NJ TITLE PRODUCER
UNDERWRITING PRACTICES AND
RISK ANALYSIS EXAM
⫸ disapproved within 60 days of submission. No action may be taken
by the legislature until after day one from the state of the standing
reference committees report. Answer: A rule shall be deemed approved
unless
⫸ The commissioner may summon the attendance of witness and the
production of related books, records, accounts, paper and other
documents. Answer: Upon appropriate notice
⫸ was not interstate commerce Answer: In 1869, in the paul vs virgnia
case, the US supreme court ruled that insurance
⫸ was interstate commerce and was subject to federal regulation
Answer: In 1944, in the South Eastern Underwriters Association SEUA
case, the US supreme court ruled that insurance
⫸ federal government Answer: The McCarran-Ferguson Act , passed in
1945 states that while insurance is interstate commerce , it may be
regulated by the individual states subject to the ultimate authority of the
,⫸ revoke the license of the licensee Answer: after 10 days notice in the
form of a show cause order and subsequent hearing, the commissioner
can, as an alternative to or in addition to other penalties
⫸ advising a prospect or insured to buy a particular policy or use a
particular insurer Answer: which of the following activities performed
by an individual working in insurance require that the individual have a
producers license
⫸ 5,000 Answer: any person violating the provisions of the insurance
code can be fined for the first violation up to
⫸ An insurance company organized under the laws of this state
Answer: a domestic insurer is
⫸ alien Answer: an insurer which is formed under the laws of any
country other than the united states, its districts, territories,
commonwealths, and possessions is a/an ________ insurer
⫸ domestic stock Answer: an insurer incorporated in accordance with
the laws of this state with its capital divided into shares(stocks) and
which is owned by its shareholders (stockholders) is a ____________
insurer
⫸ without permanent capital stock (shares) Answer: a domestic mutual
insurer is incorporated in accordance with the laws of this state
, ⫸ can go into your personal account Answer: a commission check
⫸ admin procedures act Answer: where does the commissioner get his
code
⫸ individual states Answer: in the US the insurance industry is primary
regulated by the
⫸ no it is conflict of interest Answer: can a commissioner own a share
of a building
⫸ disorderly persons charge (DP) Answer: someone who knowingly
files a false deed in the state of nj
⫸ NJ Answer: The license at all times is the property of who?
⫸ sales and marketing Answer: one course that will not be approved by
the state of NJ is
⫸ certificate of authority Answer: which of the following does the
commissioner issue to an insurer evidencing their authority to transact
insurance in NJ
⫸ reinsurance Answer: a process by which an originating insurer
(ceding) procures insurance for itself with another insurer (assuming) as
regards all or part of a risk, is called
UNDERWRITING PRACTICES AND
RISK ANALYSIS EXAM
⫸ disapproved within 60 days of submission. No action may be taken
by the legislature until after day one from the state of the standing
reference committees report. Answer: A rule shall be deemed approved
unless
⫸ The commissioner may summon the attendance of witness and the
production of related books, records, accounts, paper and other
documents. Answer: Upon appropriate notice
⫸ was not interstate commerce Answer: In 1869, in the paul vs virgnia
case, the US supreme court ruled that insurance
⫸ was interstate commerce and was subject to federal regulation
Answer: In 1944, in the South Eastern Underwriters Association SEUA
case, the US supreme court ruled that insurance
⫸ federal government Answer: The McCarran-Ferguson Act , passed in
1945 states that while insurance is interstate commerce , it may be
regulated by the individual states subject to the ultimate authority of the
,⫸ revoke the license of the licensee Answer: after 10 days notice in the
form of a show cause order and subsequent hearing, the commissioner
can, as an alternative to or in addition to other penalties
⫸ advising a prospect or insured to buy a particular policy or use a
particular insurer Answer: which of the following activities performed
by an individual working in insurance require that the individual have a
producers license
⫸ 5,000 Answer: any person violating the provisions of the insurance
code can be fined for the first violation up to
⫸ An insurance company organized under the laws of this state
Answer: a domestic insurer is
⫸ alien Answer: an insurer which is formed under the laws of any
country other than the united states, its districts, territories,
commonwealths, and possessions is a/an ________ insurer
⫸ domestic stock Answer: an insurer incorporated in accordance with
the laws of this state with its capital divided into shares(stocks) and
which is owned by its shareholders (stockholders) is a ____________
insurer
⫸ without permanent capital stock (shares) Answer: a domestic mutual
insurer is incorporated in accordance with the laws of this state
, ⫸ can go into your personal account Answer: a commission check
⫸ admin procedures act Answer: where does the commissioner get his
code
⫸ individual states Answer: in the US the insurance industry is primary
regulated by the
⫸ no it is conflict of interest Answer: can a commissioner own a share
of a building
⫸ disorderly persons charge (DP) Answer: someone who knowingly
files a false deed in the state of nj
⫸ NJ Answer: The license at all times is the property of who?
⫸ sales and marketing Answer: one course that will not be approved by
the state of NJ is
⫸ certificate of authority Answer: which of the following does the
commissioner issue to an insurer evidencing their authority to transact
insurance in NJ
⫸ reinsurance Answer: a process by which an originating insurer
(ceding) procures insurance for itself with another insurer (assuming) as
regards all or part of a risk, is called
