Final Exam Questions Property and Casualty - NJ STATE EXAM WITH STUDY GUIDE EXAM Accurate 100%(GRADED A+)

Professional liability policies protect against liability resulting from - ANSWER A. Errors and Omissions Page 46 Mini-Tail or Extended. Page 60 - ANSWER B. 60 Days after expiration date Not an exclusion under auto physical damage selection. Page 28 - ANSWER C. Carpools Not a covered territory in the personal auto policy. Page 25 - ANSWER C. Mexico Which is covered under other than collision section of your auto policy. Page 26 - ANSWER A. Hail damage to your car Nationwide Marine Define classifies risks can be written. Page 95 - ANSWER B. Inland marine form Assignment provision of policy to another person without written consent page 51 - ANSWER A. Get permission from insurance Not something of value exchanged policy. Page 13 - ANSWER D. Application given to prospective insured The following are insured under auto policy EXCEPT. Page 38 - ANSWER B. Spouse of name insured NOT living in household Occurrence form trigger based on. Page 17 - ANSWER D. Date injury occurs Maximum coverage bodily injury offered by NJ Full Insurance Underwriting Association. Page 55 - ANSWER D. $500,000.00 Duties of insurer include all of the following EXCEPT - ANSWER B. Notify the insured if financial difficulty List of lines or classes of insurance for there exists no reasonable market among authorized insurers in the state. Page 61 - ANSWER A. Exportable List Which of the following best describes an insurance company that has been formed in home state? Page 99 - ANSWER Domestic Maximum penalty for the 1st violation of insurance law. Page 105 ON State exam! - ANSWER $5,000.00. Which of the following is included in the term insurance related conduct? Page 101 - ANSWER B. Transmitting funds between producers & insurance companies One advantage of claims made forms form insurers point of view. Page 18 - ANSWER B. Prevents the stacking of limits. A date stipulated on Declaration page of claims made policy as 1st date of incident. Page 18 - ANSWER Retroactive date Several years after liability loss a bus owner is made aware of her incident. Page 17 - ANSWER A. Occurrence Policy Supplementary payments are made in. Page 21 - ANSWER B. Addition to the policy Purpose of Commercial Insurance Deregulation Act is page. 59 - ANSWER B. To protect against excessive & unfair rates Certification of license status contains ALl EXcept? Page 110 - ANSWER How long a person is licensed Insurance company cancels your Agency contract . Page 112 - ANSWER B. 15 days Producer must notify Commissioner within how many days of a conviction of a crime. Page 111 - ANSWER 30 Days Defamation best described. page 115 - ANSWER D. Making maliciously critical statements about financial condition of any person or company. When would a misrepresentation on an insurance application be considered fraud? Page 1