NJ PROPERTY PRODUCER EXAM
Questions and Answers
1. Dwelling Policy
ANS Only insures property
2. DP-1
ANS Basic Form
3. DP-2
ANS Broad Form
4. DP-3
ANS Special Form
5. Dwelling Coverage A
ANS Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the
dwelling.
6. Dwelling Coverage B
ANS Other Structures- Insures buildings on premise but separate from the dwelling.
7. Dwelling Coverage C
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,ANS Personal Property- Covers the insured's personal property and must be requested. If rental
property, a tenant's property is not covered.
8. Dwelling Coverage D
ANS Fair Rental Value- Covers insured in the event a covered loss makes the rental portion of a
property unfit for normal use.
9. Dwelling Coverage E
ANS 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.
10. HO-2
ANS Broad Form. Owner Occupied
11. HO-3
ANS Special Form. Owner Occupied
12. HO-4
ANS Tenants or Renters.
13. HO-5
ANS Comprehensive Form (Open). Covers everything minus named exclusions.
14. HO-6
ANS Condominium Owners
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, 15. HO-8
ANS Modified form. For special Risks. Think Antique homes.
16. Mobile Homes
ANS 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.
17. Time Element Coverage Forms
ANS Business Income. Covers loss of income and expenses due to suspension of business
following a covered loss.
18. Commercial Package Policy (CPP)
ANS Must have at least 2 kinds of coverage.
19. CPP's can't contain
ANS
Workers' Compensation, Life Insurance, Health and Disability Insurance, Certain types of
Professional Liability
20. Equipment Breakdown Coverage
ANS NOT a maintenance policy, Designed to cover breakdown, Failure of pressure or
vacuum equipment, Mechanical failure (including rupture or bursting caused by centrifugal force),
Electrical failure.
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Questions and Answers
1. Dwelling Policy
ANS Only insures property
2. DP-1
ANS Basic Form
3. DP-2
ANS Broad Form
4. DP-3
ANS Special Form
5. Dwelling Coverage A
ANS Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the
dwelling.
6. Dwelling Coverage B
ANS Other Structures- Insures buildings on premise but separate from the dwelling.
7. Dwelling Coverage C
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,ANS Personal Property- Covers the insured's personal property and must be requested. If rental
property, a tenant's property is not covered.
8. Dwelling Coverage D
ANS Fair Rental Value- Covers insured in the event a covered loss makes the rental portion of a
property unfit for normal use.
9. Dwelling Coverage E
ANS 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.
10. HO-2
ANS Broad Form. Owner Occupied
11. HO-3
ANS Special Form. Owner Occupied
12. HO-4
ANS Tenants or Renters.
13. HO-5
ANS Comprehensive Form (Open). Covers everything minus named exclusions.
14. HO-6
ANS Condominium Owners
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, 15. HO-8
ANS Modified form. For special Risks. Think Antique homes.
16. Mobile Homes
ANS 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.
17. Time Element Coverage Forms
ANS Business Income. Covers loss of income and expenses due to suspension of business
following a covered loss.
18. Commercial Package Policy (CPP)
ANS Must have at least 2 kinds of coverage.
19. CPP's can't contain
ANS
Workers' Compensation, Life Insurance, Health and Disability Insurance, Certain types of
Professional Liability
20. Equipment Breakdown Coverage
ANS NOT a maintenance policy, Designed to cover breakdown, Failure of pressure or
vacuum equipment, Mechanical failure (including rupture or bursting caused by centrifugal force),
Electrical failure.
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