Life Insurance CH.5 (New Jersey
Laws, Rules, and Regulations
Common to All Lines) Questions and
Answers Updated 2026
ABproducersBappointmentBlastBhowBlong?B-BAnswerUntilBitBisBterminated
ABproducer'sBlicenseBwasBrevokedBasBaBresultBofBtheBinsuranceBcodeBviolation.BWhichBofBthe
BfollowingBisBtrue?B-
BAnswerTheBproducerBwillBhaveBtoBwaitB5ByearsBbeforeBapplyingBforBlicenseBreinstatement
OnBaBparticipatingBinsuranceBpolicyBissuedBbyBaBmutualBinsuranceBcompany,BdividendsBpaidBt
oBpolicyholdersBareB-
BAnswerNotBtaxableBsinceBtheBIRSBtreatsBthemBasBaBreturnBofBaBportionBofBtheBpremiumBpa
id.
WhichBofBtheBfollowoingBauthoritiesBisBinBchargeBofBinvestigatingBclaimBheldBagainstBlicenses?
B-BAnswerCommissioner
IfBanBinsuranceBcompanyBmakesBaBstatementBthatBitsBpoliciesBareBguaranteedBbyBtheBexisten
ceBofBtheBInsuranceBGuarantyBAssociation,BthatBwouldBbeBconsideredB-
BAnswerAnBunfairBtradeBpractice
CirculatingBdeceptiveBsalesBmaterialBtoBtheBpublicBisBwhatBtypeBofBUnfairBTradeBPractice?B-
BAnswerFalseBadvertising
ToBbecomeBlicensedBasBaBnonresidentBproducerBinBthisBstate,BaBproducerBmustBdoBwhichBof
BtheBfollowing?B-
BAnswerHoldBaBresidentBlicenseBinBaBgoodBstandingBinBtheBproducersBhomeBstate
IfBanBinsurerBmeetsBtheBstate'sBfinancialBrequirementsBandBisBapprovedBtoBtransactBbusinessB
inBtheBstate,BitBisBconsideredBwhatBtypeBofBinsurer?B-BAnswerAuthorized
ToBcancelBanBinsuranceBproducerBlicense,BtheBproducerBmustB-
BAnswerSendBtheBlicenseBtoBtheBInsuranceBDepartmentBandBrequestBcancellation
Laws, Rules, and Regulations
Common to All Lines) Questions and
Answers Updated 2026
ABproducersBappointmentBlastBhowBlong?B-BAnswerUntilBitBisBterminated
ABproducer'sBlicenseBwasBrevokedBasBaBresultBofBtheBinsuranceBcodeBviolation.BWhichBofBthe
BfollowingBisBtrue?B-
BAnswerTheBproducerBwillBhaveBtoBwaitB5ByearsBbeforeBapplyingBforBlicenseBreinstatement
OnBaBparticipatingBinsuranceBpolicyBissuedBbyBaBmutualBinsuranceBcompany,BdividendsBpaidBt
oBpolicyholdersBareB-
BAnswerNotBtaxableBsinceBtheBIRSBtreatsBthemBasBaBreturnBofBaBportionBofBtheBpremiumBpa
id.
WhichBofBtheBfollowoingBauthoritiesBisBinBchargeBofBinvestigatingBclaimBheldBagainstBlicenses?
B-BAnswerCommissioner
IfBanBinsuranceBcompanyBmakesBaBstatementBthatBitsBpoliciesBareBguaranteedBbyBtheBexisten
ceBofBtheBInsuranceBGuarantyBAssociation,BthatBwouldBbeBconsideredB-
BAnswerAnBunfairBtradeBpractice
CirculatingBdeceptiveBsalesBmaterialBtoBtheBpublicBisBwhatBtypeBofBUnfairBTradeBPractice?B-
BAnswerFalseBadvertising
ToBbecomeBlicensedBasBaBnonresidentBproducerBinBthisBstate,BaBproducerBmustBdoBwhichBof
BtheBfollowing?B-
BAnswerHoldBaBresidentBlicenseBinBaBgoodBstandingBinBtheBproducersBhomeBstate
IfBanBinsurerBmeetsBtheBstate'sBfinancialBrequirementsBandBisBapprovedBtoBtransactBbusinessB
inBtheBstate,BitBisBconsideredBwhatBtypeBofBinsurer?B-BAnswerAuthorized
ToBcancelBanBinsuranceBproducerBlicense,BtheBproducerBmustB-
BAnswerSendBtheBlicenseBtoBtheBInsuranceBDepartmentBandBrequestBcancellation