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NJ Casualty Test Questions Graded A+
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Exam of 3 pages for the course Nj property and casualty at Nj property and casualty (NJ Casualty Test)
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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.
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