NYPCL New york Property and Causality license exam - Set 5 - Part 2
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 21: An employer is sued by a former worker alleging discrimination, harassment, and wrongful termination. Which policy is essentially the only common commercial form that covers discrimination claims?
Question 22: A New York risk is so hazardous that admitted insurers will not write the full amount needed. Through a specially licensed broker it is placed with an unauthorized insurer. This is called what?
Question 23: Before exporting a New York risk to an unauthorized insurer, the excess line broker must generally show the coverage was unavailable from the admitted market. New York's standard requires what?
Question 24: A New York client buys excess line coverage from an unauthorized insurer. The broker must give a disclosure warning the client about which key loss of protection?
Question 25: In a surety bond on a construction project, the contractor required to post the bond and obligated to perform the work occupies which role?
Question 26: A contractor submits a bid on a public project. A bond accompanying the bid guarantees that, if the low bid is accepted, the contractor will sign the contract. Which bond is this?
Question 27: On an ocean marine policy, one coverage insures the legal liabilities of the vessel owner, such as collision liability and bodily injury. Which of the four major coverages is this?
Question 28: During a storm, a captain deliberately throws part of the cargo overboard to save the ship and the remaining cargo. The resulting loss is shared by all interests. This is called what?
Question 29: A collector wants coverage for valuable jewelry and fine art that follows the items wherever they go, on an open-peril basis. Which kind of coverage best fits this movable property?
Question 30: An insured asks about flood coverage for a home near a low-lying creek in the Hudson Valley. The standard dwelling and homeowners policies treat the flood peril how?
Question 31: A private insurer issues a flood policy under its own name, but the federal program sets the rates and rules and bears the loss risk. This is called what?
Question 32: An owner asks how the National Flood Insurance Program limits coverage on a one-to-four-family home. How does the program cap the building and the contents coverage?
Question 33: After a flood, a local ordinance requires an owner to elevate the damaged building to comply with floodplain rules. Which National Flood Insurance Program coverage helps pay for that mandated work?
Question 34: The New York Property Insurance Underwriting Association provides basic property coverage to applicants the voluntary market will not write. By what name is this residual mechanism commonly known?
Question 35: For Long Island coastal homeowners who struggle to find wind coverage, a voluntary network run by the FAIR Plan helps match them with willing insurers. What is this program called?
Question 36: A homeowner's small canoe and a low-value rowboat fall under the homeowners policy, but a large, powerful boat does not. What does the owner of the larger boat need?
Question 37: A Staten Island resident buys coverage that reimburses the expenses of restoring his identity and credit after a thief misuses his personal information. Which coverage is this?
Question 38: A bakery owner wants protection against an employee secretly stealing money from the register. Unlike a surety bond, which product is purchased by the employer to cover employee dishonesty?
Question 39: A policy pays the insured a fixed monthly cash benefit when injury or sickness prevents the insured from working, rather than paying any doctor or hospital. Which coverage is this?
Question 40: A disability income policy defines total disability so that the insured is disabled only if unable to perform the duties of any occupation for which they are reasonably suited. This definition is called what?
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