PSI Online Examination NY Insurance Property and Casualty Practice Test 2025/2026 ACCURATE QUESTIONS WITH CORRECT DETAILED ANSWERS || 100% GUARANTEED PASS <LATEST VERSION>

PSI Online Examination NY Insurance Property and Casualty Practice Test 2025/2026 ACCURATE QUESTIONS WITH CORRECT DETAILED ANSWERS || 100% GUARANTEED PASS &lt;LATEST VERSION&gt; 1. The Cause of Loss form for farm property lists which of the following? a. the type of property insured b. the amount of insurance provided c. perils property is insured against d. exclusions to named insureds - ANSWER c. perils property is insured against 2. A woman slips on icy steps and breaks her leg. Which of the following is the peril in this situation? a. the fall b. the icy steps c. the broken leg d. the season of the year - ANSWER a. the fall 3. Federal crop insurance is a type of insurance sometimes called which one of the following? a. voluntary private insurance b. special broadened forms insurance c. national association coverage insurance d. residual market insurance - ANSWER d. residual market insurance 4. All of the following are the most commonly used personal inland marine forms EXCEPT? a. personal property form b. personal articles form c. builder's floater form d. personal effects form - ANSWER c. builder's floater form 5. Which document would a lender ask an insured for as evidence that a policy has been written? a. certificate b. declarations c. endorsement d. policy - ANSWER a. certificate 6. All of the following would be considered an insured person under Part A of a personal automobile policy EXCEPT a. other persons or organizations that use the car to the extent that they share liability with the insured person b. anyone using the insured's car with the insured's permission or the reasonable belief that they are entitled to do so c. the named insured and members of the insured's family for the ownership, maintenance and use of any auto or trailer d. other persons or organizations for their liability from an accident involving an auto or trailer used by the insured but owned by that person or organization - ANSWER d. other persons or organizations for their liability from an accident involving an auto or trailer used by the insured but owned by that person or organization 7. Liability arising out of any of the following is excluded from the personal and advertising injury liability coverage EXCEPT? a. unknowingly inflicting injury that violates the rights of another b. oral or written publication of material that the insured knows is false c. criminal acts committed by or at the direction of the insured d. failure of goods or products to conform with advertised quality - ANSWER a. unknowingly inflicting injury that violates the rights of another 8. Absolute liability can be imposed by law and exist in the absence of which of the following? a. third party liability b. hazardous operations c. products liability d. negligence - ANSWER d. negligence 9. which of the following characteristics of an insurance contract expresses the principle that the policyholder is returned to the approximate financial condition as before the loss? a. indemnity b. risk transfer c. insurance d. risk reduction - ANSWER a. indemnity 10. Which of the following persons is covered for accidental injury on the insured's premises under the commercial general liability medical payments? a. a tenant of the premises b. an employee of the insured c. person injured in warfare d. a volunteer worker - ANSWER d. a volunteer worker