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Casualty Producers License Notes Questions and Answers 100% Solved
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Casualty Producers License Notes
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Casualty Producers License NotesAccording to the New Jersey Workers Compensation laws, who qualifies as an
employee?
a)Any natural person, including an officer of a corporation, who performs services with
no compensation
b)Any natural person, excluding officers of corporations, who performs services with no
compensation
c)Any natural person, including an officer of a corporation, who performs services for an
employer for compensation
d)Any natural person, excluding officers of corporations, who performs services for an
employer for compensation - answerC: Employee is defined as all natural persons,
including officers of corporations, who perform services for an employer for
compensation.
In New Jersey, in the event of cancellation for nonpayment of the premium on an Auto
policy, the insured must be given how many days notice?
a) 5
b) 15
c) 30
d) 60 - answerB: In the event of cancellation for nonpayment of the premium, the
insured must be given 15 days' prior written notice of the insurer's intent.
The employee theft crime policy includes a coverage extension that applies to
employees temporarily outside the coverage territory for up to
a) 30 days.
b) 60 days.
c) 90 days.
d) 120 days. - answerC: The coverage includes a coverage extension that applies to
employees temporarily outside the coverage territory for up to 90 days.
Supplementary payments on a CGL provide all of the following EXCEPT
a) The cost of bonds to release attachment.
b) Up to $500 a day for lost earnings and $2,000 for the cost of bail bonds.
c) $100 in gasoline costs by the insured driving a witness to and from court.
d) Pre-judgment and post-judgment interest. - answerB: Supplementary payments will
cover only $250 for these.
, A plasterer has finished a job. What kind of liability coverage would protect him if the
plaster falls and hurts someone because he did not do the job correctly?
a) Professional errors & omissions (E&O)
b) Completed operations
c) Medical payments
d) Products - answerB: The plasterer's completed operations pays because his
negligence led to the loss. It does not pay to redo the job.
All of the following are supplemental payments included in the liability section of a
personal auto policy EXCEPT
a) Up to $100 for the cost to secure the release of a vehicle from an impoundment lot
following a covered accident.
b) Up to $200 a day for loss of earnings due to attendance at hearings or trials.
c) Premiums on appeal bonds in any suit the insurer defends.
d) Up to $250 for bail bonds required because of a covered accident. - answerA: A
personal auto policy does not pay the cost of the release of a vehicle impounded by a
law enforcement agency.
Which of the following personal auto coverages would pay for the insured's travel
expenses and loss of earnings while involved in the settlement process of a covered
loss?
a) Medical payments
b) Comprehensive coverage
c) Collision coverage
d) Liability coverage - answerD: Supplementary payments, found in Part A - Liability,
include expenses incurred by the insured at the insurer's request, including $200 per
day for attending trials or hearings.
Which of the following statements accurately describes the difference between the two
tort options the named insured must choose from for PIP coverage?
a) One of the options applies to economic losses, and the other to noneconomic losses.
b) One of the options applies only to owners of the auto, and the other applies to
occupants only.
c) One of the options exempts the owner of an auto from liability for noneconomic loss.
d) There is no difference. - answerC: The two tort options are Limitation on Lawsuit and
No Limitation on Lawsuit, and they define whether or not the owner, registrant, operator,
or occupant of an auto is exempt from liability for noneconomic loss.
Alan has a Personal Auto Policy with Part C limits of $100/$300
Uninsured/Underinsured Motorist. Alan is injured by Ben who has Part A limits of
$50/$100. The police determine that Ben is at fault for the accident and Alan's $125,000
of medical expense. How much will Alan's Part C pay?
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