Nj Property/ Casualty Insurance Exam Set Study Guide 2024 Updates

Bill just received his temporary work order. When will it expire? A. In 20 days B. In 30 days C. In 60 days D. In 90 days {Ans: C. In 60 days}Insureds have a right to cancel their policy at any time and any unearned premium must be refunded. There is a cancellation penalty that will be applied called... {Ans: A short rate}What is the maximum amount of insurance a FAIR plan policy could purchase? {Ans: $1, 500,000}What is the fine for if a license fee check is returned for insufficient funds? {Ans: $500}What is the basis for the Occurrence form trigger? {Ans: Place where an injury or damage occurred}Who approves hurricane insurance deductibles in NJ? {Ans: Dept of Banking & Insurance or Insurance Commissioner}