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NJ LAWS, RULES, AND REGULATIONS COMMON TO LIFE, ACCIDENT, AND HEALTH PROPERTY AND CASUALTY EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED 2024 R160,65
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NJ LAWS, RULES, AND REGULATIONS COMMON TO LIFE, ACCIDENT, AND HEALTH PROPERTY AND CASUALTY EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED 2024
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NJ LAWS, RULES, AND REGULATIONS COMMON TO LIFE, ACCIDENT, AND HEALTH PROPERTY AND CASUALTY EXAM QUESTIONS WITH COMPLETE SOLUTIONS VERIFIED 2024 An insurer cancelled a contract with a producer on April 1st. By what date must the insurer notify the Commissioner of this action? A. April 30th B. A...

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  • May 26, 2024
  • 11
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • nj laws rules and regulations common to life ac

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  • NJ LAWS, RULES, AND REGULATIONS
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NJ LAWS, RULES, AND REGULATIONS COMMON TO LIFE, ACCIDENT, AND HEALTH

PROPERTY AND CASUALTY EXAM QUESTIONS WITH COMPLETE SOLUTIONS

VERIFIED 2024



An insurer cancelled a contract with a producer on April 1st. By what date must

the insurer notify the Commissioner of this action?

A. April 30th

B. April 5th

C. April 11th

D. April 15th

D. April 15th

An insurer goes bankrupt and is unable to pay on any of its insureds' claims.

Which of the following will happen?

A. The insureds will not be paid.

B. The claims will be paid by a nationally-based program.

C. The claims will be paid by the state Life and Health Guaranty Association.

D. The claims will be paid by the state Department of Insurance.

C. The claims will be paid by the state Life and Health Guaranty Association.

Producer's and insurer's actions related to insurance transactions, from selling

insurance to processing claims are referred to as

A. Agent's authority.

B. Insurance-related conduct.

, C. Producer actions.

D. Licensee's responsibilities.

B. Insurance-related conduct.

On a participating insurance policy issued by a mutual insurance company,

dividends paid to policyholders are

A. Guaranteed.

B. Not taxable since the IRS treats them as a return of a portion of the premium

paid.

C. Paid at a fixed rate every year.

D. Taxable as ordinary income.

B. Not taxable since the IRS treats them as a return of a portion of the premium paid.

If a producer has been convicted of a crime, he or she must notify the

Commissioner within

A. 15 days.

B. 20 days.

C. 30 days.

D. 10 days.

C. 30 days.

If an applicant's license has lapsed within the past year, the applicant may apply

for late renewal of the license within the maximum of how many months of

expiration?

A. 3 months

B. 6 months

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