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Free Other Types of Property and Casualty Practice Questions

New York Property & Casualty exam (series 17-56) — 17 practice questions.

Subtopics: FAIR Plan, Coastal market, Umbrella and excess, Surety bonds, Flood insurance, Specialty liability, Ocean marine, Alternative markets, Difference in conditions, Aviation

Sample questions & answers

1. Property owners who cannot obtain basic property insurance in the New York voluntary market may use the:

New York Property Insurance Underwriting Association (NYPIUA)

The New York Property Insurance Underwriting Association (NYPIUA) is the state's FAIR Plan, making basic property insurance available to hard-to-place risks.

2. New York coastal homeowners who have difficulty placing coverage may be assisted by the:

Coastal Market Assistance Program (CMAP)

The Coastal Market Assistance Program (CMAP) helps place homeowners coverage for eligible coastal-area risks in New York.

3. A commercial umbrella policy generally provides:

Excess limits above underlying policies and may drop down to cover some claims not insured by the underlying policy (subject to a self-insured retention)

An umbrella sits above scheduled underlying coverages, provides higher limits, and may drop down (subject to an SIR) for claims the underlying does not cover.

4. In a surety bond, the party who guarantees the performance or obligations of the principal is the:

Surety

The surety guarantees the principal's performance to the obligee; if the principal defaults, the surety is responsible.

All Property & Casualty topics

Practice: Other Types of Property and Casualty

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.