensee or of the licensee's family members, employer, or
business associates.
⩥ Agents and brokers must maintain records showing receipts and
disbursements for each premium account. These records must identify:
Answer: (1) the date and amount of each transaction
(2) the name of the insured and insurer
, (3) the policy binder number
(4) the type of risk involved
⩥ Insurers must keep records of:
Answer: (1) insurance policies, for six years after the date a policy is no
longer is in force or until the next examination report, whichever period
is longer
(2) applications when a policy is not issued, for six years or until the
next examination report, whichever period is longer
(3) claim files, for six years after a claim is resolved or until the next
examination report, whichever period is longer
⩥ An insurer's records retention plan must describe:
Answer: (1) the types of records retained
(2) the retention method used
(3) the safeguards established to prevent the alteration of records
