- Study guides, Class notes & Summaries

What would be the result if a producer sold a policy at a loss cost rate? - Financial loss to an insurer What contract part contains an insurer's promise to pay? - insuring agreement What determines the unit of exposure in the measure of insurance? - rate An individual insured under a policy that is not named is known as: - the insured William wants to know whether theft will be covered under his basic form dwelling policy. Will it be covered? - No, it will not be covered. Which covera...

NJ PROPERTY/ CASUALTY INSURANCE EXAM 2025/2026 QUESTIONS WITH ANSWERS GRADED A+

Comprehensive Coverage - Known as "other than collision" coverage, is an optional car insurance coverage designed to pay for certain repairs that aren't related to collisions. Comprehensive General Liability Form - A broad liability coverage form which, when attached to the General Liability policy jacket, provides coverage for the premises and operations, independent contractors, and products and completed operations exposures in a single contract. Concealment - The withholding ...

Application for Insurance - Applying for insurance begins with the applicant (buyer) completing and signing an application ('app'), usually with the producer's assistance. Agent's Report - Producers may need to provide an evaluation of the risk to the insurer. Commercial Insurance Information - For commercial insurance, additional information like business operations, growth potential, and safety programs may be required. Loss History Data - Applicants must list their past lo...

Who is eligible to submit applications under the California Fair Access to Insurance Requirements? - All insurers authorized to transact basic property insurance in California are able to participate Which is TRUE regarding expectant or contingent Interest? - Expectant or contingent interest does NOT constitute insurable interest Unless otherwise specified in the insurance contract, all of the following are TRUE regarding return of premium EXCEPT - The premium is forfeited if the policy is...

Which of the following defenses against negligence reduces damages in proportion to the degree of negligence? A Statute of limitations B Assumption of risk C Comparative negligence D Contributory negligence - C casualty basics: personal injury liability includes which of the following

All of the following are optional coverage's under Homeowners policies except? A. Personal Property Replacement Cost coverage. B. Increased coverage limits from items suck as jewelry, furs, and silverware. C. Loss of Use coverage. D. Earthquake coverage. - C. Loss of Use Coverage. The National Flood Insurance Program (NFIP) standards are set by, and the Program is administered by, the? A. National Flood Management Association (NFMA) B. National Emergency Standards Agency (NESA) C. Fe...

NJ PROPERTY PRODUCER EXAM QUESTIONS AND ANSWERS

NJ TITLE INSURANCE STATE EXAM QUESTIONS AND ANSWERS

NJ PSI PROPERTY AND CASUALTY EXAM QUESTIONS AND ANSWERS