NEW YORK STATE PROPERTY AND
CASUALTY LICENSING EXAM
2026/2027 ACTUAL QUESTIONS
WITH VERIFIED ANSWERS.
Reporting of actions - correct answer-either taken against them
or another jurisdiction or another state must be reported within
30 days
Has assets to meet its financial obligations - correct answer-
solvent
Appointed by the governor and continues in office until the end
of the governors term
Has very broad powers, both expressed and implied with the
business of insurance,that extend to all financial service
providers
Can recommend, withdraw, or amend regulations - correct
answer-superintendent
Formed to protect policy owners, insureds, beneficiaries, and
anyone entitled to payment under an insurance policy from an
,incompetence and insolvency of insurers - correct answer-
Guarantee Association
Certificate that states that the appointed agent is trustworthy
and competent to transact insurance business - correct answer-
certificate of appointment of agent
Any coverage written on a producers own life, health, or
property, and/or that of the producers immediate family or
business associates ( cannot be above 10%)
. - correct answer-controlled business
Any inducement offered in the sale of insurance products that is
not specified in the policy - correct answer-rebating
Intended to permit the superintendent and the department to
utilize their expertise to investigate and discover insurance
frauds, halt fraudulent activities more effectively, and receive
assistance from federal and state law enforcement agencies -
correct answer-insurance frauds prevention act
, Written and or oral information regarding a consumers credit,
character, reputation, or habits collected by a reporting agency
from employment records, credit reports, and other public
sources - correct answer-consumer reports
Establishes procedures that consumer-reporting agencies must
follow in order to ensure that records are confidential, accurate,
relevant, and properly used - correct answer-Fair Credit
Reporting Act
Provides information on the consumer's character, reputation,
and habits but the information is obtained through an
investigation and interviews with associates, friends, and
neighbors of the consumer - correct answer-investigative
consumer report
Prohibited information on consumer reports - correct answer-
bankruptcies more than 10 years old, civil suits, records of
arrest or convictions of crimes, or any other negative
information that is more than 7 years old
The intentional misrepresentation or intentional concealment of
a material fact used to induce another party to make or refrain
CASUALTY LICENSING EXAM
2026/2027 ACTUAL QUESTIONS
WITH VERIFIED ANSWERS.
Reporting of actions - correct answer-either taken against them
or another jurisdiction or another state must be reported within
30 days
Has assets to meet its financial obligations - correct answer-
solvent
Appointed by the governor and continues in office until the end
of the governors term
Has very broad powers, both expressed and implied with the
business of insurance,that extend to all financial service
providers
Can recommend, withdraw, or amend regulations - correct
answer-superintendent
Formed to protect policy owners, insureds, beneficiaries, and
anyone entitled to payment under an insurance policy from an
,incompetence and insolvency of insurers - correct answer-
Guarantee Association
Certificate that states that the appointed agent is trustworthy
and competent to transact insurance business - correct answer-
certificate of appointment of agent
Any coverage written on a producers own life, health, or
property, and/or that of the producers immediate family or
business associates ( cannot be above 10%)
. - correct answer-controlled business
Any inducement offered in the sale of insurance products that is
not specified in the policy - correct answer-rebating
Intended to permit the superintendent and the department to
utilize their expertise to investigate and discover insurance
frauds, halt fraudulent activities more effectively, and receive
assistance from federal and state law enforcement agencies -
correct answer-insurance frauds prevention act
, Written and or oral information regarding a consumers credit,
character, reputation, or habits collected by a reporting agency
from employment records, credit reports, and other public
sources - correct answer-consumer reports
Establishes procedures that consumer-reporting agencies must
follow in order to ensure that records are confidential, accurate,
relevant, and properly used - correct answer-Fair Credit
Reporting Act
Provides information on the consumer's character, reputation,
and habits but the information is obtained through an
investigation and interviews with associates, friends, and
neighbors of the consumer - correct answer-investigative
consumer report
Prohibited information on consumer reports - correct answer-
bankruptcies more than 10 years old, civil suits, records of
arrest or convictions of crimes, or any other negative
information that is more than 7 years old
The intentional misrepresentation or intentional concealment of
a material fact used to induce another party to make or refrain
