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199+ Free NY Property & Casualty Practice Questions

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Which New York state agency is the primary regulator of property and casualty insurance companies and producers?

A
B
C
D
to track
2026 Statistics

Key Facts: NY Property & Casualty Exam

50%

Est. First-Time Pass Rate

NY DFS 2024

150 Q

Exam Questions

NY DFS

90 hrs

Pre-License Education

Highest nationally

25/50/10

Auto Minimums

NY Insurance Law

$1M

Security Fund Limit

Per claim

$48

Exam Fee

PSI

New York's P&C exam has an estimated 50% first-time pass rate, making it one of the more challenging state exams. New York is a no-fault auto state with Article 51 providing $50,000 in PIP benefits. The state requires 90 hours of pre-license education (the highest in the nation), 150 questions in 2 hours, and 70% to pass. NY's Property/Casualty Insurance Security Fund provides up to $1 million per claim.

Sample NY Property & Casualty Practice Questions

Try these sample questions to test your NY Property & Casualty exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 199+ question experience with AI tutoring.

1Which New York state agency is the primary regulator of property and casualty insurance companies and producers?
A.New York Department of State (DOS)
B.New York Department of Financial Services (DFS)
C.New York Insurance Commission
D.New York Office of General Services
Explanation: The New York Department of Financial Services (DFS) is the primary regulator of all insurance companies and producers in New York, including property and casualty lines. DFS was created in 2011 by merging the former Insurance Department and the Banking Department. The Department of State handles other licensing (such as real estate), not insurance regulation.
2How many hours of pre-license education must a candidate complete before sitting for the New York property and casualty insurance producer exam?
A.40 hours
B.60 hours
C.90 hours
D.120 hours
Explanation: New York requires 90 hours of pre-license education for property and casualty insurance producers, which is the highest pre-license education requirement in the nation. This rigorous requirement reflects New York's commitment to ensuring that insurance producers are thoroughly prepared before being licensed to sell property and casualty insurance.
3What was the significance of the 2011 creation of the New York Department of Financial Services (DFS)?
A.It separated banking regulation from insurance regulation
B.It merged the former Insurance Department and Banking Department into one agency
C.It transferred insurance regulation to the federal government
D.It eliminated the role of the Superintendent of Insurance
Explanation: In 2011, New York created the Department of Financial Services (DFS) by merging the former New York Insurance Department and the New York Banking Department into a single, unified regulatory agency. The head of DFS is the Superintendent of Financial Services, who assumed the responsibilities of both the former Superintendent of Insurance and the Superintendent of Banks.
4How many hours of continuing education (CE) must a New York property and casualty insurance producer complete during each two-year license renewal period?
A.12 hours
B.15 hours
C.24 hours
D.30 hours
Explanation: New York requires property and casualty insurance producers to complete 15 hours of continuing education during each two-year license renewal period. Of these 15 hours, at least 1 hour must be in ethics. Producers must complete their CE requirements before their license expiration date to maintain their active license status.
5Under New York Insurance Law, which of the following is required for an individual to obtain a property and casualty producer license?
A.A four-year college degree in business or finance
B.Completion of 90 hours of approved pre-license education, passing the state exam, and a background check
C.Three years of experience working in an insurance agency
D.Sponsorship by an existing licensed insurance company
Explanation: To obtain a New York property and casualty producer license, an individual must complete 90 hours of approved pre-license education, pass the state licensing examination, and submit to a background check. There is no requirement for a college degree, prior work experience, or sponsorship by an insurance company, though the applicant must be at least 18 years old and a resident of New York (or qualifying non-resident).
6Under New York law, what is the role of an excess line broker (surplus lines broker)?
A.To sell only auto insurance policies
B.To place coverage with non-admitted insurers when coverage is unavailable from admitted insurers in New York
C.To provide reinsurance to domestic insurance companies
D.To act as a claims adjuster for commercial property losses
Explanation: An excess line (surplus lines) broker in New York is licensed to place insurance coverage with non-admitted (unauthorized) insurers when the needed coverage cannot be obtained from insurers admitted to do business in New York. The broker must make a diligent search of the admitted market before placing business with a non-admitted carrier, and must file the required documentation with DFS.
7Which of the following accurately describes the New York property and casualty pre-license education requirement compared to other states?
A.New York requires the fewest hours of any state
B.New York requires 40 hours, which is average among all states
C.New York requires 90 hours, the highest pre-license education requirement in the nation
D.New York has no pre-license education requirement
Explanation: New York requires 90 hours of pre-license education for property and casualty insurance producers, which is the highest pre-license education requirement in the nation. Most other states require between 20 and 40 hours. This extensive requirement ensures that New York producers have a thorough understanding of insurance principles, state laws, and consumer protection regulations before they are licensed.
8Under New York Insurance Law, how long does a producer have to notify DFS of a change of address?
A.10 days
B.30 days
C.60 days
D.90 days
Explanation: New York Insurance Law requires that a licensed insurance producer notify the Department of Financial Services (DFS) within 30 days of any change of address. Failure to notify DFS in a timely manner can result in administrative action against the producer's license, including fines or license suspension.
9In New York, which entity has the authority to approve or disapprove property and casualty insurance rates?
A.The state legislature
B.The New York Department of Financial Services (DFS)
C.The Insurance Services Office (ISO)
D.The National Association of Insurance Commissioners (NAIC)
Explanation: The New York Department of Financial Services (DFS) has the authority to approve or disapprove property and casualty insurance rates under New York's prior approval rating system. Insurers must file rates with DFS and receive approval before using them. ISO provides advisory rates but does not have regulatory authority. The NAIC is a voluntary organization of state regulators and does not have direct authority over rates.
10What minimum age must an applicant meet to obtain a property and casualty insurance producer license in New York?
A.16 years old
B.18 years old
C.21 years old
D.25 years old
Explanation: An applicant must be at least 18 years old to obtain a property and casualty insurance producer license in New York. This age requirement applies to all lines of insurance authority in the state. The applicant must also be a U.S. citizen or legal resident and must complete the required pre-license education and pass the state licensing exam.

About the NY Property & Casualty Exam

The New York property and casualty insurance exam covers DFS licensing requirements, New York Insurance Law, the unique NY no-fault auto system (Article 51), homeowners coverage, commercial insurance, workers compensation, and New York-specific consumer protections including the NY Property/Casualty Insurance Security Fund and Regulation 64.

Questions

150 scored questions

Time Limit

2 hours

Passing Score

70%

Exam Fee

$48 (New York Department of Financial Services (DFS) / PSI)

NY Property & Casualty Exam Content Outline

25%

NY DFS & Licensing

DFS licensing, 90 hrs pre-license education (highest nationally), license types, appointment, CE

25%

NY Property Insurance

Homeowners, NY FAIR Plan, commercial property, Regulation 64 claims handling

25%

NY Casualty/Auto Insurance

NY no-fault Article 51, $50K PIP, Supplementary Uninsured Motorist, workers comp

25%

NY Ethics & Practices

NY Insurance Law, unfair practices, Security Fund, Reg 64, producer conduct

How to Pass the NY Property & Casualty Exam

What You Need to Know

  • Passing score: 70%
  • Exam length: 150 questions
  • Time limit: 2 hours
  • Exam fee: $48

Keys to Passing

  • Complete 500+ practice questions
  • Score 80%+ consistently before scheduling
  • Focus on highest-weighted sections
  • Use our AI tutor for tough concepts

NY Property & Casualty Study Tips from Top Performers

1Master NY Article 51 no-fault — $50K PIP, 80% wage loss, 3-year maximum
2Know NY requires 90 hours pre-license education (highest in the nation)
3Understand Regulation 64 claims handling timeframes: 15/30/15 days
4Learn NY 25/50/10 auto minimums plus mandatory $50K PIP
5Study NY P/C Insurance Security Fund — $1 million per claim limit

Frequently Asked Questions

How hard is the New York property and casualty insurance exam?

The NY P&C exam has an estimated 50% first-time pass rate with 150 questions in just 2 hours, requiring 70% to pass. New York requires the most pre-license education in the nation at 90 hours. The no-fault auto system (Article 51) and Regulation 64 are heavily tested.

How does New York's no-fault auto insurance system work?

Under NY Article 51, all auto policies include Personal Injury Protection (PIP) covering $50,000 in medical expenses, lost wages (80% up to $2,000/month for 3 years), and other reasonable expenses regardless of fault. Minimum liability coverage is 25/50/10 plus $50K PIP.

What is New York Regulation 64?

Regulation 64 (11 NYCRR 216) establishes standards for prompt, fair, and equitable settlement of claims. It requires insurers to acknowledge claims within 15 business days, complete investigations within 30 days, and accept or deny claims within 15 business days after investigation.

What is the NY Property/Casualty Insurance Security Fund?

The NY P/C Insurance Security Fund protects policyholders when an insurer becomes insolvent. It provides up to $1 million per claim for most lines, which is significantly higher than most other states. It covers all property and casualty lines except workers compensation.