NJ PROPERTY PRODUCER EXAM QUESTIONS WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Course
NJ TITLE
Institution
NJ TITLE
Dwelling Policy - ACCURATE ANSWERS Only insures property
DP-1 - ACCURATE ANSWERS Basic Form
DP-2 - ACCURATE ANSWERS Broad Form
DP-3 - ACCURATE ANSWERS Special Form
Dwelling Coverage A - ACCURATE ANSWERS Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies f...
NJ PROPERTY PRODUCER EXAM
QUESTIONS
NJ PROPERTY PRODUCER EXAM QUESTIONS WITH GUARANTEED ACCURATE
ANSWERS |VERIFIED
Dwelling Policy - ACCURATE ANSWERS✔✔ Only insures property
DP-1 - ACCURATE ANSWERS✔✔ Basic Form
DP-2 - ACCURATE ANSWERS✔✔ Broad Form
DP-3 - ACCURATE ANSWERS✔✔ Special Form
Dwelling Coverage A - ACCURATE ANSWERS✔✔ Dwelling- Covers
dwelling, structures attached to dwelling, and materials/supplies for the
dwelling.
,Dwelling Coverage B - ACCURATE ANSWERS✔✔ Other Structures-
Insures buildings on premise but separate from the dwelling.
Dwelling Coverage C - ACCURATE ANSWERS✔✔ Personal Property-
Covers the insured's personal property and must be requested. If rental
property, a tenant's property is not covered.
Dwelling Coverage D - ACCURATE ANSWERS✔✔ Fair Rental Value-
Covers insured in the event a covered loss makes the rental portion of a
property unfit for normal use.
Dwelling Coverage E - ACCURATE ANSWERS✔✔ Additional Living
Expense- Included in DP-2 & DP-3 and pays for additional living
expenses the insured incurs after a loss. DP-1 by endorsement.
HO-2 - ACCURATE ANSWERS✔✔ Broad Form. Owner Occupied
HO-3 - ACCURATE ANSWERS✔✔ Special Form. Owner Occupied
HO-4 - ACCURATE ANSWERS✔✔ Tenants or Renters.
HO-5 - ACCURATE ANSWERS✔✔ Comprehensive Form (Open).
Covers everything minus named exclusions.
, HO-6 - ACCURATE ANSWERS✔✔ Condominium Owners
HO-8 - ACCURATE ANSWERS✔✔ Modified form. For special Risks.
Think Antique homes.
Mobile Homes - ACCURATE ANSWERS✔✔ By endorsement to a DP
or HO policy. Can be a separate policy. Insures home, other structures
(10%) and contents. Personal property - 40% of coverage. Permanent
Foundation.
Time Element Coverage Forms - ACCURATE ANSWERS✔✔ Business
Income. Covers loss of income and expenses due to suspension of
business following a covered loss.
Commercial Package Policy (CPP) - ACCURATE ANSWERS✔✔ Must
have at least 2 kinds of coverage.
CPP's can't contain: - ACCURATE ANSWERS✔✔ Workers'
Compensation, Life Insurance, Health and Disability Insurance, Certain
types of Professional Liability
Equipment Breakdown Coverage - ACCURATE ANSWERS✔✔ NOT a
maintenance policy, Designed to cover breakdown, Failure of pressure
or vacuum equipment, Mechanical failure (including rupture or bursting
caused by centrifugal force), Electrical failure.
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