NJ PROPERTY AND CASUALTY EXAM PRACTICE COMPREHENSIVE STUDY GUIDE

NJ PROPERTY AND CASUALTY EXAM
PRACTICE COMPREHENSIVE STUDY GUIDE

◉ DP-1.
Answer: Basic Form


◉ DP-2.
Answer: Broad Form


◉ DP-3.
Answer: Special Form


◉ Dwelling Coverage A.
Answer: Dwelling- Covers dwelling, structures attached to dwelling,
and materials/supplies for the dwelling.


◉ Dwelling Coverage B.
Answer: Other Structures- Insures buildings on premise but
separate from the dwelling.


◉ Dwelling Coverage C.

,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.
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.
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.
Answer: Broad Form. Owner Occupied


◉ HO-3.
Answer: Special Form. Owner Occupied


◉ HO-4.
Answer: Tenants or Renters.


◉ HO-5.

, Answer: Comprehensive Form (Open). Covers everything minus
named exclusions.


◉ HO-6.
Answer: Condominium Owners


◉ HO-8.
Answer: Modified form. For special Risks. Think Antique homes.


◉ Mobile Homes.
Answer: By endorsement to a DP or HO policy. Can be a separate
policy. Insures home, other structures (10%) and contents. Personal
property - 40% of coverage. Permanent Foundation.


◉ Time Element Coverage Forms.
Answer: Business Income. Covers loss of income and expenses due
to suspension of business following a covered loss.


◉ Commercial Package Policy (CPP).
Answer: Must have at least 2 kinds of coverage.


◉ CPP's can't contain:.