NJ P&C Insurance Exam 2023 Questions and Answers. (Graded A+)

A flood damages a single-family dwelling that is in a community in the early stages of participation in the NFIP, but they are not yet considered participating. What is the maximum a resident may receive for damages to their personal property? - ANSWER-$10,000 Under the Dwelling Broad Form, losses to an unattached garage are paid on which basis? - ANSWER-Replacement Cost Which of the following is false regarding the Building and Personal Property Coverage Form? - ANSWER-The policy covers vehicles licensed for road use In which type of system does an employer have the choice to provide Workers' Compensation benefits at its own option? - ANSWER-Elective When coverage applies to losses from all perils except those specifically excluded, the policy is said to be written on which of the following basis? - ANSWER-Open Perils