NJ PSI PROPERTY AND CASUALTY EXAM

NJ PSI PROPERTY AND CASUALTY EXAM

NEWEST 2024 ACTUAL EXAM 200 QUESTIONS

AND CORRECT DETAILED ANSWERS

|ALREADY GRADED A

Dwelling coverage A includes all of the following except?

• The dwelling.
• The deck on the back of the dwelling.
• A Gazebo.
• Construction materials on the residence premises for use in the repair

of the dwelling. - ANSWER- C. A Gazebo.

Under Homeowners policies, the base deductible applicable to property losses, Section I, is?

A. $100

B. $250

C. $500

D. $1000 - ANSWER- B. $250

The National Flood Insurance Program (NFIP) is a ________ program?

• State.
• Municipal.
• Federal. 1 / 4

• Worldwide. - ANSWER- C. Federal.

All of the following are optional coverage's under Homeowners policies except?

• Personal Property Replacement Cost coverage.
• Increased coverage limits from items suck as jewelry, furs, and

silverware.

• Loss of Use coverage.
• Earthquake coverage. - ANSWER- C. Loss of Use Coverage.

The National Flood Insurance Program (NFIP) standards are set by, and the Program is administered by, the?

• National Flood Management Association (NFMA)
• National Emergency Standards Agency (NESA)
• Federal Flood Coverage Association (FFCA)
• Federal Emergency Management Agency (FEMA) - ANSWER- D.

Federal Emergency Management Agency (FEMA)

Under Homeowners policies, which of the following is/are considered optional property coverage endorsement(s)?

• Earthquake.
• Fine Arts.
• Replacement Cost coverage on personal property.
• All of the above. - ANSWER- D. All of the above.
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Under an NFIP Flood policy, flood is broadly defined as all of the following except?

• The overflow of inland or tidal waters.
• Mudflow, a river of liquid and flowing mud on the surfaces of

normally dry land area, as when earth is carried by a current of water.

• Heavy, driving sheets of wind blown rain.
• The collapse of subsidence of land along the shore of a lake or similar

body of water as a result of erosion or undermining caused by waves or currents of water exceeding anticipated cyclical levels that result in a flood. - ANSWER- C. Heavy, driving sheets of wind blown rain.

Under an NFIP Flood policy, in most cases the waiting period before a new policy can be made effective is?

• 10 days.
• 20 days.
• 30 days.
• 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?

• Your Homeowners policy.
• Your Medical Insurance policy.
• The babysitter's Homeowners policy.
• The babysitter's Medical Insurance policy. - ANSWER- A. Your

Homeowners policy. 3 / 4

On Homeowners policies, the full limit on personal property (Coverage

• applies to personal property while it is?
• In the state of residence only.
• In the United States only.
• Anywhere in the world.
• In the United States and Canada only. - ANSWER- C. Anywhere in

the world.

Under an NFIP Flood policy, there is coverage for?

• Both direct damage and loss of use.
• Direct damage only.
• Loss of use only.
• Consequential loss only. - ANSWER- B. Direct damage only.

Loses to which of the following are not covered under Homeowners policies?

• Property of roomers or boarders.
• Articles separately described and specifically covered by other

insurance.

• Animals, birds, and fish.
• All of the above. - ANSWER- D. All of the above.

A scheduled Personal Property Endorsement is usually written on a ______ basis?

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