New York Property & Casualty Exam Overview
Key Takeaways
New York requires 90 hours of approved pre-licensing education for a full Property & Casualty license; Personal Lines authority requires only 40 hours.
The combined Property & Casualty exam has 150 multiple-choice questions, a 150-minute (2.5-hour) limit, and a 70% overall passing score, delivered by PSI Services.
New York compulsory auto limits are 25/50/10 bodily injury and property damage, plus $50,000 No-Fault PIP and 25/50 uninsured motorist coverage.
Applications are filed electronically through NIPR within two years of passing; the resident producer fee is $80 ($40 if the initial term is under 12 months). Agent and broker applicants are not fingerprinted.
Producers complete 15 CE hours every two years, including 1 hour each of insurance law, ethics, flood, and diversity/elimination-of-bias instruction.
Welcome to OpenExamPrep's FREE New York Property & Casualty (P&C) Insurance exam prep guide. This resource targets the New York-specific regulations, licensing logistics, and statutory thresholds you must know to pass in 2026.
About the New York P&C Exam
The New York P&C Agent/Broker examination is administered by PSI Services LLC on behalf of the New York Department of Financial Services (DFS). Every line exam blends two question pools: general items (federal insurance principles, products, contract law, agent duties) and state-specific items (New York Insurance Law and DFS regulations). You must master both — a strong national score will not save you if you ignore New York's No-Fault statute, free-trade-zone excess-line rules, and Regulation 60 replacement disclosures.
Exam Structure
| Component | Detail |
|---|---|
| Testing vendor | PSI Services LLC (DFS@psionline.com) |
| Regulator | NY Department of Financial Services (DFS) |
| Question count | 150 multiple-choice |
| Time limit | 150 minutes (2.5 hours) |
| Passing score | 70% overall (not per section) |
| Delivery | PSI test center or live online proctoring |
| Results | Pass/fail issued immediately at the center |
| Exam validity | Apply within 2 years of passing |
Trap: the 70% threshold is on the combined score. Candidates obsess over one weak topic, but a 73% national / 65% state split still passes if the overall is 70%+. Do not skip state law to chase general questions.
Pre-Licensing Education
New York mandates DFS-approved pre-licensing coursework before you may sit the exam (CPCU holders excepted — see below).
| License sought | Required hours |
|---|---|
| Property & Casualty (full) | 90 hours |
| Personal Lines only | 40 hours |
The 90-hour curriculum spans property forms (dwelling, homeowners, commercial property), casualty/liability (personal and commercial auto, general liability, workers' compensation), and New York statutory material. Approved providers issue a certificate of completion you present at registration; PSI will not seat a non-exempt candidate without it.
License Types
New York separates the agent and broker roles, a distinction the exam tests directly:
| Role | Whom they represent |
|---|---|
| Agent | The insurer; appointed by and binds on the carrier's behalf |
| Broker | The insured/applicant; shops the market, does not bind |
Exam & Education Waivers
- CPCU designation: A Chartered Property Casualty Underwriter (CPCU) is exempt from pre-licensing education but must still pass the Laws and Regulations portion.
- Experience waiver (brokers): at least one year of responsible underwriting/adjusting employment with an insurer, broker, or agent within the prior three years can substitute for education.
Memorize that CPCU — not CLU, CIC, or ARM — is the designation New York recognizes for the P&C education waiver; the exam loves to bait you with the wrong acronym.
On the New York P&C exam, how is the 70% passing standard applied?
To the combined overall score across general and state-specific questions
Separately to the general section and the state section, each must reach 70%
Only to the state-specific New York Insurance Law questions
As a scaled score that varies by exam form
Step-by-Step Licensing Path
- Complete 90 hours of DFS-approved P&C pre-licensing (or qualify for the CPCU/experience waiver) and obtain the completion certificate.
- Register with PSI at psiexams.com, choose the P&C exam and a center or online-proctored slot, and pay the exam fee.
- Pass at 70%+; your score shows on screen at the end and a score report is emailed to you.
- File electronically through NIPR (National Insurance Producer Registry) within two years of passing; miss the window and you must retest.
Typical Costs
| Item | Cost |
|---|---|
| Pre-license education (90 hrs) | $200-$400 |
| PSI exam fee | $40 per attempt |
| License application (NIPR) | $80 ($40 if initial term < 12 months) |
| Total | ~$320-$520 |
Correction to watch: the resident producer application fee is $80, not $50 — and it drops to $40 only when the first license term runs under twelve months. The biennial license cycle and prorated first-term fee are favorite distractor numbers.
New York Compulsory Auto Insurance
Because New York is a No-Fault state, its mandatory auto package is heavily tested. Commit these limits to memory:
| Coverage | Minimum |
|---|---|
| Bodily injury liability | 25/50 ($25,000 per person / $50,000 per accident) |
| Property damage liability | $10,000 |
| Personal Injury Protection (PIP, No-Fault) | $50,000 |
| Uninsured Motorist (UM) | 25/50 |
The shorthand is 25/50/10 plus $50,000 PIP. PIP pays an injured insured's economic loss — medical, 80% of lost wages, and incidental expenses — regardless of fault, which is the defining feature of No-Fault. New York also mandates a wrongful-death benefit within liability and requires UM at the same 25/50 floor. Trap: $10,000 is property damage, not PIP; candidates flip the two. PIP is $50,000 per person.
Flood Training & Continuing Education
Before selling federal flood policies, a producer must complete National Flood Insurance Program (NFIP) basic training; the credit counts toward CE.
New York producers complete 15 CE hours per two-year cycle for each license, so a producer with both a life/health and a P&C license meets 15 hours for each license (bridge courses approved for both lines count toward both). Required topic minimums each cycle include 1 hour insurance law, 1 hour ethics/professionalism, 1 hour flood insurance, and 1 hour diversity/inclusion and elimination-of-bias instruction.
Numbers to Memorize
| Topic | Value |
|---|---|
| Full P&C pre-license hours | 90 |
| Personal Lines hours | 40 |
| Exam questions / time | 150 / 150 min |
| Passing score | 70% overall |
| BI / PD limits | 25/50 / $10,000 |
| PIP (No-Fault) | $50,000 |
| CE (single / dual line) | 15 / 30 hrs |
Next, Chapter 1 dives into DFS authority, Insurance Law Article 21, and Regulation 60.
Which figure correctly states New York's minimum property damage liability limit for a private passenger auto policy?
$25,000 property damage
$50,000 property damage
$5,000 property damage
$10,000 property damage
A candidate completes the New York P&C exam in February 2026 but does not file a license application until June 2028. What is the result?
The application is accepted; passing results never expire
The application is accepted with a late fee
The candidate may apply only after completing fresh pre-licensing education
The candidate must retake and pass the exam because results expire after 2 years
How many hours of continuing education must a New York producer who holds BOTH a life/health and a property & casualty license complete each two-year cycle?
15 hours total, from courses approved for only one of the two lines
20 hours total
48 hours total
15 hours for each license
Which professional designation lets a New York candidate waive P&C pre-licensing education (while still passing the exam)?
Chartered Life Underwriter (CLU)
Certified Insurance Counselor (CIC)
Associate in Risk Management (ARM)
Chartered Property Casualty Underwriter (CPCU)
Sections you finish are checked off in the contents.