NJ Property and Casualty Insurance Licensing Exam.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/NJ%20Property%
NJ Property and Casualty Insurance Licensing
Exam Questions & Answers
1. To prevent recovery beyond the amount of the insured's actual loss, the
policy will contain
Answer An Other Insurance Clause
2. Collision coverage of an auto policy covers
a) road damage to the tires
b) upset of the vehicle
c) frozen engine block
d) falling objects
Answer B) upset of the vehicle
3. The maximum amount of payable for all losses resulting from one event is
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known as the
a) occurrence limit
b) aggregate limit
Answer a) occurrence limit
4. Which of the following is a cause of loss form?
a) declarations form
b) proof of loss form
c) garage keepers' form
d) basic form
Answer d) Basic form
5. The minimum flood deductible is
a) $100
b) $250
c) $500
d) $1000
Answer c) $500
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6. The insured intentionally did not inform the insurer that the insured owned
only 35% of the property.The insurer can void the policy for
a) conditional coverage
b) misrepresentation
c) error
d) concealment
Answer d) concealment
7. Which of the following is NOT a defense against negligence?
a) contributory negligence
b) statues of limitations
c) presumption of negligence
d) assumption of risk
Answer c) presumption of negligence
8. The presumed authority necessary to carry out the producer's routine tasksis
known as
a) expressed authority
b) implied authority
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Answer b) implied authority
9. Which of the following statements regarding theTowing and Labor endorse-
ment is false?
a) it will pay to the limit stated in the endorsement each time a covered vehicle
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