Nj property license - Study guides, Class notes & Summaries

NJ Title Insurance Exam updated 2023/24 Reloaded| 100% verified In 1869 in Paul vs Virginia case the the US Supreme Court ruled that insurance? - Was not interstate Commerce. In 1944, in the South-Eastern Underwritters Association (SEUA) case, the U.S. Supreme Court ruled that insurance? - Was interstate commerce and was subject to Federal regulation. The McCarran-Ferguson Act of 1945 states that individual states are subject to the authority of the? - Federal Government Activitie...

PSI Real Estate State Exam (NJ) Question and answers rated A+ 2023/2024 C. an involuntary lien - correct answer When a land owner uses his land as security for a loan, the encumbrance created is called. C. Question the seller to any known defects - correct answer If an owner wants to list a property for sale "as is," the listing agent should A. licensee must hold a timeshare license - correct answer According to the New Jersey Real Estate Time Share Act, if a licensee is selling a timesha...

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...

Inherent Vice - A condition or defect that exists within property itself that causes the property to spoil, break, become defective, or destroy itself. Theft - The broadest of the crime coverages, includes any act of stealing, burglary, or robbery. Subrogation - The legal process by which an insurer seeks recovery of the amount paid to the insured from a third party responsible for having caused the loss.

NJ Property license 1 2024 Latest Updat What are the methods of managing risk? - ANSWER Avoidance, transfer, sharing, retention, reduction What is the fee a person pays an insurance company to receive coverage? - ANSWER Premium Self -insuring is typically used for what type of insurance? - ANSWER Workers compensation A tornado that destroys a property would be an example of what? - ANSWER Peril A state-issued document empowering an insurance company to become an admitted insurer is ...

NJ Property license 1

What are the methods of managing risk? - ANSWER Avoidance, transfer, sharing, retention, reduction What is the fee a person pays an insurance company to receive coverage? - ANSWER Premium Self -insuring is typically used for what type of insurance? - ANSWER Workers compensation A tornado that destroys a property would be an example of what? - ANSWER Peril A state-issued document empowering an insurance company to become an admitted insurer is called what? - ANSWER Certificate of Auth...

NJ Property & Casualty License Exam - Miscellaneous Personal Lines Coverage

What are the methods of managing risk? - ANSWER Avoidance, transfer, sharing, retention, reduction What is the fee a person pays an insurance company to receive coverage? - ANSWER Premium Self -insuring is typically used for what type of insurance? - ANSWER Workers compensation A tornado that destroys a property would be an example of what? - ANSWER Peril A state-issued document empowering an insurance company to become an admitted insurer is called what? - ANSWER Certificate of Auth...

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