NJ PSI PROPERTY AND CASUALTY EXAM
EXAM SCRIPT 2026 COMPLETE Q&A SET
WITH FULL SOLUTIONS
⫸ under the commercial general liability what is covered under
supplementary payments? Answer: cost of bail bonds
⫸ when an insurer selects Symbol 2 on the automobile declarations,
indicating coverage for any auto titled to the insured, what automobile
types will be covered? Answer: owned autos only
⫸ when an individual with a pre-existing condition is in an automobile
accident and the insurance covers rehabilitation only to the level of the
condition prior to the accident, this is because of which principle?
Answer: indemnity
⫸ the insured with split liability limits of 100/300/100 is at fault in an
automobile accident and the other vehicle sustains $6,500 in property
damages as well as two other occupants have bodily injury and are
claiming $150,000 each. what is the MOST insurance will pay to each
occupant? Answer: $100,000
⫸ what defines the chance or uncertainty of loss? Answer: risk
, ⫸ what is considered a hired auto under the commercial auto policy
Symbol 8? Answer: autos the insured leases, borrows, or rents
⫸ what form triggers coverage for a loss under the commercial general
liability policy if a loss happens during the policy period? Answer:
occurrence form
⫸ A bank customer's identity was compromised and the thieves made
numerous purchases from a retailer by signing the customer's checks.
When the bank refused to make payment for the goods, the retailer
brought suit against the bank. Which coverage indemnified the bank for
liability in the suit? Answer: forgery and alteration
⫸ A cable company uses employees to install equipment in customers'
homes. The company purchases a bond from an insurance company to
protect itself from potential dishonest acts of the employees. Which of
the following types of bond does the cable company purchase? Answer:
fidelity bond
⫸ what are covered under Part D - coverage for damage to your auto of
the personal auto policy? Answer: electronic equipment permanently
installed in the auto
⫸ what means that the contract involves two parties: one who makes an
offer and one who accepts it? Answer: agreement
EXAM SCRIPT 2026 COMPLETE Q&A SET
WITH FULL SOLUTIONS
⫸ under the commercial general liability what is covered under
supplementary payments? Answer: cost of bail bonds
⫸ when an insurer selects Symbol 2 on the automobile declarations,
indicating coverage for any auto titled to the insured, what automobile
types will be covered? Answer: owned autos only
⫸ when an individual with a pre-existing condition is in an automobile
accident and the insurance covers rehabilitation only to the level of the
condition prior to the accident, this is because of which principle?
Answer: indemnity
⫸ the insured with split liability limits of 100/300/100 is at fault in an
automobile accident and the other vehicle sustains $6,500 in property
damages as well as two other occupants have bodily injury and are
claiming $150,000 each. what is the MOST insurance will pay to each
occupant? Answer: $100,000
⫸ what defines the chance or uncertainty of loss? Answer: risk
, ⫸ what is considered a hired auto under the commercial auto policy
Symbol 8? Answer: autos the insured leases, borrows, or rents
⫸ what form triggers coverage for a loss under the commercial general
liability policy if a loss happens during the policy period? Answer:
occurrence form
⫸ A bank customer's identity was compromised and the thieves made
numerous purchases from a retailer by signing the customer's checks.
When the bank refused to make payment for the goods, the retailer
brought suit against the bank. Which coverage indemnified the bank for
liability in the suit? Answer: forgery and alteration
⫸ A cable company uses employees to install equipment in customers'
homes. The company purchases a bond from an insurance company to
protect itself from potential dishonest acts of the employees. Which of
the following types of bond does the cable company purchase? Answer:
fidelity bond
⫸ what are covered under Part D - coverage for damage to your auto of
the personal auto policy? Answer: electronic equipment permanently
installed in the auto
⫸ what means that the contract involves two parties: one who makes an
offer and one who accepts it? Answer: agreement
