NJ PROPERTY AND CASUALTY LICENSING
EXAMINATION TEST 2026 COMPLETE
STUDY QUESTIONS AND SOLUTIONS
◉ Utmost Good Faith
Answer: Parties to the contract rely upon the integrity of one
another.
◉ Insuring Agreement
Answer: The section of an insurance policy containing the insurer's
promise to pay, the description of coverage provided and perils
insured against.
◉ Conditions
Answer: The rights and responsibilities of all parties of the contract.
◉ Exclusions
Answer: Rights and responsibilities of both parties to the contract
◉ Monoline Policy
Answer: Policy that covers only one line of business
, ◉ Multiline policy
Answer: Policy that includes more than one type of insurance
coverage.
◉ Property—Personal Lines Insurance
Answer: Dwelling and contents, homeowners , mobile homes,
personal inland marine floaters, personal
watercraft,flood,earthquake
◉ Property—Commercial Lines Insurance
Answer: Business owners BOP, commercial package policy CPP,
boiler and machinery, commercial inland and ocean marine floaters
◉ Casualty— personal lines
Answer: Personal liability, personal auto policy PAP, personal
umbrella policy
◉ Casualty— Commercial lines
Answer: Commercial general liability CGL, Business auto coverage,
workers compensation and liability insurance, surety bonds,
commercial crime insurance and Fidelity bonds, personal liability
insurance, commercial umbrella policies and excess coverages.
EXAMINATION TEST 2026 COMPLETE
STUDY QUESTIONS AND SOLUTIONS
◉ Utmost Good Faith
Answer: Parties to the contract rely upon the integrity of one
another.
◉ Insuring Agreement
Answer: The section of an insurance policy containing the insurer's
promise to pay, the description of coverage provided and perils
insured against.
◉ Conditions
Answer: The rights and responsibilities of all parties of the contract.
◉ Exclusions
Answer: Rights and responsibilities of both parties to the contract
◉ Monoline Policy
Answer: Policy that covers only one line of business
, ◉ Multiline policy
Answer: Policy that includes more than one type of insurance
coverage.
◉ Property—Personal Lines Insurance
Answer: Dwelling and contents, homeowners , mobile homes,
personal inland marine floaters, personal
watercraft,flood,earthquake
◉ Property—Commercial Lines Insurance
Answer: Business owners BOP, commercial package policy CPP,
boiler and machinery, commercial inland and ocean marine floaters
◉ Casualty— personal lines
Answer: Personal liability, personal auto policy PAP, personal
umbrella policy
◉ Casualty— Commercial lines
Answer: Commercial general liability CGL, Business auto coverage,
workers compensation and liability insurance, surety bonds,
commercial crime insurance and Fidelity bonds, personal liability
insurance, commercial umbrella policies and excess coverages.
