NJ Property/ Casualty Insurance Bundled Exams Questions and Answers Multiple Versions (2024/2025) (Complete and Accurate)

Property and Casualty Exam Latest Update Graded A+ Bailee An individual or organization who has taken into its care, custody, and/or control the property of another for servicing, repair, or storage Hazard Something that increases the chance or likelihood of a loss occuring. (physical o...

Property and Casualty Exam Questions and Answers Already Passed the one basic characteristic of any type of insurance is that the insured is returned to the same status that existed prior to the loss, but without a chance for gain or profit true which of the following coverages does an ope...

Property and Casualty Questions and Answers Already Passed An agent license can be suspended or revoked by writing primarily controlled business If an insured hides information and fails to disclose a known material fact to the insurer is known as Concealment which of the following stat...

NJ Property License 1 Questions And Answers Already Passed What are the methods of managing risk? Avoidance, transfer, sharing, retention, reduction What is the fee a person pays an insurance company to receive coverage? Premium Self -insuring is typically used for what type of insurance...

Property-Insurance Terms & Related Concepts 100% Correct Insurance The TRANSFER of financial responsibility associated with a potential of a loss (risk) to an insurance company, which in turn spreads the costs of unexpected losses to many individuals. Insurance Contract in which one party...

NJ Property Producer License Questions and Answers Rated A+ A "certification of license status" report can be run on any currently licensed New Jersey producer, but can only contain information on formal disciplinary actions taken within the past 4 Years What is not an additional cause of...

Personal lines Property & Casualty Questions and Answers Already Passed Chance or Uncertainty of a Loss Risk Possible cause of a loss Peril The Commissioner of insurance is appointed by the governor for a term of ______ ending on February 1 of each odd-numbered year? 2 Years The Commis...

Property and Casualty Principles Review Test Already Passed In order to get a loan to buy a car, John had to obtain insurance on the car. The purpose of the insurance requirement is to A - protect the lender's financial interest in the car in the event it is damaged or destroyed B - cr...

NJ Casualty Producer Latest Update Graded A+ Powers and duties of Commissioner Conduct research Make reasonable rules and regulations Issue orders and notices Issue insurance licenses and certificates of authority Impose penalties Approve insurance policy forms and rates 10 Amount of...

Property and Casualty Chapter 2 Exam with Complete Solutions When a building has physical contents but no occupants, the building is said to be Unoccupied Under the Other Insurance condition, when two property policies cover the same property, how is a loss apportioned? Each policy will s...

NJ PROPERTY PRODUCER LATEST UPDATE GRADED A+ Declarations Section of an insurance policy containing the basic underwriting information such as the insured's name, address, amount of coverage and premiums, and a description of insured's location. Where is Declarations page found? Usually...

NJ Casualty Exam Latest Version Graded A+ Personal Auto Policy PAP Personal Auto Policy (PAP) developed by the industry service bureau known as the Insurance Services Office (ISO) ISO Insurance Services Office insurance services office the industry service bureau the PAP designed ...

Property and Casualty Practice PSI Exam Questions and Answers Rated A+ Employees are barred from suing employers in court to obtain compensation for injuries covered by workers' compensation because of which of the following doctrines? -Employer liability -Exclusive remedy -Workman liabil...

NJ Casualty Producer Latest Update Graded A+ Powers and duties of Commissioner Conduct research Make reasonable rules and regulations Issue orders and notices Issue insurance licenses and certificates of authority Impose penalties Approve insurance policy forms and rates Amount of da...