NJ PSI Property and Casualty Exam EXAM NEWEST,
2025/ 2026, ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
|ALREADY
GRADED A
Under an NFIP Flood policy, producers may issue blinders to effect flood coverage for? A. $50,000.
B. $100,000.
C. $250,000.
D. producers may not issue binders to effect flood coverage. ......answer.....D.
Producers may not issue binders to effect flood coverage.
In property insurance, insurable interest must exist at the/ A. Inception of the policy.
B. Time of the premium payment.
C. Time of the application.
D. Time of the loss. ......answer.....D. Time of the loss.
Under an NFIP Flood policy, in most cases the waiting period before a new policy can be made effective is? A. 10 days.
B. 20 days.
C. 30 days.
D. 60 days. ......answer.....C. 30 days.
If your baby sitter falls down the stairs in your home and breaks her leg, her injury will be covered by?
A. Your Homeowners policy.
B. Your Medical Insurance policy.
C. The babysitter's Homeowners policy.
D. The babysitter's Medical Insurance policy. ......answer.....A. Your Homeowners policy.
On Homeowners policies, the full limit on personal property (Coverage C) applies to personal property while it is?
A. In the state of residence only.
B. In the United States only.
C. Anywhere in the world.
D. In the United States and Canada only. ......answer.....C. Anywhere in the world.
Under an NFIP Flood policy, there is coverage for? A. Both direct damage and loss of use.
1
, B. Direct damage only.
C. Loss of use only.
D. Consequential loss only. ......answer.....B. Direct damage only.
Loses to which of the following are not covered under Homeowners policies? A. Property of roomers or boarders.
B. Articles separately described and specifically covered by other insurance.
C. Animals, birds, and fish.
D. All of the above. ......answer.....D. All of the above.
A scheduled Personal Property Endorsement is usually written on a ______ basis?
A. Special Perils.
B. Named Perils.
C. Premises.
D. Blanket. ......answer.....A. Special Perils.
Under Homeowners policies, Section II, the basic limit for Personal Liability Coverage is? A. $50,000.
B. $75,000.
C. $100,000.
D. $150,000. ......answer.....C. $100,000.
Under Section II Additional Coverage's of Homeowners policies, the insurer agrees to pay?
A. The costs of defending a claim.
B. Premiums on bonds required in a suit.
C. Court costs.
D. All of the above. ......answer.....D. All of the above.
Under Homeowners and other policies, ACV is the abbreviation for which property insurance valuation?
A. Approved Coverage Valuation.
B. Approximate Cash Value.
C. Actual Coverage Valuation.
D. Actual Cash Value. ......answer.....D. Actual Cash Value.
Under Homeowners and other policies, the definition of the property insurance valuation known as Actual Cash Value
(ACV) is? A. Replacement Cost plus a cash payment.
B. Replacement Cost minus the cost of new material.
C. Replacement Cost minus depreciation.
2
2025/ 2026, ACTUAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
|ALREADY
GRADED A
Under an NFIP Flood policy, producers may issue blinders to effect flood coverage for? A. $50,000.
B. $100,000.
C. $250,000.
D. producers may not issue binders to effect flood coverage. ......answer.....D.
Producers may not issue binders to effect flood coverage.
In property insurance, insurable interest must exist at the/ A. Inception of the policy.
B. Time of the premium payment.
C. Time of the application.
D. Time of the loss. ......answer.....D. Time of the loss.
Under an NFIP Flood policy, in most cases the waiting period before a new policy can be made effective is? A. 10 days.
B. 20 days.
C. 30 days.
D. 60 days. ......answer.....C. 30 days.
If your baby sitter falls down the stairs in your home and breaks her leg, her injury will be covered by?
A. Your Homeowners policy.
B. Your Medical Insurance policy.
C. The babysitter's Homeowners policy.
D. The babysitter's Medical Insurance policy. ......answer.....A. Your Homeowners policy.
On Homeowners policies, the full limit on personal property (Coverage C) applies to personal property while it is?
A. In the state of residence only.
B. In the United States only.
C. Anywhere in the world.
D. In the United States and Canada only. ......answer.....C. Anywhere in the world.
Under an NFIP Flood policy, there is coverage for? A. Both direct damage and loss of use.
1
, B. Direct damage only.
C. Loss of use only.
D. Consequential loss only. ......answer.....B. Direct damage only.
Loses to which of the following are not covered under Homeowners policies? A. Property of roomers or boarders.
B. Articles separately described and specifically covered by other insurance.
C. Animals, birds, and fish.
D. All of the above. ......answer.....D. All of the above.
A scheduled Personal Property Endorsement is usually written on a ______ basis?
A. Special Perils.
B. Named Perils.
C. Premises.
D. Blanket. ......answer.....A. Special Perils.
Under Homeowners policies, Section II, the basic limit for Personal Liability Coverage is? A. $50,000.
B. $75,000.
C. $100,000.
D. $150,000. ......answer.....C. $100,000.
Under Section II Additional Coverage's of Homeowners policies, the insurer agrees to pay?
A. The costs of defending a claim.
B. Premiums on bonds required in a suit.
C. Court costs.
D. All of the above. ......answer.....D. All of the above.
Under Homeowners and other policies, ACV is the abbreviation for which property insurance valuation?
A. Approved Coverage Valuation.
B. Approximate Cash Value.
C. Actual Coverage Valuation.
D. Actual Cash Value. ......answer.....D. Actual Cash Value.
Under Homeowners and other policies, the definition of the property insurance valuation known as Actual Cash Value
(ACV) is? A. Replacement Cost plus a cash payment.
B. Replacement Cost minus the cost of new material.
C. Replacement Cost minus depreciation.
2
