NJ PSI PROPERTY AND CASUALTY EXAM LATEST UPDATE

NJ PSI PROPERTY AND CASUALTY EXAM LATEST UPDATE In New Jersey, and insurer must provide at least______ advance notice for cancellation of property coverages for nonpayment of premium - CORRECT ANSWER -10 days The employment of another producer by a producer is subject to all of the following requirements, except a. the employer shall examine the credentials of the kinds of business described in the contract. b. the employer shall be responsible for the insurance related conduct of the employee c. the employee producer will conduct business under the supervision of the employer producer d. The Department of Insurance approves the contract. - CORRECT ANSWER -d. The Department of Insurance approves the contract. In order to cancel a Property insurance policy, an insurer must give the insured a ______ advance notice - CORRECT ANSWER -30 days An authorized agency of the insurer may release consumer information in which of the following situations? a. When requested by a related third part of the insured b. When requested in a fraud investigation c. More than 3 claims in the past 3 years d. When requested by a credit agency - CORRECT ANSWER -b. When requested in a fraud investigation If an agent is charged with a misdemeanor involving theft, any felony, or crimes of moral turpitude, he or she must report the charge to the department of insurance within: - CORRECT ANSWER -30 days of being charged