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  4. Property Casualty Basics

Free Property Casualty Basics Practice Questions

New York Personal Lines exam (series 17-54) — 51 practice questions.

Subtopics: Standard fire policy, Residential cancellation notice, Nonrenewal notice, FAIR Plan, Rate regulation, Coastal market, Policy structure DICE, Declarations, Insuring agreement, Exclusions, Actual cash value, Replacement cost, Coinsurance purpose, Coinsurance penalty math, Coinsurance no penalty, Deductible effect, Named perils, Open perils, Burden of proof, Subrogation, Salvage, Appraisal provision, Pro rata other insurance, Vacancy, Real vs personal property, Negligence, Elements of negligence, Compensatory damages, Punitive damages, Bodily injury, Property damage, Occurrence, Absolute liability, Vicarious liability, Comparative negligence, Liability limits, Binder, Endorsement, Stated value vs agreed value, Abandonment, Mortgagee clause, Assignment, Proximate cause, Attractive nuisance, Hold harmless agreement, Certificate of insurance, Valued policy, Blanket vs specific, Liability vs property insurance, Duties after loss, Concurrent causation

Sample questions & answers

1. New York's Standard Fire Policy establishes minimum statutory provisions for coverage against:

Fire, lightning, and removal of property

The New York Standard Fire Policy sets minimum statutory provisions for fire, lightning, and removal coverage.

2. For a New York homeowners policy in force more than 60 days, midterm cancellation is generally allowed only for specific reasons with advance written notice of at least:

15 days

After 60 days, a homeowners policy may be cancelled midterm only for stated reasons and with at least 15 days advance written notice.

3. A New York insurer that decides not to renew a homeowners policy must give the insured advance written notice generally between:

45 and 60 days

Nonrenewal of a personal lines property policy requires advance written notice (generally not less than 45 nor more than 60 days) stating the reason.

4. The New York Property Insurance Underwriting Association (NYPIUA) provides:

Basic property insurance to those unable to obtain it in the voluntary market

NYPIUA is New York's FAIR Plan, a residual market that provides basic property coverage to applicants who cannot obtain it normally.

All Personal Lines topics

Practice: Property Casualty Basics

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Pennsylvania Insurance Department and the exam administrator before relying on it.