10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The NY P&C exam has 150 questions and runs 2 hours 30 minutes.
These 10 free NY P&C questions are organized by exam domain, so you can see how each part of the New York Property & Casualty Insurance Agent/Broker Exam blueprint is tested. Reveal the answer and explanation under each question.
A New York property/casualty broker receives a favorable quote for a client's new warehouse policy. The insurer has never granted the broker binding authority, but the client asks the broker to make coverage effective immediately. What is the broker's proper response?
Correct answer: B - Obtain an insurer-issued binder or actual binding authority first
An electrical contractor's project owner demands a certificate showing the owner as an additional insured and stating that the CGL policy waives subrogation. Neither benefit exists in the policy. What may the producer properly do?
Correct answer: D - Arrange approved endorsements, then issue a certificate reflecting the amended policy
A commercial insurer applies an experience-rating factor of 0.78 to a manual premium after determining that the insured's own loss experience is better than expected. Ignoring other adjustments, how should the factor be interpreted?
Correct answer: A - The premium becomes 78% of manual premium, producing a 22% credit
During a post-loss investigation, an insurer proves that the applicant intentionally omitted three prior arson losses. The fact was material: had it been disclosed, the insurer would not have issued the policy. Which remedy most directly treats the contract as never having taken effect?
Correct answer: C - Rescission from inception
At the time of a covered fire, a commercial building's replacement value is $1,000,000. The policy has an 80% coinsurance clause, a $600,000 limit, and a $5,000 deductible. The covered partial loss is $200,000. Ignoring any other limits, what is the insurer's payment?
Correct answer: D - $145,000
An owner intentionally burns an insured building. The mortgagee had no knowledge of the act, paid any premium demanded, submitted proof of loss, and reported all known occupancy changes. The policy contains a standard mortgage clause. Which result is most accurate?
Correct answer: B - The mortgagee may recover to the extent of its interest even though the owner cannot
A New York jury awards $250,000 in compensatory damages and finds the claimant 80% at fault. No policy limit or other reduction applies. Under New York pure comparative negligence, how much may the claimant recover?
Correct answer: C - $50,000
A landlord insures a two-family rental dwelling under a DP-3. A covered fire makes one unit unfit for four months, and the tenant stops paying rent. The landlord lives elsewhere and incurs no extra household expense. Which coverage addresses the lost rental income, less expenses that do not continue?
Correct answer: A - Coverage D - Fair Rental Value
A condominium unit owner is responsible under the bylaws for interior fixtures, built-in appliances, and improvements inside the unit. The association insures the common elements. Which homeowners form is designed for the unit owner's property and liability needs?
Correct answer: B - HO-6 Unit-Owners
A thief steals an unscheduled $8,000 diamond ring from an HO-3 residence. The Coverage C limit is adequate, no deductible applies, and no endorsement changes the standard 2011-style special limits. What is the maximum payable for the ring?
Correct answer: D - $1,500
The NY P&C exam also covers these domains. Drill them in the full free practice test:
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