New York State Property and Casualty Insurance Exam
Questions & Answers | 100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
Physical damage coverage under a garage policy is a blanket limit for
covered auto, an accurate statement? - (ANSWERS)Yes; The dealer's
physical damage limit would be done on a blanket limit basis. This would
apply to comprehensive and collision losses to the auto inventory of the
dealer. This is done because it is simply not practical to schedule each
dealer owned vehicle for physical damage. This is generally accomplished
by the use of a monthly reporting form.
An insured owns a motorcycle, a moped and a motor home. What
endorsement is added to the personal auto policy to provide coverage? -
(ANSWERS)Misc. Type Vehicle Endorsement; The "miscellaneous type
vehicle" endorsement is added for these types of recreational vehicles. Note
that ISO has a separate endorsement for snowmobiles.
Investment consultants should purchase which of the following policies to
protect themselves from errors and omissions? - (ANSWERS)Professional
Liability; Errors and omissions coverage does not involve bodily injury or
property damage, which is provided by other types of policies. This is why
professional liability coverage is needed. Medical malpractice insurance
does cover bodily injury.
The negligent act of the agent is imputed to the principal if the act occurred
within the course and scope of the agent's employment. This means that the
,New York State Property and Casualty Insurance Exam
Questions & Answers | 100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
principal becomes: - (ANSWERS)Directly liable for damages to a third
party caused by the agent (employee)..This is sometimes referred to as
"vicarious" liability.
Which of the Homeowner's polices does not include coverage for flood? -
(ANSWERS)An HO-3 Policy; A homeowner policy specifically excludes
flood coverage.
The purpose of a Medicare Supplement policy, (aka Medi Gap), is to: -
(ANSWERS)pay for services not covered by Medicare; Medicare coverage
contains deductibles and coinsurance payments. Having a Medicare
Supplement/Medi Gap policy, offered by commercial insurers, is designed
to cover those coverage gaps.
Under the Federal Insurance Fraud and False Statements Act, if someone is
prohibited from doing business in a state, approval to resume transacting
business must be granted by: - (ANSWERS)Insurance Regulatory Official;
Only an insurance regulatory official, such as the Insurance Commissioner,
can grant permission to resume business.
What is not reflected in a privacy report? - (ANSWERS)Categories of
medical information; Medical information is not a topic in a privacy report.
, New York State Property and Casualty Insurance Exam
Questions & Answers | 100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
It deals with financial issues only.
If the surviving spouse of a covered worker does not remarry, how long are
death benefits paid to the surviving spouse if the worker is killed in a work
related incident in New York? - (ANSWERS)For life; Generally, the
surviving spouse receives benefits for the remainder of his or her life,
except in situations where they remarry. In situations where the surviving
spouse remarries, the spouse receives a lump-sum of two years of benefits.
An insured has purchased a Medicare supplement policy from a new
insurer, replacing a policy from a previous insurer. A "Notice of
Replacement" must be provided to this individual by: - (ANSWERS)The
replacing insurer; Since this transaction is a replacement, the insurance
regulations of the state require that the replacing insurer must provide the
applicant with a Notice of Replacement
What mandate is given in the Affordable Care Act requiring all health plans
to offer child dependency coverage to age 26? - (ANSWERS)There is no
mandate in any federal or state law requiring employer group plans or
individual health plans to provide dependent health coverage; None. Health
plans are not required by any law to offer dependent care coverage.
However, if a group health plan or insurer provides coverage for children,
the plan must make such coverage available for a child until age 26.
Questions & Answers | 100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
Physical damage coverage under a garage policy is a blanket limit for
covered auto, an accurate statement? - (ANSWERS)Yes; The dealer's
physical damage limit would be done on a blanket limit basis. This would
apply to comprehensive and collision losses to the auto inventory of the
dealer. This is done because it is simply not practical to schedule each
dealer owned vehicle for physical damage. This is generally accomplished
by the use of a monthly reporting form.
An insured owns a motorcycle, a moped and a motor home. What
endorsement is added to the personal auto policy to provide coverage? -
(ANSWERS)Misc. Type Vehicle Endorsement; The "miscellaneous type
vehicle" endorsement is added for these types of recreational vehicles. Note
that ISO has a separate endorsement for snowmobiles.
Investment consultants should purchase which of the following policies to
protect themselves from errors and omissions? - (ANSWERS)Professional
Liability; Errors and omissions coverage does not involve bodily injury or
property damage, which is provided by other types of policies. This is why
professional liability coverage is needed. Medical malpractice insurance
does cover bodily injury.
The negligent act of the agent is imputed to the principal if the act occurred
within the course and scope of the agent's employment. This means that the
,New York State Property and Casualty Insurance Exam
Questions & Answers | 100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
principal becomes: - (ANSWERS)Directly liable for damages to a third
party caused by the agent (employee)..This is sometimes referred to as
"vicarious" liability.
Which of the Homeowner's polices does not include coverage for flood? -
(ANSWERS)An HO-3 Policy; A homeowner policy specifically excludes
flood coverage.
The purpose of a Medicare Supplement policy, (aka Medi Gap), is to: -
(ANSWERS)pay for services not covered by Medicare; Medicare coverage
contains deductibles and coinsurance payments. Having a Medicare
Supplement/Medi Gap policy, offered by commercial insurers, is designed
to cover those coverage gaps.
Under the Federal Insurance Fraud and False Statements Act, if someone is
prohibited from doing business in a state, approval to resume transacting
business must be granted by: - (ANSWERS)Insurance Regulatory Official;
Only an insurance regulatory official, such as the Insurance Commissioner,
can grant permission to resume business.
What is not reflected in a privacy report? - (ANSWERS)Categories of
medical information; Medical information is not a topic in a privacy report.
, New York State Property and Casualty Insurance Exam
Questions & Answers | 100% Verified solutions |Questions with
Correct Answers 2026 latest update!!
It deals with financial issues only.
If the surviving spouse of a covered worker does not remarry, how long are
death benefits paid to the surviving spouse if the worker is killed in a work
related incident in New York? - (ANSWERS)For life; Generally, the
surviving spouse receives benefits for the remainder of his or her life,
except in situations where they remarry. In situations where the surviving
spouse remarries, the spouse receives a lump-sum of two years of benefits.
An insured has purchased a Medicare supplement policy from a new
insurer, replacing a policy from a previous insurer. A "Notice of
Replacement" must be provided to this individual by: - (ANSWERS)The
replacing insurer; Since this transaction is a replacement, the insurance
regulations of the state require that the replacing insurer must provide the
applicant with a Notice of Replacement
What mandate is given in the Affordable Care Act requiring all health plans
to offer child dependency coverage to age 26? - (ANSWERS)There is no
mandate in any federal or state law requiring employer group plans or
individual health plans to provide dependent health coverage; None. Health
plans are not required by any law to offer dependent care coverage.
However, if a group health plan or insurer provides coverage for children,
the plan must make such coverage available for a child until age 26.
