NJ LIFE INSURANCE EXAM STUDY SET 1 QUESTIONS AND
ANSWERS GRADED A+ 100% GUARANTEED SUCCESS.
What organization protects persons against failure of life and health
insurance policies and annuity contracts because of the impairment or
insolvency of the insurer?
Select one:
a. PPACA
b. New Jersey Insurance Board
c. New Jersey Insolvency Protection Board
d. New Jersey Life and Health Guaranty Association ANS >>> d. New
Jersey Life and Health Guaranty Association
The United States v. South-Eastern Underwriters Association decision
ruled that insurance transactions crossing state lines are:
Select one:
a. Considered intrastate commerce
b. Not interstate commerce
,c. Interstate commerce
d. Unenforceable ANS >>> c. Interstate Commerce
What is the monetary penalty for multiple knowing violations of the
information privacy rules?
Select one:
a. $2,500
b. $5,000
c. $7,500
d. $10,000 ANS >>> d. $10,000
Which of the following would NOT be considered unfair discrimination?
Select one:
a. Discrimination abased on genetics
b. Discrimination abased on DNA
c. Discrimination abased on blindness
d. Discrimination abased on occupation ANS >>> d. Discrimination
based on occupation
An insurance producer who places insurance in an insurance company
that he does not represent as an agent is an:
Select one:
a. Insurance counsellor
,b. Insurance solicitor
c. Insurance consultant
d. Insurance broker ANS >>> d. Insurance Broker
Which of the following is NOT true of an employment contract between
a company and a producer?
Select one:
a. The employment contract must be in writing.
b. The employment contract must include all license authorities of the
parties.
c. An employer must notify the Department.
d. The employer must examine the credentials of the employee. ANS
>>> b. The employment contract must include all license authorities of
the parties.
Inducing a policyholder to switch insurance companies without regard
to bad consequences is:
Select one:
a. Boycott
b. Churning
c. Twisting
d. Defamation ANS >>> c. Twisting
, If the Department determines that an applicant is unqualified, the
Department must transmit it for a hearing to the:
Select one:
a. Office of the Attorney General
b. Office of Administrative Law
c. State Insurance Committee of the legislature
d. Licensing Review Board ANS >>> b. Office of Administrative Law
If the Commissioner determines that someone has engaged in an unfair
method of competition, he will issue:
Select one:
a. A cease and desist order
b. A contempt of court order
c. A revocation of license decree
d. An arrest warrant ANS >>> a. A cease-and-desist order
Existence of a business relationship between two licensed producers by
which each act as an independent contractor:
Select one:
a. May require the filing of any notice
b. May not require the filing of any notice
c. May create responsibility for the acts of the other in the absence of
knowledge
ANSWERS GRADED A+ 100% GUARANTEED SUCCESS.
What organization protects persons against failure of life and health
insurance policies and annuity contracts because of the impairment or
insolvency of the insurer?
Select one:
a. PPACA
b. New Jersey Insurance Board
c. New Jersey Insolvency Protection Board
d. New Jersey Life and Health Guaranty Association ANS >>> d. New
Jersey Life and Health Guaranty Association
The United States v. South-Eastern Underwriters Association decision
ruled that insurance transactions crossing state lines are:
Select one:
a. Considered intrastate commerce
b. Not interstate commerce
,c. Interstate commerce
d. Unenforceable ANS >>> c. Interstate Commerce
What is the monetary penalty for multiple knowing violations of the
information privacy rules?
Select one:
a. $2,500
b. $5,000
c. $7,500
d. $10,000 ANS >>> d. $10,000
Which of the following would NOT be considered unfair discrimination?
Select one:
a. Discrimination abased on genetics
b. Discrimination abased on DNA
c. Discrimination abased on blindness
d. Discrimination abased on occupation ANS >>> d. Discrimination
based on occupation
An insurance producer who places insurance in an insurance company
that he does not represent as an agent is an:
Select one:
a. Insurance counsellor
,b. Insurance solicitor
c. Insurance consultant
d. Insurance broker ANS >>> d. Insurance Broker
Which of the following is NOT true of an employment contract between
a company and a producer?
Select one:
a. The employment contract must be in writing.
b. The employment contract must include all license authorities of the
parties.
c. An employer must notify the Department.
d. The employer must examine the credentials of the employee. ANS
>>> b. The employment contract must include all license authorities of
the parties.
Inducing a policyholder to switch insurance companies without regard
to bad consequences is:
Select one:
a. Boycott
b. Churning
c. Twisting
d. Defamation ANS >>> c. Twisting
, If the Department determines that an applicant is unqualified, the
Department must transmit it for a hearing to the:
Select one:
a. Office of the Attorney General
b. Office of Administrative Law
c. State Insurance Committee of the legislature
d. Licensing Review Board ANS >>> b. Office of Administrative Law
If the Commissioner determines that someone has engaged in an unfair
method of competition, he will issue:
Select one:
a. A cease and desist order
b. A contempt of court order
c. A revocation of license decree
d. An arrest warrant ANS >>> a. A cease-and-desist order
Existence of a business relationship between two licensed producers by
which each act as an independent contractor:
Select one:
a. May require the filing of any notice
b. May not require the filing of any notice
c. May create responsibility for the acts of the other in the absence of
knowledge
