Nj property insurance law Study guides, Class notes & Summaries

n New Jersey, and insurer must provide at least______ advance notice for cancellation of property coverages for nonpayment of premium - ANSWER-10 days The employment of another producer by a producer is subject to all of the following requirements, except a. the employer shall examine the credentials of the kinds of business described in the contract. b. the employer shall be responsible for the insurance related conduct of the employee c. the employee producer will conduct business under...

NJ Life Producer Exam Correct answers latest update Which of the following amounts must decrease in a decreasing term? Death benefit In life insurance, insurable interest must exist at the time the.. Producer writes an on a proposed insured An applicant makes an offer to the insurer when they pay an initial premium with the application Which of the following makes Universal Life insurance different from other forms of permanent insurance? Premium Schedule An insurer that...

In New Jersey, and insurer must provide at least______ advance notice for cancellation of property coverages for nonpayment of premium - ANSWER-10 days The employment of another producer by a producer is subject to all of the following requirements, except a. the employer shall examine the credentials of the kinds of business described in the contract. b. the employer shall be responsible for the insurance related conduct of the employee c. the employee producer will conduct business unde...

NJ property insurance law Exam with complete solutions In New Jersey, and insurer must provide at least______ advance notice for cancellation of property coverages for nonpayment of premium 10 days The employment of another producer by a producer is subject to all of the following requirements, except a. the employer shall examine the credentials of the kinds of business described in the contract. b. the employer shall be responsible for the insurance related conduct of the employee ...

NJ LIFE INSURANCE EXAM QUESTIONS AND ANSWERS Lapse - Answer-Termination of a policy because the premium has not been paid by the end of the grace period. Law of Large Numbers - Answer-A principle stating that the larger the number of similar exposure units considered, the more closely the losses reported will equal the underlying probability of loss. Level Premium - Answer-A policy premium that remains the same over the period of time premiums are paid. Life Expectancy - Answer-Avera...

NJ STATE PROPERTY AND CASUALTY FINAL EXAM WITH STUDY GUIDE EXAMFX RATED A+ Professional liability policies protect against liability resulting from A. Errors and Omissions Page 46 Mini-Tail or Extended. Page 60 B. 60 Days after expiration date Not an exclusion under auto physical damage selection. Page 28 C. Carpools Not a covered territory in the personal auto policy. Page 25 C. Mexico Which is covered under other than collision section of your auto policy. Page 26 A. Hail ...

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? Workers compensation A tornado that destroys a property would be an example of what? Peril A state-issued document empowering an insurance company to become an admitted insurer is called what...

Broker One who buys and sells for another for a fee. Broker-Salesperson A qualified broker who practices real estate in the position of salesperson in another broker's office bureau of subsidized land sales control regulations covering out of state properties sold in NJ continuing education 12 hours required every two years, two of which must be on ethics NJ Real Estate Commission Department of Banking and Insurance. 8 members. 5 brokers for at least 10 years, two from general public a...

NJ Real Estate Exam Questions with Correct Answers (100% Pass) Civil Rights act of 1866 - Answer-Prohibits any discrimination based on race and color, no exceptions Federal Fair Housing Act of 1968 - Answer-Unlawful to discriminate on the basis of race, color, religion or national origin when selling or leasing residential properties. Certain exemptions apply Title VIII - Answer-The portion of the Civil Rights Act of 1968 in which the Federal Fair Housing act is contained Redlining -...