Rules, Laws, regulations

Twisting

Agents who persuade insureds to cancel a policy in favor of another one when it might not be in the insured's set interest are guilty of

$5,000, $10,000 and $15,000

The penalties for the first second and any subsequent violation of the new jersey fraud prevention act.

Admitted

Which of the following is the closest term to an authorized insurer

Pay dividends to the policyowner

A participating insurance policy must do which of the following?

10 calendar days

A producer received a group master policy and certificates for delivery to the insured. Within how many days must the policy and certificates be delievered

The insurer will pay all losses through the end of the grace period

A small employer owns a group life insurance policy. The employer does not pay the premium by the premium due date and fails again to pay by the end of the grace period. The insurer cancels the policy. Which of the following is true

Passing the New Jersey licensing examination

All of the following are requirements for a nonresidential license except

30 days

If an insured requires an application in order to reinstate a policy, and if the insured requests reinstatement in writing, an application must be delivered to the insured within

Hold a resident license in good standing in the producers home state

To become a licensed as a nonresident producer in this state, a producer must do which of the following

Producer contact information

Which of the following is not required information a producer must provide before soliciting insurance

(PIA) Professional Insurance Agent

All of the following professional designations are recognized by the department as acceptable substitutes for eduction and examination requirements except

Payments are paid to the borrower's beneficiary

All of the following statements are correct regarding credit life insurance except

Obtain a list of all of the insurance policies that will be replaced

During replacement of the life insurance, a replacing insurer must do which of the following

60 Days

If a credit life policy lapses for nonpayment before the debt is satisfied, within how many days must the creditor either refund the premium paid or apply it against the debt

12 months

If an applicants 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

An agent misrepresents policy benefits to convince a policy owner to replace policies

Rebating is an unfair trade practice and is regulated by the law. All of the following would be considered to be rebating except

A consultant does not sell policies, but only offers advice

What is the difference between an insurance producer and a insurance consultant

Property and casualty

Which of the following licenses is required for a surplus lines producer

Replacement rule

Which rule would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance