New York Property & Casualty Insurance License Exam — All Questions

How is New York's auto insurance system best characterized?

• a.A pure tort state with no first-party benefits
• b.A state with no compulsory auto insurance
• c.A no-fault state requiring basic no-fault (Personal Injury Protection) benefits✓
• d.An assigned-risk-only state

New York is a no-fault state: every auto policy must include basic no-fault (PIP) coverage that pays the insured's economic losses, such as medical bills and lost earnings, regardless of who caused the crash. The right to sue for pain and suffering is limited unless a 'serious injury' threshold is met. Confirm current no-fault rules with the New York DFS.

What are New York's minimum bodily-injury auto liability limits for injury to one person in an accident?

• a.$15,000 per person / $30,000 per accident
• b.$25,000 per person / $50,000 per accident✓
• c.$50,000 per person / $100,000 per accident
• d.$100,000 per person / $300,000 per accident

New York requires at least $25,000 per person and $50,000 per accident for bodily injury, with higher $50,000/$100,000 limits applying when a death results. These figures are published by the New York DMV; because minimums can change, verify current limits with the NY DMV or DFS.

What is New York's minimum property-damage liability limit for a private passenger auto?

• a.$10,000 per accident✓
• b.$5,000 per accident
• c.$25,000 per accident
• d.New York has no property-damage minimum

New York's minimum property-damage liability limit is $10,000 per accident, per the New York DMV's stated insurance requirements. Bodily-injury minimums are separate (25/50, or 50/100 where death results). Verify current figures with the NY DMV or DFS.