Download Final Exam Questions Property and Casualty - NJ STATE EXAM WITH STUDY GUIDE EXAMFX UPDATE and more Exams Nursing in PDF only on Docsity!
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Professional liability policies protect against liability resulting from - CORRECT ANSWER ✔✔A. Errors and Omissions Page 46 Mini-Tail or Extended. Page 60 - CORRECT ANSWER ✔✔B. 60 Days after expiration date Not an exclusion under auto physical damage selection. Page 28 - CORRECT ANSWER ✔✔C. Carpools Not a covered territory in the personal auto policy. Page 25 - CORRECT ANSWER ✔✔C. Mexico Which is covered under other than collision section of your auto policy. Page 26 - CORRECT ANSWER ✔✔A. Hail damage to your car Nationwide Marine Define classifies risks can be written. Page 95 - CORRECT ANSWER ✔✔B. Inland marine form
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Assignment provision of policy to another person without written consent page 51 - CORRECT ANSWER ✔✔A. Get permission from insurance Not something of value exchanged policy. Page 13 - CORRECT ANSWER ✔✔D. Application given to prospective insured The following are insured under auto policy EXCEPT. Page 38 - CORRECT ANSWER ✔✔B. Spouse of name insured NOT living in household Occurrence form trigger based on. Page 17 - CORRECT ANSWER ✔✔D. Date injury occurs Maximum coverage bodily injury offered by NJ Full Insurance Underwriting Association. Page 55 - CORRECT ANSWER ✔✔D. $500,000. Duties of insurer include all of the following EXCEPT - CORRECT ANSWER ✔✔B. Notify the insured if financial difficulty
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Several years after liability loss a bus owner is made aware of her incident. Page 17 - CORRECT ANSWER ✔✔A. Occurrence Policy Supplementary payments are made in. Page 21 - CORRECT ANSWER ✔✔B. Addition to the policy Purpose of Commercial Insurance Deregulation Act is page. 59 - CORRECT ANSWER ✔✔B. To protect against excessive & unfair rates Certification of license status contains ALl EXcept? Page 110 - CORRECT ANSWER ✔✔How long a person is licensed Insurance company cancels your Agency contract. Page 112 - CORRECT ANSWER ✔✔B. 15 days Producer must notify Commissioner within how many days of a conviction of a crime. Page 111 - CORRECT ANSWER ✔✔30 Days
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Defamation best described. page 115 - CORRECT ANSWER ✔✔D. Making maliciously critical statements about financial condition of any person or company. When would a misrepresentation on an insurance application be considered fraud? Page 10 - CORRECT ANSWER ✔✔When it is intentional and material Insured had HO4 with $30,000 limit for personal property. While traveling a fire destroys clothing luggage and jewelry with total replacement cost of $20,000. At 20% depreciation how much is paid? ON State exam!! Replacement cost-depreciation value $20,000-20% (20) 20%=0.2 = 20/ $20,000-4,000= $16,000 - CORRECT ANSWER ✔✔$16,000. When you are acting as a broker you represent the - CORRECT ANSWER ✔✔B. Client
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Supreme court stated insurance interstate commerce & is therefore. Page 102 - CORRECT ANSWER ✔✔D. McCarran vs NY In NJ diligent effort placing a risk in authorized be surplus. Page 61 - CORRECT ANSWER ✔✔A. Submitted & declined by 3 authorized An insurance agent represents. page 100 - CORRECT ANSWER ✔✔D. Insurer (Insurance company) Insured and insurer have a dispute about whether a loss is covered under policy. Which authority will settle the dispute? Page 102 - CORRECT ANSWER ✔✔C. Court cases Commercial Insurance Deregulation Act policy forms must be filed. page 59 - CORRECT ANSWER ✔✔A. 30 Days before they become affective Before receiving certificate of authority and insurance company must meet. Page 99 - CORRECT ANSWER ✔✔Financial Requirements Commercial property forms which is covered cause of loss page 56 - CORRECT ANSWER ✔✔D. Sinkhole collapse
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Coverage needed when business can't afford to be shut down for repairs. page 62 - CORRECT ANSWER ✔✔A.Extra expense All of the following would qualify under the BOP EXCEPT. Page 69 - CORRECT ANSWER ✔✔c. convenience store with car wash Which will be paid under the BOP. Page 70 - CORRECT ANSWER ✔✔B. Outdoor signs attached to building All of the following are ineligible under the BOP EXCEPT. - CORRECT ANSWER ✔✔A. Electrician Majority of premium in equipment breakdown pays for. page 67 - CORRECT ANSWER ✔✔A. Inspection & loss contol An employee is injured outside his home state. How are workers compensation determined. page 42 - CORRECT ANSWER ✔✔D.
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Contract for transport of goods between shipper & the carrier. Page 88 - CORRECT ANSWER ✔✔D. Bill of lading (What is in the truck) Coverage for losses resulting from the collapse of earth arising from underground limestone by action. Page 35 - CORRECT ANSWER ✔✔B. Sinkhole Collapse Water used to put out a fire damage the floor. Even if the water damage is not a covered peril it will be covered. Page 7 - CORRECT ANSWER ✔✔B. proximate cause An applicant has completed all the steps necessarily to obtain the license but work. Page 109 - CORRECT ANSWER ✔✔C. temporary work authority Which of the following forms covers a carrier for liability for loss to cargo: - CORRECT ANSWER ✔✔Motor Truck Cargo Policy-Truckers Form.
- NJ STATE EXAM WITH STUDY GUIDE
EXAMFX UPDATE 2025
Who creates insurance laws? - CORRECT ANSWER ✔✔State Legislature.
