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New York State Property and Casualty Licensing Exam Questions and Complete Solutions Graded A+
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New York State Property and Casualty Licensing Exam Questions and Complete Solutions Graded A+
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New York State Propertyand Casualty Licensing
Exam Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, Pro Rata Liability Clause is included in an insurance policy to deal with the problem of - Answer:
Duplicate insurance policies
The purpose of this clause is to illustrate the method to determine each insurer's liability in case of a
loss. Each insurer pays its fair share determined by the percentage that the carrier's limit bears to the
total coverage carried.
pro rata liability - Answer: If a loss occurs that is covered by more than 1 insurance policy that was
purchased by the insured, then each policy pays a portion of the loss that is proportional to the amount
of that policy over the total amount of all policies for the loss—each policy pays its pro rata share.
What is meant by Res Ipsa Loquitur? - Answer: Res ipsa loquitur means, roughly, "the thing speaks for
itself." Courts developed the concept of Res Ipsa Loquitur to deal with cases in which the actual
negligent act cannot be proved, but it is clear that the injury was caused by negligence.
What territories are covered by commercial auto insurance? - Answer: The coverage territory granted in
commercial auto insurance is the United States, its territories and possessions, Puerto Rico and Canada.
What does automobile insurance Supplementary Payments refer to? - Answer: Payment of defense and
other expenses by the insurance company beyond the limits of liability..
Any expense the insurance company wishes to incur in the processing of a claim is outside the limits of
coverage. The insured is not penalized.
Medical Payments coverage under a Homeowner policy are available for expenses resulting from an
injury to: - Answer: A residence employee..
This could be someone who mows the lawn. However, if a residence employee is covered under
Workers Compensation Coverage then the Medical Payments Coverage would not apply. Coverage does
not apply to the insured or member of the household. Roomers, boarders and tenants are not covered
as well
what does Homeowners - Coverage C exclude? - Answer: The Homeowners forms exclude certain types
of property. Pets are not covered for loss by an insured peril. The policy also excludes coverage for
property that is more specifically insured. Property of tenants is also excluded.
George Wilson has a personal auto policy. What coverage that would apply when a deer leaps onto Mr.
Wilson's car and causes extensive damage? - Answer: Comprehensive (other than collision).
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