NEW YORK STATE PROPERTY AND CASUALTY INSURANCE EXAM
QUESTIONS WITH COMPLETE SOLUTIONS GUARANTEED PASS
BRAND NEW 2025
The negligent act of the agent is imputed to the principal if the
act occurred within the course and scope of the agent's
employment. This means that the principal becomes: -
CORRECT ANSWER - >Directly liable for damages to a third
party caused by the agent (employee)..This is sometimes
referred to as "vicarious" liability.
Which of the Homeowner's polices does not include coverage
for flood? - CORRECT ANSWER - >An HO-3 Policy; A homeowner
policy specifically excludes flood coverage.
The purpose of a Medicare Supplement policy, (aka Medi Gap),
is to: - CORRECT ANSWER - >pay for services not covered by
Medicare; Medicare coverage contains deductibles and
coinsurance payments. Having a Medicare Supplement/Medi
Gap policy, offered by commercial insurers, is designed to cover
those coverage gaps.
Under the Federal Insurance Fraud and False Statements Act, if
someone is prohibited from doing business in a state, approval
to resume transacting business must be granted by: - CORRECT
ANSWER - >Insurance Regulatory Official; Only an insurance
,regulatory official, such as the Insurance Commissioner, can
grant permission to resume business.
What is not reflected in a privacy report? - CORRECT ANSWER -
>Categories of medical information; Medical information is not
a topic in a privacy report. It deals with financial issues only.
If the surviving spouse of a covered worker does not remarry,
how long are death benefits paid to the surviving spouse if the
worker is killed in a work related incident in New York? -
CORRECT ANSWER - >For life; Generally, the surviving spouse
receives benefits for the remainder of his or her life, except in
situations where they remarry. In situations where the
surviving spouse remarries, the spouse receives a lump-sum of
two years of benefits.
An insured has purchased a Medicare supplement policy from a
new insurer, replacing a policy from a previous insurer. A
"Notice of Replacement" must be provided to this individual by:
- CORRECT ANSWER - >The replacing insurer; Since this
transaction is a replacement, the insurance regulations of the
state require that the replacing insurer must provide the
applicant with a Notice of Replacement
What mandate is given in the Affordable Care Act requiring all
health plans to offer child dependency coverage to age 26? -
CORRECT ANSWER - >There is no mandate in any federal or
state law requiring employer group plans or individual health
plans to provide dependent health coverage; None. Health
, plans are not required by any law to offer dependent care
coverage. However, if a group health plan or insurer provides
coverage for children, the plan must make such coverage
available for a child until age 26.
What injury is covered under the medical payments section of
an insured's CGL policy? - CORRECT ANSWER - >A shopper is
injured while visiting a showroom owned by the insured; The
coverage excludes injuries to employees, persons participating
in an athletic event on the insured's premises and injuries to
tenants. The shopper is the only third party that would be
covered.
Which type of HMO employs its own physicians on a salary
basis? - CORRECT ANSWER - >Closed Panel; Closed panel plans
aka Staff model plans, employ physicians, nurses and other
health care professionals.
What is an example of a privately run insurers? - CORRECT
ANSWER - >The excess and surplus lines markets are privately
run insurers that usually writes risks that the standard market
does not want to write.
Which of the dwelling forms provides broad form coverage for
personal property? - CORRECT ANSWER - >DP-2 and DP-3 only;
The DP-1 provides very limited coverage for personal property.
Both the broad form (DP-2) and the special form (DP-3) provide
broad form coverage for personal property.
QUESTIONS WITH COMPLETE SOLUTIONS GUARANTEED PASS
BRAND NEW 2025
The negligent act of the agent is imputed to the principal if the
act occurred within the course and scope of the agent's
employment. This means that the principal becomes: -
CORRECT ANSWER - >Directly liable for damages to a third
party caused by the agent (employee)..This is sometimes
referred to as "vicarious" liability.
Which of the Homeowner's polices does not include coverage
for flood? - CORRECT ANSWER - >An HO-3 Policy; A homeowner
policy specifically excludes flood coverage.
The purpose of a Medicare Supplement policy, (aka Medi Gap),
is to: - CORRECT ANSWER - >pay for services not covered by
Medicare; Medicare coverage contains deductibles and
coinsurance payments. Having a Medicare Supplement/Medi
Gap policy, offered by commercial insurers, is designed to cover
those coverage gaps.
Under the Federal Insurance Fraud and False Statements Act, if
someone is prohibited from doing business in a state, approval
to resume transacting business must be granted by: - CORRECT
ANSWER - >Insurance Regulatory Official; Only an insurance
,regulatory official, such as the Insurance Commissioner, can
grant permission to resume business.
What is not reflected in a privacy report? - CORRECT ANSWER -
>Categories of medical information; Medical information is not
a topic in a privacy report. It deals with financial issues only.
If the surviving spouse of a covered worker does not remarry,
how long are death benefits paid to the surviving spouse if the
worker is killed in a work related incident in New York? -
CORRECT ANSWER - >For life; Generally, the surviving spouse
receives benefits for the remainder of his or her life, except in
situations where they remarry. In situations where the
surviving spouse remarries, the spouse receives a lump-sum of
two years of benefits.
An insured has purchased a Medicare supplement policy from a
new insurer, replacing a policy from a previous insurer. A
"Notice of Replacement" must be provided to this individual by:
- CORRECT ANSWER - >The replacing insurer; Since this
transaction is a replacement, the insurance regulations of the
state require that the replacing insurer must provide the
applicant with a Notice of Replacement
What mandate is given in the Affordable Care Act requiring all
health plans to offer child dependency coverage to age 26? -
CORRECT ANSWER - >There is no mandate in any federal or
state law requiring employer group plans or individual health
plans to provide dependent health coverage; None. Health
, plans are not required by any law to offer dependent care
coverage. However, if a group health plan or insurer provides
coverage for children, the plan must make such coverage
available for a child until age 26.
What injury is covered under the medical payments section of
an insured's CGL policy? - CORRECT ANSWER - >A shopper is
injured while visiting a showroom owned by the insured; The
coverage excludes injuries to employees, persons participating
in an athletic event on the insured's premises and injuries to
tenants. The shopper is the only third party that would be
covered.
Which type of HMO employs its own physicians on a salary
basis? - CORRECT ANSWER - >Closed Panel; Closed panel plans
aka Staff model plans, employ physicians, nurses and other
health care professionals.
What is an example of a privately run insurers? - CORRECT
ANSWER - >The excess and surplus lines markets are privately
run insurers that usually writes risks that the standard market
does not want to write.
Which of the dwelling forms provides broad form coverage for
personal property? - CORRECT ANSWER - >DP-2 and DP-3 only;
The DP-1 provides very limited coverage for personal property.
Both the broad form (DP-2) and the special form (DP-3) provide
broad form coverage for personal property.
