NY Property and Casualty Insurance Practice Exam Test Bank questions and Answers
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Course
NY Property and Casualty Insurance
Institution
NY Property And Casualty Insurance
Underwriters are permitted to use all of the following when underwriting an application for insurance EXCEPT: - ANSWER-age, race, and religion
Which of the following would be covered by a commercial package policy? - ANSWER-loss due to crime
Which exposure is unique to mobile homes?
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NY Property and Casualty Insurance Practice
Exam Test Bank questions and Answers
Underwriters are permitted to use all of the following when underwriting an application
for insurance EXCEPT: - ANSWER-age, race, and religion
Which of the following would be covered by a commercial package policy? - ANSWER-
loss due to crime
Which exposure is unique to mobile homes?
1.loss from foreclosure
2. loss from collapse of awnings
3. loss from flood damage
4. loss from collision damage - ANSWER-
Which of the following is the standard amount of Coverage A-dwelling provided by the
HO-6 Unit-Owners Policy? - ANSWER-1,000
Which coverage forms are used when the insured sustains loss of revenue due to direct
physical loss from a peril insured against that forces the insured to suspend operations
during the period of restoration? - ANSWER-Business Income Coverage forms
When the policy term ends and either the insured or the insurance company wants to
discontinue coverage which provision is applied? - ANSWER-Non-renewal
A single earthquake constitutes all shocks that occur within which time period? -
ANSWER-168 hours
Under the commercial general liability which one of the following is covered under
supplementary payments? - ANSWER-cost of bail bonds
All of the following are elements of a valid contract EXCEPT - ANSWER-
The following are all types of disability categories under workers' compensation
insurance EXCEPT - ANSWER-temporary permanent.
Which of the following persons is covered for accidental injury on the insureds premises
under the commercial general liability medical payments? - ANSWER-a volunteer
worker
Which of the following provides insurance for employers when workers not covered by
workers' compensation insurance are injured on the job and sue for compensation? -
ANSWER-employer liability
, An extended reporting period attached to a general liability policy provides coverage in
which of the following ways? - ANSWER-It provides coverage for claims made outside
the policy term.
All of the following describe a nonowned auto under the commercial auto policy Symbol
9 EXCEPT - ANSWER-auto not titled to an insured but available for regular use of
named insured of family member.
All of the following are used to establish negligence EXCEPT - ANSWER-
Which Homeowner Form covers fixtures, installations, and improvements made or
acquired at the insured's expense? - ANSWER-HO-4
When an insured selects Symbol 2 on the automobile declarations, indicating coverage
for any auto titled to the insured, which of the following automobile types will be
covered? - ANSWER-owned autos only
Which of the following policy assignment rights occurs when the named insured dies? -
ANSWER-The insured's legal representative takes over the policy.
What does an application for insurance contractually represent for the insured? -
ANSWER-an offer
Which of the following defines the chance or uncertainty of loss? - ANSWER-Risk
The claims-made liability form provides coverage from a date that precedes the policy
effective date. Which of the following defines that date? - ANSWER-retroactive date
What is the purpose of the causes of loss form that lists specific exclusions? -
ANSWER-to state which perils are insured against
Which document would a lender ask an insured for as evidence that a policy has been
written? - ANSWER-Certificate
Which of the following created The National Flood Insurance Program? - ANSWER-the
United States Congress
Punitive damages are intended to do all of the following EXCEPT - ANSWER-
compensate for actual financial losses.
All of the following are excluded losses under Part D-damage to an auto of the personal
auto policy EXCEPT - ANSWER-to caps, covers, or bedliners on pickup trucks.
Which of the following would be eligible to collect survivor and death benefits from
workers' compensation in the event of the covered injury resulting in the death of an
employee? - ANSWER-spouse of employee
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