NJ Title Exam questions with
correct answers 2024
2025 update
An insurance agent is defined as an individual who transacts business on behalf of
a _______ - Answer a client
Knowingly making false statements which are derogatory against and meant
solely to injure another - Answer defamation
Type of authority that is either stated orally or in writing and allows an agent to
act on behalf of the insurance company - Answer express authority
Type of authority holds an agent has when any reasonable person assumes the
agent has - Answer apparent authority
The chance or uncertainty of loss - Answer risk
Conditions and ground rules for a policy specify - Answer obligations and
responsibilities for the insurer and the insured
The insuring agreement of a property insurance policy includes - Answer promise
made by the insurance company to the insured to provide coverage
,NJ Title Exam questions with
correct answers 2024
2025 update
Insurable Interest means - Answer type of investment that protects anything
subject to a financial loss
A loss for which there is no protection under insurance policy terms - Answer
exclusion
Modified Whole Life Policies - Answer The premium is lower than normal during
the early years and increases to a fixed premium after a 3-5 year period
In which of the DP Forms is the dwelling covered under open perils and the
personal property on a named peril basis - Answer DP - 3
In a level term life policy, _______ always remains constant - Answer death
benefit
This is excluded on DP - 3 coverage - Answer Ice damage to homes
,NJ Title Exam questions with
correct answers 2024
2025 update
Dwelling Property Policy's cover - Answer mountain vacation homes used on
weekends and summers
DP - 1 basic policy covers - Answer Lightning Strikes and Not Earthquakes
Grace periods protect policy holders from - Answer unintentional lapses of the
policy
Dwelling Policy conditions describe how an insurance company - Answer has the
option to repair to pre-loss conditions
The policy and application constitute the complete agreement between the
policyowner and the insurance company - Answer Entire Contract Provision
Is switching the policy from one insured top another an ownership right? - Answer
NO.
Under the misstatement of age provision, what happens if it is determined at
death that the insured's age or gender was misstated on a life insurance policy
, NJ Title Exam questions with
correct answers 2024
2025 update
application - Answer Benefits are adjusted to an amount that the premium would
have purchased at the correct age or gender
______ is NOT a nonforfeiture option available in a Whole Life Policy - Answer
Accumulation at interest
During the first 60 days an automobile policy is in force, when may an insurer
cancel the policy? - Answer by a statement of the specific reason
These are not covered by title insurance - Answer Exclusions
These outline the relationships between insurance companies and the insured -
Answer Conditions
Temporary transfer of title to insurance companies for litigation purposes -
Answer subrogation
This schedule contains policy number, amount, dates, company info, legal
descriptions of property - Answer Schedule A
correct answers 2024
2025 update
An insurance agent is defined as an individual who transacts business on behalf of
a _______ - Answer a client
Knowingly making false statements which are derogatory against and meant
solely to injure another - Answer defamation
Type of authority that is either stated orally or in writing and allows an agent to
act on behalf of the insurance company - Answer express authority
Type of authority holds an agent has when any reasonable person assumes the
agent has - Answer apparent authority
The chance or uncertainty of loss - Answer risk
Conditions and ground rules for a policy specify - Answer obligations and
responsibilities for the insurer and the insured
The insuring agreement of a property insurance policy includes - Answer promise
made by the insurance company to the insured to provide coverage
,NJ Title Exam questions with
correct answers 2024
2025 update
Insurable Interest means - Answer type of investment that protects anything
subject to a financial loss
A loss for which there is no protection under insurance policy terms - Answer
exclusion
Modified Whole Life Policies - Answer The premium is lower than normal during
the early years and increases to a fixed premium after a 3-5 year period
In which of the DP Forms is the dwelling covered under open perils and the
personal property on a named peril basis - Answer DP - 3
In a level term life policy, _______ always remains constant - Answer death
benefit
This is excluded on DP - 3 coverage - Answer Ice damage to homes
,NJ Title Exam questions with
correct answers 2024
2025 update
Dwelling Property Policy's cover - Answer mountain vacation homes used on
weekends and summers
DP - 1 basic policy covers - Answer Lightning Strikes and Not Earthquakes
Grace periods protect policy holders from - Answer unintentional lapses of the
policy
Dwelling Policy conditions describe how an insurance company - Answer has the
option to repair to pre-loss conditions
The policy and application constitute the complete agreement between the
policyowner and the insurance company - Answer Entire Contract Provision
Is switching the policy from one insured top another an ownership right? - Answer
NO.
Under the misstatement of age provision, what happens if it is determined at
death that the insured's age or gender was misstated on a life insurance policy
, NJ Title Exam questions with
correct answers 2024
2025 update
application - Answer Benefits are adjusted to an amount that the premium would
have purchased at the correct age or gender
______ is NOT a nonforfeiture option available in a Whole Life Policy - Answer
Accumulation at interest
During the first 60 days an automobile policy is in force, when may an insurer
cancel the policy? - Answer by a statement of the specific reason
These are not covered by title insurance - Answer Exclusions
These outline the relationships between insurance companies and the insured -
Answer Conditions
Temporary transfer of title to insurance companies for litigation purposes -
Answer subrogation
This schedule contains policy number, amount, dates, company info, legal
descriptions of property - Answer Schedule A
