NEW YORK STATE PROPERTY AND
CASUALTY INSURANCE EXAM 2026/2027
ACTUAL QUESTIONS WITH VERIFIED
ANSWERS.
If th einsured has to take time off work to help assist in the
investigation of the claim, the policy will pay for the actual loss
of earnings up to: - correct answer-$250 per day; the most the
policy will pay for actual loss earnings is $250 per day if the
insured is asked by the comapny to take time off of work to help
assist in the investigation and/or defense of the claim.
With a Commerical Package Policy, interline endorsements are
endorsements that: - correct answer-Could apply to more than
one coverage part; More than one line of insurance can be
written in the commercial package policy. The purpose of a
package policy is to decrease the number of forms. Interline
endorsements, such as the common provision form, would
apply to all sections of the policy, unless amended.
The "last clear chance doctrine" addresses: - correct answer-
Avoidance of the occurrence on the part of the plaintiff; the last
clear chance doctrine states in essence that if the plaintiff, by
his own negligence, places himself in a position of perl from
which he cannot ecape and the defendant sees plaintiff in
,danger or reasonably should have seen the plaintiff in danger,
but failed to exercise due care and injured the plaintiff, the
defendant is, despite plaintiff's negligence, also at fault.
What does the term "Surplus Lines Company" mean? - correct
answer-A non-admitted insurer without a certificate of authority
from the state; They are used when an insured cannot obtain
coverage in the standard markets. Coverage is placed by
surplus lines agent.
Which of the following would be covered by the advertising
injury coverage under the farm forms? - correct answer-An
insured farmer who unknowingly disparaged the crops grown
by another farm; The coverage would cover a farmer who
unknowingly disparages the crops grown by another farm.
Intentional acts, advertising incorrect prices or descriptions are
not covered.
An employee is asked to operate a piece of machinery known
to be in need of repair. The employee refuses and the employer
insists that the employee operate the machine or face being
laid off the job. The employee uses the machine and is severely
injured and loses a limb. His wife sues the employer. What
workers compensation coverage might protect the employer? -
correct answer-Employer's liability coverage would respond: the
, purpose is to cover civil suits brought either by the employer or
their dependents.
The insured carries $100,000 loss of income coverage with a
25% monthy limitation. He sustains a loss of $35,000 for the
first month and $20,000 the second month. How much will be
paid? - correct answer-$45,000; The polciy will pay $25,000 for
the first month and $20,000 for the 2nd month. The total paid
would be $45,000.
The physical damage coverage for an auto dealer's vehicle
held for sale is covered on the garage policy: - correct answer-
Blanket basis; The physical damage coverage is provided on a
blanket basis since it would be difficult to list each vehicle on
the delcarations page.
George is named insured under a claims-made CGL policy with
a retroactive date of July 1, 2005 and a policy period of Jan 1,
2011 to Jan 1, 2012. The policy was not renewed and allowed
to expire. On Feb 10, 2012 a claim made against George for
property damage that occured on Dec 31 2005. This claim: -
correct answer-Will be covered under the automatic 60-day
extendend reporting period if George has no other insurance
that applies.
CASUALTY INSURANCE EXAM 2026/2027
ACTUAL QUESTIONS WITH VERIFIED
ANSWERS.
If th einsured has to take time off work to help assist in the
investigation of the claim, the policy will pay for the actual loss
of earnings up to: - correct answer-$250 per day; the most the
policy will pay for actual loss earnings is $250 per day if the
insured is asked by the comapny to take time off of work to help
assist in the investigation and/or defense of the claim.
With a Commerical Package Policy, interline endorsements are
endorsements that: - correct answer-Could apply to more than
one coverage part; More than one line of insurance can be
written in the commercial package policy. The purpose of a
package policy is to decrease the number of forms. Interline
endorsements, such as the common provision form, would
apply to all sections of the policy, unless amended.
The "last clear chance doctrine" addresses: - correct answer-
Avoidance of the occurrence on the part of the plaintiff; the last
clear chance doctrine states in essence that if the plaintiff, by
his own negligence, places himself in a position of perl from
which he cannot ecape and the defendant sees plaintiff in
,danger or reasonably should have seen the plaintiff in danger,
but failed to exercise due care and injured the plaintiff, the
defendant is, despite plaintiff's negligence, also at fault.
What does the term "Surplus Lines Company" mean? - correct
answer-A non-admitted insurer without a certificate of authority
from the state; They are used when an insured cannot obtain
coverage in the standard markets. Coverage is placed by
surplus lines agent.
Which of the following would be covered by the advertising
injury coverage under the farm forms? - correct answer-An
insured farmer who unknowingly disparaged the crops grown
by another farm; The coverage would cover a farmer who
unknowingly disparages the crops grown by another farm.
Intentional acts, advertising incorrect prices or descriptions are
not covered.
An employee is asked to operate a piece of machinery known
to be in need of repair. The employee refuses and the employer
insists that the employee operate the machine or face being
laid off the job. The employee uses the machine and is severely
injured and loses a limb. His wife sues the employer. What
workers compensation coverage might protect the employer? -
correct answer-Employer's liability coverage would respond: the
, purpose is to cover civil suits brought either by the employer or
their dependents.
The insured carries $100,000 loss of income coverage with a
25% monthy limitation. He sustains a loss of $35,000 for the
first month and $20,000 the second month. How much will be
paid? - correct answer-$45,000; The polciy will pay $25,000 for
the first month and $20,000 for the 2nd month. The total paid
would be $45,000.
The physical damage coverage for an auto dealer's vehicle
held for sale is covered on the garage policy: - correct answer-
Blanket basis; The physical damage coverage is provided on a
blanket basis since it would be difficult to list each vehicle on
the delcarations page.
George is named insured under a claims-made CGL policy with
a retroactive date of July 1, 2005 and a policy period of Jan 1,
2011 to Jan 1, 2012. The policy was not renewed and allowed
to expire. On Feb 10, 2012 a claim made against George for
property damage that occured on Dec 31 2005. This claim: -
correct answer-Will be covered under the automatic 60-day
extendend reporting period if George has no other insurance
that applies.
