NJ PSI PROPERTY AND CASUALTY FINAL
PAPER 2026 COMPLETE SOLUTIONS AND
TESTED QUESTIONS GRADED A+
⩥ What type of damage is from extreme negligence?
Answer: Punitive
⩥ Karen had a property loss. When should she receive her payment?
Answer: Within 60 days after her insurance received their proof of loss
⩥ What best describes non-moveable property?
Answer: Real property
⩥ What term defines factors that determine rates?
Answer: Components
⩥ What term best depicts a circumstance that increases the probability
that a loss will occur?
Answer: Hazard
⩥ ABC company sold a blender to an individual, the blender
malfunctioned, injured its owner and caused a fire that burned down the
,house. ABC Company's product and completed operation policy will pay
everything EXCEPT:
Answer: Replacement of Blender
⩥ Strict liability is MOST frequently applied to activities EXCEPT:
Answer: Wild animal
⩥ What auto symbol in the garage coverage form is for autos held for
sale by non-dealers or trailer dealers?
Answer: Symbol 31
⩥ The truckers symbol ___ covers trailers in an individual's possession
under a written trailer or equipment interchange agreement?
Answer: 48
⩥ Which of the following would not be considered an insured under
business auto liability coverage?
Answer: Owner of a borrowed vehicle
⩥ How many coverage options are available under a Garagekeeper's
coverage
Answer: 3
,⩥ If an insured waives PIP coverage, which would be covered if an
accident occurs?
Answer: Passenger in the vehicle
⩥ Which is a creditor listed in an auto policy?
Answer: Loss payee
⩥ When a PIP waiver is signed, there is...
Answer: Medical payment coverage for listed family members under 16
⩥ After a loss occurs to an insured automobile, what must an insured
party do?
Answer: Permit an insurer to inspect the vehicle before it is repaired
⩥ If an insured waives PIP coverage, what would be covered if an
accident occurs?
Answer: Passenger in vehicle
⩥ What is the designated symbol under the Trucker Section 1 for only
owned commercial autos?
Answer: Symbol 43
⩥ When a PIP waiver is signed there is:
, a. No medical payment, coverage for passengers in an insured's vehicle
b. Medical payment coverage for listed family members under the age of
16
c. No medical coverage for pedestrians struct by an insured 's vehicle
d. No coverage for family over the age of 16
Answer: b. Medical payment coverage for listed family members under
the age of 16
⩥ Defamation of one's character would be covered under which
coverage (commercial package policy)?
Answer: Coverage B
⩥ Barbara was injured in a local supermarket's parking lot by a moving
grocery cart that hit her arm. This will be covered under which of the
following:
a. Premises & operations
b. Occurrence liability
c. Claims-made liability
d. Premises liability
Answer: A. Premises & operations
⩥ What is the basis for the Occurrence form trigger?
Answer: Place where an injury or damage occurred
PAPER 2026 COMPLETE SOLUTIONS AND
TESTED QUESTIONS GRADED A+
⩥ What type of damage is from extreme negligence?
Answer: Punitive
⩥ Karen had a property loss. When should she receive her payment?
Answer: Within 60 days after her insurance received their proof of loss
⩥ What best describes non-moveable property?
Answer: Real property
⩥ What term defines factors that determine rates?
Answer: Components
⩥ What term best depicts a circumstance that increases the probability
that a loss will occur?
Answer: Hazard
⩥ ABC company sold a blender to an individual, the blender
malfunctioned, injured its owner and caused a fire that burned down the
,house. ABC Company's product and completed operation policy will pay
everything EXCEPT:
Answer: Replacement of Blender
⩥ Strict liability is MOST frequently applied to activities EXCEPT:
Answer: Wild animal
⩥ What auto symbol in the garage coverage form is for autos held for
sale by non-dealers or trailer dealers?
Answer: Symbol 31
⩥ The truckers symbol ___ covers trailers in an individual's possession
under a written trailer or equipment interchange agreement?
Answer: 48
⩥ Which of the following would not be considered an insured under
business auto liability coverage?
Answer: Owner of a borrowed vehicle
⩥ How many coverage options are available under a Garagekeeper's
coverage
Answer: 3
,⩥ If an insured waives PIP coverage, which would be covered if an
accident occurs?
Answer: Passenger in the vehicle
⩥ Which is a creditor listed in an auto policy?
Answer: Loss payee
⩥ When a PIP waiver is signed, there is...
Answer: Medical payment coverage for listed family members under 16
⩥ After a loss occurs to an insured automobile, what must an insured
party do?
Answer: Permit an insurer to inspect the vehicle before it is repaired
⩥ If an insured waives PIP coverage, what would be covered if an
accident occurs?
Answer: Passenger in vehicle
⩥ What is the designated symbol under the Trucker Section 1 for only
owned commercial autos?
Answer: Symbol 43
⩥ When a PIP waiver is signed there is:
, a. No medical payment, coverage for passengers in an insured's vehicle
b. Medical payment coverage for listed family members under the age of
16
c. No medical coverage for pedestrians struct by an insured 's vehicle
d. No coverage for family over the age of 16
Answer: b. Medical payment coverage for listed family members under
the age of 16
⩥ Defamation of one's character would be covered under which
coverage (commercial package policy)?
Answer: Coverage B
⩥ Barbara was injured in a local supermarket's parking lot by a moving
grocery cart that hit her arm. This will be covered under which of the
following:
a. Premises & operations
b. Occurrence liability
c. Claims-made liability
d. Premises liability
Answer: A. Premises & operations
⩥ What is the basis for the Occurrence form trigger?
Answer: Place where an injury or damage occurred
