semplr.

Exams · Certifications · Licensing

Property and Casualty Insurance Producer Exam

Policies and cancellation (NY): practice questions

Our Property & Casualty Insurance bank has 11 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

Start the free mock exam

Question 1 · New York

New York insurers must send homeowners and dwelling fire policyholders an annual notice that:

  1. Rates will rise next year because of coastal storm losses
  2. The policy doesn't cover flood or mudslide and flood insurance is available separately
  3. The policy covers flood
  4. Earthquake is covered
Show the answer

B. The policy doesn't cover flood or mudslide and flood insurance is available separately — NY Ins. Law 3444: an annual notice explaining that such policies do not cover mudslide or flood, and that NFIP flood insurance is available separately.

Question 2 · New York

Under New York's standard fire policy, the insurer may cancel by giving the insured how much written notice?

  1. Five days
  2. Ten days
  3. Twenty days
  4. Forty-five days
Show the answer

A. Five days — NY Ins. Law 3404 (standard fire policy): the company may cancel by giving the insured a five days' written notice of cancellation.

Question 3 · New York

NY Ins. Law 3445 requires the superintendent to set disclosure rules for:

  1. Auto collision deductibles for private passenger cars
  2. Workers' compensation premiums
  3. Life insurance illustrations
  4. Windstorm deductibles in homeowners and dwelling fire policies
Show the answer

D. Windstorm deductibles in homeowners and dwelling fire policies — NY Ins. Law 3445(a): disclosure requirements for any deductible in a homeowner's or dwelling fire policy that applies as the result of a windstorm.

Question 4 · New York

The New York flood notice must accompany:

  1. Only policies in flood zones
  2. Only policies on homes located in mapped flood zones
  3. All new and renewal homeowners and dwelling fire policies
  4. Only policies with a mortgage
Show the answer

C. All new and renewal homeowners and dwelling fire policies — NY Ins. Law 3444(2): the notice accompanies all new and renewal homeowners and dwelling fire personal lines policies.

More Property & Casualty Insurance topics