NEW JERSEY TITLE INSURANCE EXAM –QUESTIONS AND
ANSWERS WITH ACCURATE SOLUTIONS 100% VERIFIED
ASSURED SUCCESS
Unfair discrimination
Under NJ law preference in the issuance, withholding,
extension, or renewal of any policy or contract of insurance
solely because of age is prohibited and is defined as
Prohibited
Under NJ insurance law rebating is
Defamation
Making, publishing, disseminating or circulating, directly or
indirectly, or aiding, abetting, or encouraging any oral or
written statement which is false or derogatory to the financial
condition of an insurer, is defined as:
Misrepresentation
Making, issuing, or circulating any estimate, illustration,
circular, or statement that distorts the terms of any policy is
prohibited and defined as
1
,Must Notify the Department within 30 days or can be fined
$250.00
Failing to maintain a complete or accurate business address
Reinsurance
A process by which an originating insurer procures insurance
for itself with another insurer as regards all or part of a risk
is?
Only an insurance producer acting as an insurance broker or
insurance consultant can charge a FEE for services rendered
as and insurance producer. The producer must put the FEE
agreement in writing, and the agreement must
Contain a clear statement of the amount to be charged, contain
a clear statement as to whether or not a commission will be
received from the purchased of insurance, be signed by both
the producer and the insured.
2
,A licensee must file a branch office registration form with the
department, and pay the processing fee, ________ days before
conducting business there
30
In addition to suspension or revocation of the license and
other penalties under the law, if a producer violates any
provisions of the licensing laws the commissioner may impose
a fine up to?
5,000 for the first and 10,00 for each subsequent violation
A person whose producer license is revoked, shall no be
entitled to apply for another insurance license for at least
5 years
An license producer is required to file notice of change of
address within
30 days
3
, A Domestic mutual insurer
An insurer that is incorporated under the laws of New Jersey,
without permanent stock, and its governing body elected by its
policyholders
Which of the following would be considered a non-public
record of a producer
Petitions or discharges in bankruptcy
The penalty for violation of a cease and desist order is
5,000
The commissioner of insurance is appointed by
The governor
The waiting period after the revocation of a producers license
before they may reapply is
5 years from the effective date of revocation
4
ANSWERS WITH ACCURATE SOLUTIONS 100% VERIFIED
ASSURED SUCCESS
Unfair discrimination
Under NJ law preference in the issuance, withholding,
extension, or renewal of any policy or contract of insurance
solely because of age is prohibited and is defined as
Prohibited
Under NJ insurance law rebating is
Defamation
Making, publishing, disseminating or circulating, directly or
indirectly, or aiding, abetting, or encouraging any oral or
written statement which is false or derogatory to the financial
condition of an insurer, is defined as:
Misrepresentation
Making, issuing, or circulating any estimate, illustration,
circular, or statement that distorts the terms of any policy is
prohibited and defined as
1
,Must Notify the Department within 30 days or can be fined
$250.00
Failing to maintain a complete or accurate business address
Reinsurance
A process by which an originating insurer procures insurance
for itself with another insurer as regards all or part of a risk
is?
Only an insurance producer acting as an insurance broker or
insurance consultant can charge a FEE for services rendered
as and insurance producer. The producer must put the FEE
agreement in writing, and the agreement must
Contain a clear statement of the amount to be charged, contain
a clear statement as to whether or not a commission will be
received from the purchased of insurance, be signed by both
the producer and the insured.
2
,A licensee must file a branch office registration form with the
department, and pay the processing fee, ________ days before
conducting business there
30
In addition to suspension or revocation of the license and
other penalties under the law, if a producer violates any
provisions of the licensing laws the commissioner may impose
a fine up to?
5,000 for the first and 10,00 for each subsequent violation
A person whose producer license is revoked, shall no be
entitled to apply for another insurance license for at least
5 years
An license producer is required to file notice of change of
address within
30 days
3
, A Domestic mutual insurer
An insurer that is incorporated under the laws of New Jersey,
without permanent stock, and its governing body elected by its
policyholders
Which of the following would be considered a non-public
record of a producer
Petitions or discharges in bankruptcy
The penalty for violation of a cease and desist order is
5,000
The commissioner of insurance is appointed by
The governor
The waiting period after the revocation of a producers license
before they may reapply is
5 years from the effective date of revocation
4
