New York Personal Lines Test 1 Questions & Answers 2024

A passenger in a friend's car is injured while getting into the car. Which of the following statements would apply if both the passenger and the driver had medical payments coverage under a personal auto policy? - The driver's policy would be primary Under the personal auto policy, liability for bodily injury resulting from the insured's use of a nonowned automobile is - Provided by the insured's policy on an excess basis. An employee is injured while visiting the employer's out-of-state site. How will the workers compensation benefits be determined? - Benefits will be provided if the state was listed on the policy information page. What do New Jersey Workers Compensation laws impose on employers for any injury or disease suffered by an employee that arises during the course of employment? - Absolute liability When ABC Appliance's marketing stated that its mowing machine was the only safe mower available for purchase in town, ABC was sued by XYZ Lawn and Garden. ABC's coverage would come from which part of its general liability coverage? - Personal and advertising injury liability What is the maximum amount of UM/UIM coverage that may be purchased in this state?- $250,000/$500,000/$100,000 Which of the following statements concerning the Automobile Insurance UEZ Program is correct? - The program was established to increase the availability of insurance in urban areas. New Jersey Workers Compensation law provides a schedule of benefits - Without regard to fault or negligence on the employer's part. Bob insists that the insurer owes him $10,000 for liability damages, while his insurer asserts that they owe him no more than $7,000. Which of the following would most likely describe the type of claim settlement that they might pursue? - Arbitration The policy conditions define - How parties to the contract must act following a loss. If an insurer and insured have a dispute about whether a particular loss is covered under a policy, which authority will settle the dispute? - Court system Which of the following vehicles must have several options regarding deductibles in New Jersey? - Private passenger vehicles The designation symbols used in commercial auto policies can be found in which policy section?- Covered Auto Insurable interest in a property policy must be proven - At the time of loss. In personal auto policies, the term "you" refers to - The named insured. An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action? - April 15th Which of the following is a mandatory part of an insurance policy that varies with each individual policy? - Declarations Which of the following statements is NOT true regarding a personal umbrella liability policy? - It provides errors and omissions coverage for an agency. If an insurer meets the state's financial requirements and is approved to transact business in the state, it is considered to be - Authorized.