NJ TITLE EXAM QUESTIONS WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Course
NJ TITLE
Institution
NJ TITLE
An insurance agent is defined as an individual who transacts business on behalf of a _______ - ACCURATE ANSWERS a client
Knowingly making false statements which are derogatory against and meant solely to injure another - ACCURATE ANSWERS defamation
Type of authority that is either stated oral...
NJ TITLE EXAM QUESTIONS
NJ TITLE EXAM QUESTIONS WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
An insurance agent is defined as an individual who transacts business on
behalf of a _______ - ACCURATE ANSWERS✔✔ a client
Knowingly making false statements which are derogatory against and
meant solely to injure another - ACCURATE ANSWERS✔✔
defamation
Type of authority that is either stated orally or in writing and allows an
agent to act on behalf of the insurance company - ACCURATE
ANSWERS✔✔ express authority
Type of authority holds an agent has when any reasonable person
assumes the agent has - ACCURATE ANSWERS✔✔ apparent authority
,The chance or uncertainty of loss - ACCURATE ANSWERS✔✔ risk
Conditions and ground rules for a policy specify - ACCURATE
ANSWERS✔✔ obligations and responsibilities for the insurer and the
insured
The insuring agreement of a property insurance policy includes -
ACCURATE ANSWERS✔✔ promise made by the insurance company
to the insured to provide coverage
Insurable Interest means - ACCURATE ANSWERS✔✔ type of
investment that protects anything subject to a financial loss
A loss for which there is no protection under insurance policy terms -
ACCURATE ANSWERS✔✔ exclusion
Modified Whole Life Policies - ACCURATE ANSWERS✔✔ The
premium is lower than normal during the early years and increases to a
fixed premium after a 3-5 year period
In which of the DP Forms is the dwelling covered under open perils and
the personal property on a named peril basis - ACCURATE
ANSWERS✔✔ DP - 3
In a level term life policy, _______ always remains constant -
ACCURATE ANSWERS✔✔ death benefit
, This is excluded on DP - 3 coverage - ACCURATE ANSWERS✔✔ Ice
damage to homes
Dwelling Property Policy's cover - ACCURATE ANSWERS✔✔
mountain vacation homes used on weekends and summers
DP - 1 basic policy covers - ACCURATE ANSWERS✔✔ Lightning
Strikes and Not Earthquakes
Grace periods protect policy holders from - ACCURATE
ANSWERS✔✔ unintentional lapses of the policy
Dwelling Policy conditions describe how an insurance company -
ACCURATE ANSWERS✔✔ has the option to repair to pre-loss
conditions
The policy and application constitute the complete agreement between
the policyowner and the insurance company - ACCURATE
ANSWERS✔✔ Entire Contract Provision
Is switching the policy from one insured top another an ownership right?
- ACCURATE ANSWERS✔✔ NO.
Under the misstatement of age provision, what happens if it is
determined at death that the insured's age or gender was misstated on a
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