NJ Casualty Test Exam Questions and Answers (Solved Papers) when the courts usually resolve any ambiguity in policy wording in favor of the insured this is because what? - Correct Answers ✅Doctrine of reasonable expectations Doctrine of Reasonable Expectations - Correct Answers
✅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? - Correct Answers ✅Settling and paying claims A women slips and falls on icy steps and breaks her leg. What may be a peril in this situation ? - Correct Answers ✅The fall peril - Correct Answers ✅cause of loss Part of the policy that can void the policy if they are breached, weather the breach was intended or not? - Correct Answers ✅Warranties An insured's attempt to mitigate risk ? - Correct Answers ✅Reduction 1 / 2
NJ Casualty Test Exam Questions and Answers (Solved Papers) Type of Insurance the government may step in to provide that is not ordinarily available for private insurers? - Correct Answers ✅Residual Market One party of the contract has greater power over the other in drafting the contract. - Correct Answers ✅Contract of adhesion Personal Insurance contract - Correct Answers ✅An insurance contract insures the person who owns the property, not the actual property itself Excess Line carriers - Correct Answers ✅Non-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 - Correct Answers ✅reinsurance Contract Against Public Policy is not enforceable due to what part of contract - Correct Answers ✅legal purpose tort - Correct Answers ✅a wrongful act or an infringement of a right leading to legal liability.
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