Exam (elaborations)
New York Personal Lines Final Exam Questions & Answers 2023 ( A+ GRADED 100% VERIFIED)
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New York Personal Lines Final Exam Questions & Answers 2023 ( A+ GRADED 100% VERIFIED)
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N e wY o r k
P e r s o n a l
L i n e s
F i n a l
E x a m
A
passenger
is
injured
while
getting
into
a
friends
car .
Which
of
the
following
statements
would
apply
if
both
the
passenger
and
the
driver
had
medical
payments
coverage
under
the
auto
policy .
-
ANS
The
drivers
policy
would
be
primary .
Adverse
selection
is
a
concept
best
described
as:
-
ANS
Risks
with
higher
probability
of
loss,
seeking
insurances
more
often
than
other
risks.
An
example
of
an
alien
insurer
doing
business
in
NY
is
one
formed
under
the
laws
of
-
ANS
Mexico
According
to
the
NY
motor
vehicle
financial
responsibility
law
what
are
the
required
limits
of
liability
on
auto
policies
issued
in
this
state?
-
ANS
25/50/10
Which
of
the
following
examples
of
losses
paid
under
an
HO-3
homeowners
policy?
-
ANS
Damage
to
the
dwelling
caused
by
lava
or
dust
from
volcanic
eruption.
The
insureds
car
was
hit
and
damaged
by
a
deer .
Under
which
of
the
following
coverages
in
a
personal
auto
policy
would
this
loss
be
paid?
-
ANS
Other-Than-
Collision
Negligence
may
be
defined
as
-
ANS
The
failure
to
use
reasonable
and
prudent
care
When
the
direct
chain
of
events
resulting
from
a
negligent
act
causes
injury
or
damage
that
act
is
considered
to
be
-
ANS
A
proximate
cause
All
of
the
following
are
major
coverages
included
in
the
homeowners
policy
except
-
ANS
Loss
of
income
Which
of
the
following
would
be
added
for
coverage
under
a
property
policy
by
an
endorsement?
-
ANS
Additional
Insureds Under
the
automobile
assigned
risk
plan
how
much
coverage
must
be
provided
to
the
insured
for
liability
arising
out
of
the
death
of
two
persons
caused
by
a
single
auto
accident?
-
ANS
Up
to
100,000$
An
insured
relocated
to
another
state
for
work.
However ,
she
still
owns
and
insures
a
house
in
this
state,
but
has
had
no
one
living
in
it
for
3
months.
She
is
also
storing
some
of
furniture
and
clothes
in
the
house.
From
an
insurance
standpoint,
the
insured's
house
is
considered
-
ANS
Unoccupied
If
the
insured
owns
a
watch
valued
at
$10,000,
full
coverage
can
be
provided
on
a
homeowners
policy
by
purchasing
the
-
ANS
Scheduled
personal
property
endorsement
Which
of
the
following
statements
is
not
true
regarding
a
personal
umbrella
liability
policy?
-
ANS
It
provides
errors
and
ommissions
coverage
for
an
agency
What
is
not
part
of
the
policy
structure?
-
ANS
provisions
Under
the
personal
auto
policy ,
liability
for
bodily
injury
resulting
from
the
insureds
use
of
a
nonowned
automobile
is
-
ANS
Provided
by
the
insureds
policy
on
an
excess
basis
What
is
not
true
regarding
physical
damage
coverage?
-
ANS
Its
not
true
that
the
limit
of
liability
is
the
greater
of
the
actual
cash
value
of
the
vehicle
at
the
time
of
loss
or
the
amount
necessary
to
repair
or
replace
the
vehicle.
The
law
that
protects
consumers
against
the
circulation
of
inaccurate
or
obsolete
personal
or
financial
information
is
known
as
-
ANS
The
fair
credit
reporting
act
T ransportation
expenses
are
covered
under
a
personal
auto
policy
-
ANS
$20
per
day
for
a
max
of
$600
An
insured's
roof
cost
$4,000
when
installed
5
years
ago.
It
has
been
damaged
by
hail
and
must
be
replaced.
The
new
roof
will
cost
$6,000
at
today's
prices.
If
the
roof
has
been
depreciating
at
$200
per
year
and
his
policy
is
ACV ,
how
much
will
it
pay
toward
the
insured's
new
roof?
-
ANS
$5,000
Which
of
the
following
kinds
of
property
would
be
covered
under
a
dwelling
policy?
-
ANS
Rowboats
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