New York Personal Lines Final Exam
Questions and Verified Answers
100% Guarantee Pass
1. A passenger is injured while getting into a friends car. Which of the following
statements would apply if both the passenger and the driver had medical
payments coverage under the auto policy.
Answer: The drivers policy would be primary.
2. Adverse selection is a concept best described as:
Answer: Risks with higher probability of loss, seeking insurances more often than other risks.
3. An example of an alien insurer doing business in NY is one formed under the
laws of
Answer: Mexico
4. According to the NY motor vehicle financial responsibility law what are the
required limits of liability on auto policies issued in this state?
Answer: 25/50/10
5. Which of the following examples of losses paid under an HO-3 homeowners
,policy?
Answer: Damage to the dwelling caused by lava or dust from volcanic eruption.
6. The insureds car was hit and damaged by a deer. Under which of the following
coverages in a personal auto policy would this loss be paid?
Answer: Other-Than- Collision
7. Negligence may be defined as
Answer: The failure to use reasonable and prudent care
8. When the direct chain of events resulting from a negligent act causes injury or
damage that act is considered to be
Answer: A proximate cause
9. All of the following are major coverages included in the homeowners policy
except
Answer: Loss of income
10. Which of the following would be added for coverage under a property policy
by an endorsement?
Answer: Additional Insureds
11. Under the automobile assigned risk plan how much coverage must be pro-
vided to the insured for liability arising out of the death of two persons caused by
, a single auto accident?
Answer: Up to 100,000$
12. An insured relocated to another state for work. However, she still owns and
insures a house in this state, but has had no one living in it for 3 months. She is
also storing some of furniture and clothes in the house. From an insurance
standpoint, the insured's house is considered
Answer: Unoccupied
13. If the insured owns a watch valued at $10,000, full coverage can be provided on
a homeowners policy by purchasing the
Answer: Scheduled personal property endorsement
14. Which of the following statements is not true regarding a personal umbrella liability
policy?
Answer: It provides errors and ommissions coverage for an agency
15. What is not part of the policy structure?
Answer: provisions
Questions and Verified Answers
100% Guarantee Pass
1. A passenger is injured while getting into a friends car. Which of the following
statements would apply if both the passenger and the driver had medical
payments coverage under the auto policy.
Answer: The drivers policy would be primary.
2. Adverse selection is a concept best described as:
Answer: Risks with higher probability of loss, seeking insurances more often than other risks.
3. An example of an alien insurer doing business in NY is one formed under the
laws of
Answer: Mexico
4. According to the NY motor vehicle financial responsibility law what are the
required limits of liability on auto policies issued in this state?
Answer: 25/50/10
5. Which of the following examples of losses paid under an HO-3 homeowners
,policy?
Answer: Damage to the dwelling caused by lava or dust from volcanic eruption.
6. The insureds car was hit and damaged by a deer. Under which of the following
coverages in a personal auto policy would this loss be paid?
Answer: Other-Than- Collision
7. Negligence may be defined as
Answer: The failure to use reasonable and prudent care
8. When the direct chain of events resulting from a negligent act causes injury or
damage that act is considered to be
Answer: A proximate cause
9. All of the following are major coverages included in the homeowners policy
except
Answer: Loss of income
10. Which of the following would be added for coverage under a property policy
by an endorsement?
Answer: Additional Insureds
11. Under the automobile assigned risk plan how much coverage must be pro-
vided to the insured for liability arising out of the death of two persons caused by
, a single auto accident?
Answer: Up to 100,000$
12. An insured relocated to another state for work. However, she still owns and
insures a house in this state, but has had no one living in it for 3 months. She is
also storing some of furniture and clothes in the house. From an insurance
standpoint, the insured's house is considered
Answer: Unoccupied
13. If the insured owns a watch valued at $10,000, full coverage can be provided on
a homeowners policy by purchasing the
Answer: Scheduled personal property endorsement
14. Which of the following statements is not true regarding a personal umbrella liability
policy?
Answer: It provides errors and ommissions coverage for an agency
15. What is not part of the policy structure?
Answer: provisions
