Exam (elaborations)
NJ Casualty Test Questions Graded A+
- Course
- Institution
Exam of 3 pages for the course Nj property and casualty at Nj property and casualty (NJ Casualty Test)
[Show more]
Content preview
NJ Casualty Testwhen the courts usually resolve any ambiguity in policy wording in favor of the insured
this is because what? - answer Doctrine of reasonable expectations
Doctrine of Reasonable Expectations - answer States: that a policy includes coverages
that an average person would reasonably expect it to include, regardless of what the
policy actually provides.
Which is not an agent's responsibility to the insured? - answer Settling and paying
claims
A women slips and falls on icy steps and breaks her leg. What may be a peril in this
situation ? - answer The fall
peril - answer cause of loss
Part of the policy that can void the policy if they are breached, weather the breach was
intended or not? - answer Warranties
An insured's attempt to mitigate risk ? - answer Reduction
Type of Insurance the government may step in to provide that is not ordinarily available
for private insurers? - answer Residual Market
One party of the contract has greater power over the other in drafting the contract. -
answer Contract of adhesion
Personal Insurance contract - answer An insurance contract insures the person who
owns the property, not the actual property itself
Excess Line carriers - answerNon-admitted/unlicensed carrier who is held to different
regulations than other carriers.
Protects insurance companies from catastrophic losses and from wild fluctuations in
underwriting results - answerreinsurance
Contract Against Public Policy is not enforceable due to what part of contract -
answerlegal purpose
tort - answera wrongful act or an infringement of a right leading to legal liability.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78861 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now