NYPCL - New york Property and Causality license exam

Question 21: During heavy rain in Brooklyn, water backs up through a basement drain and damages a finished basement. The base homeowners policy denies the claim. What would have provided coverage?

Nothing; backup is always covered

The earthquake endorsement

A water back-up and sump overflow endorsement

Scheduled personal property

Question 22: After a theft at a home in Manhattan, the insured wants to protect the right to recover under the policy. Which action is one of the insured's required duties after a loss?

Wait until renewal to report it

Repair everything before notifying anyone

Refuse to show the damaged property

Give prompt notice and notify the police

Question 23: A homeowner in Rochester carries dwelling coverage equal to at least eighty percent of the home's replacement cost. After a covered partial loss to the building, how is the loss generally settled?

At replacement cost without depreciation

Always at actual cash value

At market value of the home

At the salvage value of the parts

Question 24: A covered peril destroys an insured's ten-year-old sofa, and the policy carries no replacement-cost endorsement on contents. On what basis is the sofa paid?

Full replacement cost with no deduction

Actual cash value after depreciation

The original purchase price

The cost of a brand-new luxury sofa

Question 25: An insured deliberately burns down his own home in Yonkers, voiding his own coverage, but an innocent lender is named on the policy. How does the standard mortgage clause treat the lender?

The lender also loses all coverage

The lender is paid only for contents

The innocent lender is still paid

The lender must repay the insurer first

Question 26: A homeowner owns a valuable engagement ring and wants it fully insured with no special limit and broad protection against loss. Which endorsement best accomplishes this?

Scheduled personal property

Ordinance or law coverage

The earthquake endorsement

Loss assessment coverage

Question 27: A homeowner in Nassau County employs a full-time housekeeper who works well over forty hours each week. New York requires what kind of protection for this residence employee?

No coverage of any kind

Mandatory workers' compensation coverage

Only personal liability coverage

Flood coverage on the residence

Question 28: A business corporation in Manhattan asks to be the named insured on a personal auto policy for its company cars. Why does this generally not work?

Corporations pay higher no-fault

Personal policies have no liability part

The named insured must be an individual

Company cars cannot be insured at all

Question 29: A driver in Buffalo is at fault in a collision and injures the occupants of the other car and damages their vehicle. Which part of the personal auto policy pays those third-party claims?

Part B, Medical Payments

Part C, Uninsured Motorists

Part D, Damage to Your Auto

Part A, Liability coverage

Question 30: New York requires the owner of a registered vehicle to maintain liability insurance for the entire registration period through an authorized insurer. This requirement is part of what body of law?

The financial responsibility law

The no-fault law alone

The federal motor carrier law

The surplus lines law

Question 31: After a two-car collision in Syracuse, an injured driver wants medical bills and lost earnings paid quickly without first proving who caused the crash. Which coverage provides this?

Liability coverage on the other car

Uninsured motorist coverage

Property damage liability

New York no-fault, or PIP

Question 32: A producer explains the components of New York no-fault basic economic loss to a client. Which group of benefits does basic economic loss actually provide?

Pain and suffering damages

Medical expenses and lost earnings

Repairs to the insured's own car

Punitive damages against the other driver

Question 33: An injured New York driver collects no-fault lost-earnings benefits but notices the payment is less than full gross wages. Which statement explains the lost-earnings benefit correctly?

Full gross wages with no cap

Nothing at all for lost wages

A daily amount with no limit

A percentage up to a monthly cap

Question 34: A motorcyclist is injured in a crash in the Bronx and tries to collect no-fault benefits from an auto policy. What is the result under New York law?

Motorcyclists collect double benefits

Motorcyclists collect property damage

Motorcyclists are excluded from no-fault

Motorcyclists collect pain and suffering

Question 35: A New York insured is badly hurt by an at-fault driver who carries liability limits far lower than the insured's damages. Which optional coverage helps make up that shortfall?

Supplementary uninsured and underinsured motorists

Property damage liability

Collision coverage

Medical payments coverage

Question 36: A driver in Albany is struck by an at-fault motorist who has no insurance at all. Which mandatory New York coverage pays the insured's bodily-injury claim?

Property damage liability

Collision coverage

Uninsured motorist coverage

Loss of use coverage

Question 37: A car is stolen overnight from a street in Brooklyn. Under the physical-damage portion of the personal auto policy, which coverage pays for the theft?

Collision coverage

Comprehensive, other than collision

Liability coverage

Uninsured motorist coverage

Question 38: During a winter storm in Buffalo, a driver slides on ice and strikes a utility pole, denting the car. Which physical-damage coverage pays to repair the insured's vehicle?

Collision coverage

Comprehensive, other than collision

Property damage liability

Medical payments coverage

Question 39: Outside of no-fault, the personal auto policy includes a part that pays reasonable medical and funeral expenses for the insured and occupants, regardless of fault. Which part is that?

Part A, Liability

Part B, Medical Payments

Part C, Uninsured Motorists

Part D, Damage to Your Auto

Question 40: A New York insured already has a personal auto policy and buys a replacement car. To keep coverage on the new vehicle, what must the insured generally do?

Nothing; coverage never transfers

Buy an entirely new policy first

Notify the insurer within the required time

Wait until the policy renews

NYPCL New york Property and Causality license exam - Set 3 - Part 2

Question 21: During heavy rain in Brooklyn, water backs up through a basement drain and damages a finished basement. The base homeowners policy denies the claim. What would have provided coverage?

Question 22: After a theft at a home in Manhattan, the insured wants to protect the right to recover under the policy. Which action is one of the insured's required duties after a loss?

Question 23: A homeowner in Rochester carries dwelling coverage equal to at least eighty percent of the home's replacement cost. After a covered partial loss to the building, how is the loss generally settled?

Question 24: A covered peril destroys an insured's ten-year-old sofa, and the policy carries no replacement-cost endorsement on contents. On what basis is the sofa paid?

Question 25: An insured deliberately burns down his own home in Yonkers, voiding his own coverage, but an innocent lender is named on the policy. How does the standard mortgage clause treat the lender?

Question 26: A homeowner owns a valuable engagement ring and wants it fully insured with no special limit and broad protection against loss. Which endorsement best accomplishes this?

Question 27: A homeowner in Nassau County employs a full-time housekeeper who works well over forty hours each week. New York requires what kind of protection for this residence employee?

Question 28: A business corporation in Manhattan asks to be the named insured on a personal auto policy for its company cars. Why does this generally not work?

Question 29: A driver in Buffalo is at fault in a collision and injures the occupants of the other car and damages their vehicle. Which part of the personal auto policy pays those third-party claims?

Question 30: New York requires the owner of a registered vehicle to maintain liability insurance for the entire registration period through an authorized insurer. This requirement is part of what body of law?

Question 31: After a two-car collision in Syracuse, an injured driver wants medical bills and lost earnings paid quickly without first proving who caused the crash. Which coverage provides this?

Question 32: A producer explains the components of New York no-fault basic economic loss to a client. Which group of benefits does basic economic loss actually provide?

Question 33: An injured New York driver collects no-fault lost-earnings benefits but notices the payment is less than full gross wages. Which statement explains the lost-earnings benefit correctly?

Question 34: A motorcyclist is injured in a crash in the Bronx and tries to collect no-fault benefits from an auto policy. What is the result under New York law?

Question 35: A New York insured is badly hurt by an at-fault driver who carries liability limits far lower than the insured's damages. Which optional coverage helps make up that shortfall?

Question 36: A driver in Albany is struck by an at-fault motorist who has no insurance at all. Which mandatory New York coverage pays the insured's bodily-injury claim?

Question 37: A car is stolen overnight from a street in Brooklyn. Under the physical-damage portion of the personal auto policy, which coverage pays for the theft?

Question 38: During a winter storm in Buffalo, a driver slides on ice and strikes a utility pole, denting the car. Which physical-damage coverage pays to repair the insured's vehicle?

Question 39: Outside of no-fault, the personal auto policy includes a part that pays reasonable medical and funeral expenses for the insured and occupants, regardless of fault. Which part is that?

Question 40: A New York insured already has a personal auto policy and buys a replacement car. To keep coverage on the new vehicle, what must the insured generally do?

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