ExamFx Life insurance (New Jersey
Laws, Rules, and Regulations
Common to All Lines) Questions and
Answers 2026
ABlicensedBinsuranceBproducerBmustBnotifyBtheBDepartmentBofBaBchangeBinBmailingBaddressB
withinBhowBmanyBdaysBandBbyBwhatBmethod?B-BAnswer
TheBSupremeBCourtBstatedBthatBinsuranceBisBinterstateBcommerceBandBisBthereforeBsubjectBt
oBregulationBbyBtheBfederalBgovernmentBinBtheBdecisionBofBwhatBcase?B-
BAnswerTheBU.S.BV.BtheBSouth-EasternBUnderwritersBAssociation
OnBaBparticipatingBinsuranceBpolicyBissuedBbyBaBmutualBinsuranceBcompany,BdividendsBpaidBt
oBpolicyholdersBareB-
BAnswerNonBtaxableBsinceBtheBIRSBtreatsBthemBasBaBreturnBofBaBportionBofBtheBpremiumBp
aid
WhatBisBtheBfineBforBviolatingBtheBCommissioner'sBceaseBandBdesistBorder?B-BAnswer$5,000
AnBinsurerBgoesBbankruptBandBisBunableBtoBpayBonBanyBofBitsBinsureds'Bclaims.BWhichBofBth
eBfollowingBwillBhappen?B-
BAnswerTheBclaimsBwillBbeBpaidBbyBtheBstateBLifeBandBHealthBGuarantyBAssociation
WhatBisBaBforeignBinsurer?B-BAnswerAnBinsurerBwithBaBhomeBofficeBinBanotherBstate.
WhichBofBtheBfollowingBwouldBNOTBbeBconsideredBrebating?B-
BAnswerGivingBaBclientBaB$50BpenBwithBtheBinsurer'sBlogoBduringBtheBinsuranceBapplicationB
process.
AnBinsuranceBproducerBrefusedBtoBcomplyBwithBaBsubpoena.BWhatBwouldBbeBtheBproducer's
BpenaltyBforBthisBviolation?B-BAnswerABfineBupBtoB$5,000
TheBDepartmentBcanBrunBaBreportBonBaBspecificBproducerBthatBlistsBhisBorBherBlicenseBinfor
mation,BcurrentBlicenseBstatus,BandBtheBtypesBofBinsuranceBthatBheBorBsheBcanBtransact.BWh
atBisBtheBnameBofBthisBreport?B-BAnswerCertificationBofBLicenseBStatusBReport
, WhatBmethodBdoBinsurersBuseBtoBprotectBthemselvesBagainstBcatastrophicBlosses?B-
BAnswerReinsurance
WhichBofBtheBfollowingBmostBlikelyBwouldBNOTBbeBrequiredBtoBcompleteBcontinuingBeducatio
nBhoursBinBthisBstate?B-BAnswerNonresidentBproducers
AllBofBtheBfollowingBareBconsideredBunfairBtradeBpracticesBinBtheBbusinessBofBinsuranceBEXCE
PT:B-BAnswerSharingBCommissions
TheBMcCarranBActBstatedBthatBtheBfederalBgovernmentBwouldBnotBregulateBinsuranceBasBlong
BasBanBadequateBjobBofBregulatingBtheBindustryBwasBdoneBbyBtheB...B-BAnswerStates.
AllBofBtheBfollowingBprofessionalBdesignationsBareBrecognizedBbyBtheBDepartmentBasBaccepta
bleBsubstitutesBforBeducationBandBexaminationBrequirementsBEXCEPT:B-
BAnswerProfessionalBInsuranceBAgentB(PIA)
WhenBtwinBbrothersBappliedBforBlifeBinsuranceBfromBCompanyBA,BtheBcompanyBfoundBthatB
whileBneitherBofBthemBsmokedBandBbothBhadBaBveryBsimilarBlifeBstyle,BoneBofBtheBtwinsBwa
sBinBaBmuchBbetterBfinancialBpositionBthanBtheBother.BBecauseBofBthis,BtheBcompanyBcharge
dBhimBaBhigherBrateBforBhisBinsurance.BThisBpracticeBisBconsideredB-BAnswerDiscrimination
WhichBofBtheBfollowingBprovidesBfundingBforBtheBNewBJerseyBLifeBandBHealthBGuarantyBAsso
ciation?B-BAnswerMemberBinsurers
U.S.Bv.BSouth-
EasternBUnderwritersBwasBdecidedBinB1944.BToBwhatBextentBdoesBtheBsupremeBcourtBdecisio
nBstillBapplyBtoBinsuranceBtoday?B-
BAnswerItBstillBstandsBinBfull.BInsuranceBisBconsideredBtoBbeBinterstateBcommerceBandBisBther
eforeBsubjectBtoBregulationBbyBtheBfederalBgovernment.
WhichBofBtheBfollowingBtermsBdescribesBmakingBfalseBstatementsBaboutBtheBfinancialBconditio
nBofBanyBinsurerBthatBareBintendedBtoBinjureBanyBpersonBengagedBinBtheBbusinessBofBinsura
nce?B-BAnswerDefamation
AllBofBtheBfollowingBcouldBbeBconsideredBrebatesBifBofferedBtoBanBinsuredBinBtheBsaleBofBins
uranceBEXCEPT:B-BAnswerDividendsBfromBaBmutualBinsurer
Laws, Rules, and Regulations
Common to All Lines) Questions and
Answers 2026
ABlicensedBinsuranceBproducerBmustBnotifyBtheBDepartmentBofBaBchangeBinBmailingBaddressB
withinBhowBmanyBdaysBandBbyBwhatBmethod?B-BAnswer
TheBSupremeBCourtBstatedBthatBinsuranceBisBinterstateBcommerceBandBisBthereforeBsubjectBt
oBregulationBbyBtheBfederalBgovernmentBinBtheBdecisionBofBwhatBcase?B-
BAnswerTheBU.S.BV.BtheBSouth-EasternBUnderwritersBAssociation
OnBaBparticipatingBinsuranceBpolicyBissuedBbyBaBmutualBinsuranceBcompany,BdividendsBpaidBt
oBpolicyholdersBareB-
BAnswerNonBtaxableBsinceBtheBIRSBtreatsBthemBasBaBreturnBofBaBportionBofBtheBpremiumBp
aid
WhatBisBtheBfineBforBviolatingBtheBCommissioner'sBceaseBandBdesistBorder?B-BAnswer$5,000
AnBinsurerBgoesBbankruptBandBisBunableBtoBpayBonBanyBofBitsBinsureds'Bclaims.BWhichBofBth
eBfollowingBwillBhappen?B-
BAnswerTheBclaimsBwillBbeBpaidBbyBtheBstateBLifeBandBHealthBGuarantyBAssociation
WhatBisBaBforeignBinsurer?B-BAnswerAnBinsurerBwithBaBhomeBofficeBinBanotherBstate.
WhichBofBtheBfollowingBwouldBNOTBbeBconsideredBrebating?B-
BAnswerGivingBaBclientBaB$50BpenBwithBtheBinsurer'sBlogoBduringBtheBinsuranceBapplicationB
process.
AnBinsuranceBproducerBrefusedBtoBcomplyBwithBaBsubpoena.BWhatBwouldBbeBtheBproducer's
BpenaltyBforBthisBviolation?B-BAnswerABfineBupBtoB$5,000
TheBDepartmentBcanBrunBaBreportBonBaBspecificBproducerBthatBlistsBhisBorBherBlicenseBinfor
mation,BcurrentBlicenseBstatus,BandBtheBtypesBofBinsuranceBthatBheBorBsheBcanBtransact.BWh
atBisBtheBnameBofBthisBreport?B-BAnswerCertificationBofBLicenseBStatusBReport
, WhatBmethodBdoBinsurersBuseBtoBprotectBthemselvesBagainstBcatastrophicBlosses?B-
BAnswerReinsurance
WhichBofBtheBfollowingBmostBlikelyBwouldBNOTBbeBrequiredBtoBcompleteBcontinuingBeducatio
nBhoursBinBthisBstate?B-BAnswerNonresidentBproducers
AllBofBtheBfollowingBareBconsideredBunfairBtradeBpracticesBinBtheBbusinessBofBinsuranceBEXCE
PT:B-BAnswerSharingBCommissions
TheBMcCarranBActBstatedBthatBtheBfederalBgovernmentBwouldBnotBregulateBinsuranceBasBlong
BasBanBadequateBjobBofBregulatingBtheBindustryBwasBdoneBbyBtheB...B-BAnswerStates.
AllBofBtheBfollowingBprofessionalBdesignationsBareBrecognizedBbyBtheBDepartmentBasBaccepta
bleBsubstitutesBforBeducationBandBexaminationBrequirementsBEXCEPT:B-
BAnswerProfessionalBInsuranceBAgentB(PIA)
WhenBtwinBbrothersBappliedBforBlifeBinsuranceBfromBCompanyBA,BtheBcompanyBfoundBthatB
whileBneitherBofBthemBsmokedBandBbothBhadBaBveryBsimilarBlifeBstyle,BoneBofBtheBtwinsBwa
sBinBaBmuchBbetterBfinancialBpositionBthanBtheBother.BBecauseBofBthis,BtheBcompanyBcharge
dBhimBaBhigherBrateBforBhisBinsurance.BThisBpracticeBisBconsideredB-BAnswerDiscrimination
WhichBofBtheBfollowingBprovidesBfundingBforBtheBNewBJerseyBLifeBandBHealthBGuarantyBAsso
ciation?B-BAnswerMemberBinsurers
U.S.Bv.BSouth-
EasternBUnderwritersBwasBdecidedBinB1944.BToBwhatBextentBdoesBtheBsupremeBcourtBdecisio
nBstillBapplyBtoBinsuranceBtoday?B-
BAnswerItBstillBstandsBinBfull.BInsuranceBisBconsideredBtoBbeBinterstateBcommerceBandBisBther
eforeBsubjectBtoBregulationBbyBtheBfederalBgovernment.
WhichBofBtheBfollowingBtermsBdescribesBmakingBfalseBstatementsBaboutBtheBfinancialBconditio
nBofBanyBinsurerBthatBareBintendedBtoBinjureBanyBpersonBengagedBinBtheBbusinessBofBinsura
nce?B-BAnswerDefamation
AllBofBtheBfollowingBcouldBbeBconsideredBrebatesBifBofferedBtoBanBinsuredBinBtheBsaleBofBins
uranceBEXCEPT:B-BAnswerDividendsBfromBaBmutualBinsurer