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New York Personal Lines Final Exam
2025 | Certified Exam Questions With
Correct Answers
An insured has an auto liability policy with limits of 25/50/15 The insured is
involved in an accident, caused by her negligence and is held legally liable for
bodily injuries of 3 persons. How much will her insurer pay? - Correct-answer-
$50,000
An insured hits a deer and crashes his car into a tree. The total damage to the
vehicle is $6,000. How will this loss be covered? - Correct-answer-$6,000 paid
under Other-than insurance
Which of the following types of property would be covered in homeowners
coverage forms? (1.) Structures other than a private garage, rented to others who
are not tenants of the dwelling. 2.) Animals, birds, or fish. 3.) Landlord furnishings
in an on-premise apartment. 4.) Structures used for business purposes.) - Correct-
answer-Landlord furnishings in an on-premise apartment
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Which of the following is not a characteristic of insurable risk? ( 1.) The loss must
be catastrophic. 2.) The loss must be due to chance. 3.) The loss must be
measurable in dollars. 4.) The loss exposure must be large.) - Correct-answer-The
loss must be catastrophic
What is an actuary? - Correct-answer-Someone who is an expert in economics,
statistics, and math
What is the deductible of a personal liability umbrella policy called? - Correct-
answer-The SIR
Claim related expenses, reasonable expenses incurred by an insured to protect
damaged property from further loss, or defense expenses are covered by which
part of a policy? - Correct-answer-Additional coverage
All of the following would be eligible for coverage under the dwelling policy
except (1.) A dwelling in the course of construction. 2.) A duplex with one primary
owner. 3.) A house that has 5 residential units. 4.) A tenant occupied dwelling) -
Correct-answer-A house that has 5 residential units
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All of the following are conditions commonly found in the insurance policy except:
( 1.) Subrogation, 2.) Appraisal, 3.) Insuring Agreement, 4.) Cancellation and
Nonrenewal.) - Correct-answer-Insuring agreement
Within how many years of a loss may an insured bring a lawsuit against an insurer
according to the dwelling policy? - Correct-answer-2 years
An insured has 4 separate but identical policies written by different insureds to
cover her 100,000$ building. Each policy is written for 100,000$ and each has the
pro rata liability other insurance clause. In the event of a total loss to the building
what would each insurer pay? - Correct-answer-Each policy will pay 25,000$ of
the loss.
Under the dwelling policy form, what is the maximum time limit during which
multiple volcanic activities would be considered part of one occurence? - Correct-
answer-72 hours
Under Coverage C of a homeowners policy, the amount of insurance provided to
cover personal property of the insured is - Correct-answer-50% of the amount
provided in Coverage A
New York Personal Lines Final Exam
2025 | Certified Exam Questions With
Correct Answers
An insured has an auto liability policy with limits of 25/50/15 The insured is
involved in an accident, caused by her negligence and is held legally liable for
bodily injuries of 3 persons. How much will her insurer pay? - Correct-answer-
$50,000
An insured hits a deer and crashes his car into a tree. The total damage to the
vehicle is $6,000. How will this loss be covered? - Correct-answer-$6,000 paid
under Other-than insurance
Which of the following types of property would be covered in homeowners
coverage forms? (1.) Structures other than a private garage, rented to others who
are not tenants of the dwelling. 2.) Animals, birds, or fish. 3.) Landlord furnishings
in an on-premise apartment. 4.) Structures used for business purposes.) - Correct-
answer-Landlord furnishings in an on-premise apartment
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Which of the following is not a characteristic of insurable risk? ( 1.) The loss must
be catastrophic. 2.) The loss must be due to chance. 3.) The loss must be
measurable in dollars. 4.) The loss exposure must be large.) - Correct-answer-The
loss must be catastrophic
What is an actuary? - Correct-answer-Someone who is an expert in economics,
statistics, and math
What is the deductible of a personal liability umbrella policy called? - Correct-
answer-The SIR
Claim related expenses, reasonable expenses incurred by an insured to protect
damaged property from further loss, or defense expenses are covered by which
part of a policy? - Correct-answer-Additional coverage
All of the following would be eligible for coverage under the dwelling policy
except (1.) A dwelling in the course of construction. 2.) A duplex with one primary
owner. 3.) A house that has 5 residential units. 4.) A tenant occupied dwelling) -
Correct-answer-A house that has 5 residential units
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All of the following are conditions commonly found in the insurance policy except:
( 1.) Subrogation, 2.) Appraisal, 3.) Insuring Agreement, 4.) Cancellation and
Nonrenewal.) - Correct-answer-Insuring agreement
Within how many years of a loss may an insured bring a lawsuit against an insurer
according to the dwelling policy? - Correct-answer-2 years
An insured has 4 separate but identical policies written by different insureds to
cover her 100,000$ building. Each policy is written for 100,000$ and each has the
pro rata liability other insurance clause. In the event of a total loss to the building
what would each insurer pay? - Correct-answer-Each policy will pay 25,000$ of
the loss.
Under the dwelling policy form, what is the maximum time limit during which
multiple volcanic activities would be considered part of one occurence? - Correct-
answer-72 hours
Under Coverage C of a homeowners policy, the amount of insurance provided to
cover personal property of the insured is - Correct-answer-50% of the amount
provided in Coverage A
