Free Other Personal Lines Practice Questions
New York Personal Lines exam (series 17-54) — 54 practice questions.
Subtopics: Excess lines, FAIR Plan, Personal umbrella, Umbrella underlying limits, Flood insurance NFIP, Flood waiting period, Personal articles floater, Watercraft, Mobile home, Recreational vehicle, Personal umbrella defined, Umbrella broader coverage, NFIP maximum building limit, Definition of flood, NFIP community participation, Yacht policy, Earthquake coverage, Comprehensive Personal Liability, NFIP limits, NFIP waiting period, NFIP flood definition, NFIP covered causes, NFIP basement coverage, NFIP loss settlement, NFIP increased cost of compliance, NFIP proof of loss, NFIP exclusions, NFIP distribution, NFIP deductibles, NFIP eligibility, Private flood insurance, Inland marine, FAIR plans, Residual markets, Recreational vehicles, NFIP, Scheduled property deductible, Newly acquired scheduled items, Newly acquired fine arts, Scheduled property territory, Scheduled property exclusions, Fine arts breakage, Boatowners coverage, Boatowners package, Life salvage, Mobile home eligibility, Mobile home transport
Read the Other Personal Lines study guide
Sample questions & answers
1. Before placing a New York risk with an unauthorized insurer, an excess line broker generally must obtain declinations from at least how many authorized insurers?
Three
Regulation 41 (Part 27.3(a)) requires a diligent effort of at least three declinations from authorized insurers that might write the coverage, unless an export list exception applies.
2. An important disclosure to a New York insured whose coverage is placed in the excess line market is that:
The insurer is unlicensed and not backed by state security funds
Excess line policies are issued by unauthorized insurers, so the insured must be told that the insurer is not licensed in New York and its policies are not protected by the New York security funds.
3. A New York excess line broker may not place noncommercial private passenger auto liability with an unauthorized insurer when the coverage is available from the residual market unless the broker:
Obtains a residual market declination
Part 27.3(e)(1) treats a diligent effort as not made for noncommercial auto liability available from a residual market facility unless that facility declines the risk.
4. An excess line broker may not deliver an excess line policy declarations page in New York unless it:
Bears the excess line association stamp
Part 27.6(b) prohibits delivering an excess line declarations page or cover note unless it bears the ELANY stamp.
Practice: Other Personal Lines
Answer choices are shuffled every time, and every question comes with an explanation.
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 Insurance Department and the exam administrator before relying on it.
