NJ Property Producer Exam
Questions and Answers 100%
PASS
Dwelling Policy—ANSWER-Only insures property
DP-1—ANSWER-Basic Form
DP-2—ANSWER-Broad Form
DP-3—ANSWER-Special Form
Dwelling Coverage A—ANSWER-Dwelling- Covers dwelling, structures
attached to dwelling, and materials/supplies for the dwelling.
Dwelling Coverage B—ANSWER-Other Structures- Insures buildings on
premise but separate from the dwelling.
Dwelling Coverage C—ANSWER-Personal Property- Covers the insured's
personal property and must be requested. If rental property, a tenant's
property is not covered.
Dwelling Coverage D—ANSWER-Fair Rental Value- Covers insured in the
event a covered loss makes the rental portion of a property unfit for normal
use.
, Dwelling Coverage E—ANSWER-Additional Living Expense- Included in DP-2
& DP-3 and pays for additional living expenses the insured incurs after a
loss. DP-1 by endorsement.
HO-2—ANSWER-Broad Form. Owner Occupied
HO-3—ANSWER-Special Form. Owner Occupied
HO-4—ANSWER-Tenants or Renters.
HO-5—ANSWER-Comprehensive Form (Open). Covers everything minus
named exclusions.
HO-6—ANSWER-Condominium Owners
HO-8—ANSWER-Modified form. For special Risks. Think Antique homes.
Mobile Homes—ANSWER-By endorsement to a DP or HO policy. Can be a
separate policy. Insures home, other structures (10%) and contents.
Personal property - 40% of coverage. Permanent Foundation.
Time Element Coverage Forms—ANSWER-Business Income. Covers loss of
income and expenses due to suspension of business following a covered
loss.
Commercial Package Policy (CPP)—ANSWER-Must have at least 2 kinds of
coverage.
CPP's can't contain:—ANSWER-Workers' Compensation, Life Insurance,
Health and Disability Insurance, Certain types of Professional Liability
Equipment Breakdown Coverage—ANSWER-NOT a maintenance policy,
Designed to cover breakdown, Failure of pressure or vacuum equipment,
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Katelyn Whitman
Questions and Answers 100%
PASS
Dwelling Policy—ANSWER-Only insures property
DP-1—ANSWER-Basic Form
DP-2—ANSWER-Broad Form
DP-3—ANSWER-Special Form
Dwelling Coverage A—ANSWER-Dwelling- Covers dwelling, structures
attached to dwelling, and materials/supplies for the dwelling.
Dwelling Coverage B—ANSWER-Other Structures- Insures buildings on
premise but separate from the dwelling.
Dwelling Coverage C—ANSWER-Personal Property- Covers the insured's
personal property and must be requested. If rental property, a tenant's
property is not covered.
Dwelling Coverage D—ANSWER-Fair Rental Value- Covers insured in the
event a covered loss makes the rental portion of a property unfit for normal
use.
, Dwelling Coverage E—ANSWER-Additional Living Expense- Included in DP-2
& DP-3 and pays for additional living expenses the insured incurs after a
loss. DP-1 by endorsement.
HO-2—ANSWER-Broad Form. Owner Occupied
HO-3—ANSWER-Special Form. Owner Occupied
HO-4—ANSWER-Tenants or Renters.
HO-5—ANSWER-Comprehensive Form (Open). Covers everything minus
named exclusions.
HO-6—ANSWER-Condominium Owners
HO-8—ANSWER-Modified form. For special Risks. Think Antique homes.
Mobile Homes—ANSWER-By endorsement to a DP or HO policy. Can be a
separate policy. Insures home, other structures (10%) and contents.
Personal property - 40% of coverage. Permanent Foundation.
Time Element Coverage Forms—ANSWER-Business Income. Covers loss of
income and expenses due to suspension of business following a covered
loss.
Commercial Package Policy (CPP)—ANSWER-Must have at least 2 kinds of
coverage.
CPP's can't contain:—ANSWER-Workers' Compensation, Life Insurance,
Health and Disability Insurance, Certain types of Professional Liability
Equipment Breakdown Coverage—ANSWER-NOT a maintenance policy,
Designed to cover breakdown, Failure of pressure or vacuum equipment,
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law, Copyrighted By Katelyn Whitman
