2024 NJ CASUALTY TEST EXAM
WITH CORRECT ANSWERS
when the courts usually resolve any ambiguity in policy wording in favor of
the insured this is because what? - CORRECT-ANSWERSDoctrine of
reasonable expectations
Doctrine of Reasonable Expectations - CORRECT-ANSWERSStates: that a
policy includes coverages that an average person would reasonably expect it
to include, regardless of what the policy actually provides.
Which is not an agent's responsibility to the insured? - CORRECT-
ANSWERSSettling and paying claims
Under CGL which is covered under supplementary payments - CORRECT-
ANSWERScost of bail bonds
which is true When the insured's limits of insurance apply per occurrence -
CORRECT-ANSWERScoverage is triggered for smoke damage to siding
caused by repeated acts by the insured's neighbor
The fair credit reporting act permits consumer reporting agencies to include
applicant information about bankruptcies more than 10 years older. -
CORRECT-ANSWERSthe applicant is seeking a transaction greater than
$150,000
Insured with split liability limits of 100/300/100 is at fault in an auto accident
and the other vehicle sustains $6,500 in property damages as well as two
occupants have bodily injuries and are claiming $150,000 each. What is the
most insurance will pay to each occupant ? - CORRECT-ANSWERS$100,000
Which best describes CGL ? - CORRECT-ANSWERSCoverage A,B, an C apply
ins sum and are the most that will be paid subject to the general aggregate
annual limit.
Insurable Interest - CORRECT-ANSWERSsomething of value that, if lost, would
cause you financial harm
determining an adequate indemnification after a loss is a duty of - CORRECT-
ANSWERSThe insured's insurance company.
WITH CORRECT ANSWERS
when the courts usually resolve any ambiguity in policy wording in favor of
the insured this is because what? - CORRECT-ANSWERSDoctrine of
reasonable expectations
Doctrine of Reasonable Expectations - CORRECT-ANSWERSStates: that a
policy includes coverages that an average person would reasonably expect it
to include, regardless of what the policy actually provides.
Which is not an agent's responsibility to the insured? - CORRECT-
ANSWERSSettling and paying claims
Under CGL which is covered under supplementary payments - CORRECT-
ANSWERScost of bail bonds
which is true When the insured's limits of insurance apply per occurrence -
CORRECT-ANSWERScoverage is triggered for smoke damage to siding
caused by repeated acts by the insured's neighbor
The fair credit reporting act permits consumer reporting agencies to include
applicant information about bankruptcies more than 10 years older. -
CORRECT-ANSWERSthe applicant is seeking a transaction greater than
$150,000
Insured with split liability limits of 100/300/100 is at fault in an auto accident
and the other vehicle sustains $6,500 in property damages as well as two
occupants have bodily injuries and are claiming $150,000 each. What is the
most insurance will pay to each occupant ? - CORRECT-ANSWERS$100,000
Which best describes CGL ? - CORRECT-ANSWERSCoverage A,B, an C apply
ins sum and are the most that will be paid subject to the general aggregate
annual limit.
Insurable Interest - CORRECT-ANSWERSsomething of value that, if lost, would
cause you financial harm
determining an adequate indemnification after a loss is a duty of - CORRECT-
ANSWERSThe insured's insurance company.
