NJ Property Producer Exam Question and answers correctly solved 2023/2024

NJ Property Producer Exam Question and answers correctly solved 2023/2024Dwelling Policy - correct answer Only insures property DP-1 - correct answer Basic Form DP-2 - correct answer Broad Form DP-3 - correct answer Special Form Dwelling Coverage A - correct answer Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the dwelling. Dwelling Coverage B - correct answer Other Structures- Insures buildings on premise but separate from the dwelling. Dwelling Coverage C - correct answer 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 - correct answer 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 - correct answer 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 - correct answer Broad Form. Owner Occupied HO-3 - correct answer Special Form. Ow