NJ Title Exam 2025/2026 Exam
Questions with 100% Correct Answers |
Latest Update
An insurance agent is defined as an individual who transacts business on
behalf of a _______ - 🧠ANSWER ✔✔a client
Knowingly making false statements which are derogatory against and
meant solely to injure another - 🧠ANSWER ✔✔defamation
Type of authority that is either stated orally or in writing and allows an agent
to act on behalf of the insurance company - 🧠ANSWER ✔✔express
authority
Type of authority holds an agent has when any reasonable person
assumes the agent has - 🧠ANSWER ✔✔apparent authority
The chance or uncertainty of loss - 🧠ANSWER ✔✔risk
,Conditions and ground rules for a policy specify - 🧠ANSWER
✔✔obligations and responsibilities for the insurer and the insured
The insuring agreement of a property insurance policy includes -
🧠ANSWER ✔✔promise made by the insurance company to the insured to
provide coverage
Insurable Interest means - 🧠ANSWER ✔✔type of investment that protects
anything subject to a financial loss
A loss for which there is no protection under insurance policy terms -
🧠ANSWER ✔✔exclusion
Modified Whole Life Policies - 🧠ANSWER ✔✔The premium is lower than
normal during the early years and increases to a fixed premium after a 3-5
year period
In which of the DP Forms is the dwelling covered under open perils and the
personal property on a named peril basis - 🧠ANSWER ✔✔DP - 3
In a level term life policy, _______ always remains constant - 🧠ANSWER
✔✔death benefit
This is excluded on DP - 3 coverage - 🧠ANSWER ✔✔Ice damage to homes
, Dwelling Property Policy's cover - 🧠ANSWER ✔✔mountain vacation homes
used on weekends and summers
DP - 1 basic policy covers - 🧠ANSWER ✔✔Lightning Strikes and Not
Earthquakes
Grace periods protect policy holders from - 🧠ANSWER ✔✔unintentional
lapses of the policy
Dwelling Policy conditions describe how an insurance company -
🧠ANSWER ✔✔has the option to repair to pre-loss conditions
The policy and application constitute the complete agreement between the
policyowner and the insurance company - 🧠ANSWER ✔✔Entire Contract
Provision
Is switching the policy from one insured top another an ownership right? -
🧠ANSWER ✔✔NO.
Under the misstatement of age provision, what happens if it is determined
at death that the insured's age or gender was misstated on a life insurance
policy application - 🧠ANSWER ✔✔Benefits are adjusted to an amount that
the premium would have purchased at the correct age or gender
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED
Questions with 100% Correct Answers |
Latest Update
An insurance agent is defined as an individual who transacts business on
behalf of a _______ - 🧠ANSWER ✔✔a client
Knowingly making false statements which are derogatory against and
meant solely to injure another - 🧠ANSWER ✔✔defamation
Type of authority that is either stated orally or in writing and allows an agent
to act on behalf of the insurance company - 🧠ANSWER ✔✔express
authority
Type of authority holds an agent has when any reasonable person
assumes the agent has - 🧠ANSWER ✔✔apparent authority
The chance or uncertainty of loss - 🧠ANSWER ✔✔risk
,Conditions and ground rules for a policy specify - 🧠ANSWER
✔✔obligations and responsibilities for the insurer and the insured
The insuring agreement of a property insurance policy includes -
🧠ANSWER ✔✔promise made by the insurance company to the insured to
provide coverage
Insurable Interest means - 🧠ANSWER ✔✔type of investment that protects
anything subject to a financial loss
A loss for which there is no protection under insurance policy terms -
🧠ANSWER ✔✔exclusion
Modified Whole Life Policies - 🧠ANSWER ✔✔The premium is lower than
normal during the early years and increases to a fixed premium after a 3-5
year period
In which of the DP Forms is the dwelling covered under open perils and the
personal property on a named peril basis - 🧠ANSWER ✔✔DP - 3
In a level term life policy, _______ always remains constant - 🧠ANSWER
✔✔death benefit
This is excluded on DP - 3 coverage - 🧠ANSWER ✔✔Ice damage to homes
, Dwelling Property Policy's cover - 🧠ANSWER ✔✔mountain vacation homes
used on weekends and summers
DP - 1 basic policy covers - 🧠ANSWER ✔✔Lightning Strikes and Not
Earthquakes
Grace periods protect policy holders from - 🧠ANSWER ✔✔unintentional
lapses of the policy
Dwelling Policy conditions describe how an insurance company -
🧠ANSWER ✔✔has the option to repair to pre-loss conditions
The policy and application constitute the complete agreement between the
policyowner and the insurance company - 🧠ANSWER ✔✔Entire Contract
Provision
Is switching the policy from one insured top another an ownership right? -
🧠ANSWER ✔✔NO.
Under the misstatement of age provision, what happens if it is determined
at death that the insured's age or gender was misstated on a life insurance
policy application - 🧠ANSWER ✔✔Benefits are adjusted to an amount that
the premium would have purchased at the correct age or gender
COPYRIGHT©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
3
STATEMENT. ALL RIGHTS RESERVED
