NJ P&C Insurance Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) 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? - Correct Answers ✅$10,000 Under the Dwelling Broad Form, losses to an unattached garage are paid on which basis? - Correct Answers ✅Replacement Cost Which of the following is false regarding the Building and Personal Property Coverage Form? - Correct Answers ✅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? - Correct Answers ✅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? - Correct Answers ✅Open Perils A manufacturer is held liable if a product caused an injury whether the product was or was not defective. This describes what type of liability? - Correct Answers ✅Strict 1 / 4
NJ P&C Insurance Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Which of the following perils is not covered by Crop/Hail insurance? - Correct Answers ✅Failure to harvest Which of the following is not true concerning Section II of the Homeowners Policy? - Correct Answers ✅The Damage to Property of Others duplicates coverage that is included in Section I Who among the following may place business with the Association? - Correct Answers ✅All producers licensed to do business in the state Which of the following losses would be covered under all dwelling forms? - Correct Answers ✅Fire damage to building materials and supplies that are located on the insured premises All of the following are false about Damage to Your Auto,
except: - Correct Answers ✅In the event of total loss,
adjustment will be made for the physical condition of the vehicle Which of the following statements is not true about a claim payment for a collision loss under the PAP? - Correct Answers ✅If the insurer recovers and returns stolen property to the insured, no further payment is due 2 / 4
NJ P&C Insurance Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Choose the physical damage claim that would be covered under the Personal Auto Policy. - Correct Answers ✅Malicious mischief to the tires A building valued at $200,000 is insured for $150,000 with an 80% coinsurance requirement and a $1,000 deductible. After the building is totally destroyed, incurring debris removal expenses of $10,000, how much will the Building and Personal Property Coverage Form pay? - Correct Answers
✅$159,000
Which of the following would not be covered under Coverage C of the Special Dwelling Form? - Correct Answers ✅The insured's golden retriever
Fine arts and antiques are classes of property insured on a: -
Correct Answers ✅Valued basis Flood is a specified cause of loss under which section of the Garage Coverage Form? - Correct Answers ✅Section IV
A hazard is best defined as: - Correct Answers ✅Something
that increases the chance of loss 3 / 4
NJ P&C Insurance Exam Past Exam QUESTIONS AND ANSWERS 100% score (reupdated 2025) Which statement is true concerning Dwelling policies? - Correct Answers ✅The Special Form insures the dwelling on an open perils basis, and insures the contents against the broad form perils Which of the following is true under the Dwelling policy? - Correct Answers ✅The Basic Form covers the perils of fire, lightning and internal explosion Rates are referred to as which of the following when the insurance company files for approval and then implements the rates? - Correct Answers ✅File and Use Which of the following is not true about an insurance policy? - Correct Answers ✅The insuring agreement includes the name of the insured Which of the following is not an implied warranty in relation to Ocean Marine Insurance? - Correct Answers ✅Full value
All of the following are true of a Yacht Policy, except: -
Correct Answers ✅A yacht is covered regardless of its location
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