Nj Property Producer Exam 2023 2024

Coinsurance {Ans: Total value of insurance should equal 80% of total value.}HO-3 {Ans: Special Form. Owner Occupied}Dwelling Coverage C {Ans: Personal Property- Covers the insured's personal property and must be requested. If rental property, a tenant's property is not covered.}Speculative Risk {Ans: Chance of loss or gain; Not insurable}How long does a temporary insurance license last? {Ans: 180 days}Insuring Agreement {Ans: Promise to pay and perils covered}