NJ Title Insurance Exam updated 2023/24 Reloaded| 100% verified

NJ Title Insurance Exam updated 2023/24 Reloaded| 100% verified In 1869 in Paul vs Virginia case the the US Supreme Court ruled that insurance? - Was not interstate Commerce. In 1944, in the South-Eastern Underwritters Association (SEUA) case, the U.S. Supreme Court ruled that insurance? - Was interstate commerce and was subject to Federal regulation. The McCarran-Ferguson Act of 1945 states that individual states are subject to the authority of the? - Federal Government Activities performed to have a Producer's License - Advising a prospect or insured to buy a particular policy or use a particular insurer First violation of the Insurance code - $5,000 a domestic insurer is? - a insurance company organized under the laws of the state A domestic Mutual insurer is Incorporated in accordance with the laws of this state? - Without permanent Capital stock (shares) an insurer which is formed under the laws of any other country - alien Insurer evidencing their authority to transact insurance in New Jersey - certificate of authority Insurer (ceding) procures insurance with another insurer (assuming) and takes all or part of risk - Renaissance An Insurance Consultant can act on behalf of (Advise ,Council, Serve)? - Insured, Licensee, Any other person a branch office cannot be open or operated unless? - one broker is present during business hours except when engaged in Branch activities elsewhere No individual may be licensed as a producer unless they are at least? - 18 years of age A producer is required to file written notification of any change of address within? - 30 days A Surplus lines can be obtained by a property, casualty producer after completion of - The state Surplus Lines exam with no course requirements First and subsequent fines of the Insurance Code - $5,000 for the first and $10,000 for each subsequent The Commissioner can revoke a Producer's License if he finds that the Producer aggrega