Life Insurance NJ Law Questions and
Answers Updated 2026
TheBMcCarran-FergusonBActBwasBpassedBbyBCongressBtoB-
BAnswerRedefineBtheBauthorityBofBtheBstateBandBfederalBgovernmentBtoBregulateBtheBinsuran
ceBindustry
TheBCommissionerBofBtheBNJBDepartmentBofBInsuranceBisBappointedBby:B-
BAnswerTheBgovernor
AccordingBtoBNewBJerseyBlaw,BcopiesBofBinsuranceBadvertisementsBmustBbeBmaintainedB-
BAnswerAtBtheBcompany'sBoffice
MakingBstatementsBwhichBareBfalseBandBderogatoryBaboutBtheBfinancialBconditionBofBtheBins
urerBis:B-BAnswerdefamation
ABproducerBhasBupBtoBhowBmanyBdaysBtoBnotifyBtheBDepartmentBofBanBaddressBchange?B-
BAnswer30Bdays
WhatBhoursBofBoperationBisBaBbranchBofficeBrequiredBtoBhave?B-
BAnswerMustBgiveBpublicBreasonableBaccess
InBNewBJersey,BaBproducerBwhoBviolatesBaBNewBJerseyBinsuranceBlawBforBtheBfirstBtimeBmay
BbeBfinedBupBtoB-BAnswer$5,000
TheBNewBJerseyBBankingBandBInsuranceBCommissionerBhasBtheBauthorityBtoBdoBallBofBtheBfo
llowingBactionsBEXCEPTB-BAnswerEstablishBinsuranceBratesBandBschedules
WhichBofBtheBfollowingBdoesBNOTBrequireBaBproducer'sBlicense?B-
BAnswerAnBofficeBmanagerBlimitedBtoBsupervisingBofficeBstaff
roducersBwhoseBlicensesBhaveBbeenBrevokedBmustBwaitBaBminimumBofBhowBlongBbeforeBrea
pplying?B-BAnswer5Byears
AnBinsurerBthatBisBincorporatedBunderBtheBlawsBofBNewBJersey,BwithoutBpermanentBstock,Ba
ndBitsBgoverningBbodyBelectedBbyBitsBpolicyholdersBis:B-BAnswerDomesticBmutualBinsurer
, ABproducerBassistsBanBinsuredBinBconvertingBaBlifeBpolicyBtoBreducedBpaid-
upBinsuranceBinBorderBtoBbuyBaBnewBpolicy.BThisBactionBisBbestBknownBasB-BAnswerreplacing
AnBinsurerBwhoBisBplacedBunderBanBorderBofBliquidationBbyBaBcourtBofBcompetentBjurisdictio
nBisBdefinedBunderBtheBtermsBofBtheBNewBJerseyBLifeBandBHealthBInsuranceBGuarantyBactBas
B-BAnswerAnBinsolventBinsurer
InsuranceBadvertisingBinBlocalBnewspapersBisBregulatedBbyBthe:B-
BAnswerNewBJerseyBDepartmentBofBBankingBandBInsurance
TheBBankingBandBInsuranceBCommissionerBmayBrevokeBtheBlicenseBofBaBproducerBwhoB-
BAnswerUsesBtheBlicenseBprimarilyBtoBobtainBinsuranceBforBhisBorBherBfamily
ABproducerBwhoBencouragesBanBinsuredBtoBlapseBoneBpolicyBandBbuyBaBnewBoneBbasedBon
BanBincompleteBcomparisonBofBtheBpoliciesBmayBbeBengagedBin:B-BAnswerTwisting
TheBprincipleBthatBinsuranceBisBnotBaBtransactionBofBcommerceBandBsoBshouldBbeBregulatedB
byBtheBstateBwasBestablishedBin:B-BAnswerPaulBv.BVirginia
ABproducerBwhoBsharesBcommissionBwithBaBclientBmayBbeBfoundBguiltyBof:B-BAnswerRebating
ABpolicyBillustrationBgivenBatBtheBtimeBofBsaleBdoesBnotBtypicallyBincludeBtheB-
BAnswerNamesBofBtheBbeneficiary
AllBofBtheBfollowingBitemsBmayBbeBconsideredBformsBofBadvertisingBforBlifeBinsuranceBexcept:
B-BAnswerBuyer'BGuides
CreditBlifeBinsuranceBmayBbeBissuedBtoBaBborrowerBinBwhichBofBtheBfollowingBforms?B-
BAnswerGroupBtermBlife
ABproducersBcertificationBofBlicenseBstatusBcontainsBallBofBtheBfollowingBinformationBexcept:B-
BAnswerPlaceBofBbirth
Answers Updated 2026
TheBMcCarran-FergusonBActBwasBpassedBbyBCongressBtoB-
BAnswerRedefineBtheBauthorityBofBtheBstateBandBfederalBgovernmentBtoBregulateBtheBinsuran
ceBindustry
TheBCommissionerBofBtheBNJBDepartmentBofBInsuranceBisBappointedBby:B-
BAnswerTheBgovernor
AccordingBtoBNewBJerseyBlaw,BcopiesBofBinsuranceBadvertisementsBmustBbeBmaintainedB-
BAnswerAtBtheBcompany'sBoffice
MakingBstatementsBwhichBareBfalseBandBderogatoryBaboutBtheBfinancialBconditionBofBtheBins
urerBis:B-BAnswerdefamation
ABproducerBhasBupBtoBhowBmanyBdaysBtoBnotifyBtheBDepartmentBofBanBaddressBchange?B-
BAnswer30Bdays
WhatBhoursBofBoperationBisBaBbranchBofficeBrequiredBtoBhave?B-
BAnswerMustBgiveBpublicBreasonableBaccess
InBNewBJersey,BaBproducerBwhoBviolatesBaBNewBJerseyBinsuranceBlawBforBtheBfirstBtimeBmay
BbeBfinedBupBtoB-BAnswer$5,000
TheBNewBJerseyBBankingBandBInsuranceBCommissionerBhasBtheBauthorityBtoBdoBallBofBtheBfo
llowingBactionsBEXCEPTB-BAnswerEstablishBinsuranceBratesBandBschedules
WhichBofBtheBfollowingBdoesBNOTBrequireBaBproducer'sBlicense?B-
BAnswerAnBofficeBmanagerBlimitedBtoBsupervisingBofficeBstaff
roducersBwhoseBlicensesBhaveBbeenBrevokedBmustBwaitBaBminimumBofBhowBlongBbeforeBrea
pplying?B-BAnswer5Byears
AnBinsurerBthatBisBincorporatedBunderBtheBlawsBofBNewBJersey,BwithoutBpermanentBstock,Ba
ndBitsBgoverningBbodyBelectedBbyBitsBpolicyholdersBis:B-BAnswerDomesticBmutualBinsurer
, ABproducerBassistsBanBinsuredBinBconvertingBaBlifeBpolicyBtoBreducedBpaid-
upBinsuranceBinBorderBtoBbuyBaBnewBpolicy.BThisBactionBisBbestBknownBasB-BAnswerreplacing
AnBinsurerBwhoBisBplacedBunderBanBorderBofBliquidationBbyBaBcourtBofBcompetentBjurisdictio
nBisBdefinedBunderBtheBtermsBofBtheBNewBJerseyBLifeBandBHealthBInsuranceBGuarantyBactBas
B-BAnswerAnBinsolventBinsurer
InsuranceBadvertisingBinBlocalBnewspapersBisBregulatedBbyBthe:B-
BAnswerNewBJerseyBDepartmentBofBBankingBandBInsurance
TheBBankingBandBInsuranceBCommissionerBmayBrevokeBtheBlicenseBofBaBproducerBwhoB-
BAnswerUsesBtheBlicenseBprimarilyBtoBobtainBinsuranceBforBhisBorBherBfamily
ABproducerBwhoBencouragesBanBinsuredBtoBlapseBoneBpolicyBandBbuyBaBnewBoneBbasedBon
BanBincompleteBcomparisonBofBtheBpoliciesBmayBbeBengagedBin:B-BAnswerTwisting
TheBprincipleBthatBinsuranceBisBnotBaBtransactionBofBcommerceBandBsoBshouldBbeBregulatedB
byBtheBstateBwasBestablishedBin:B-BAnswerPaulBv.BVirginia
ABproducerBwhoBsharesBcommissionBwithBaBclientBmayBbeBfoundBguiltyBof:B-BAnswerRebating
ABpolicyBillustrationBgivenBatBtheBtimeBofBsaleBdoesBnotBtypicallyBincludeBtheB-
BAnswerNamesBofBtheBbeneficiary
AllBofBtheBfollowingBitemsBmayBbeBconsideredBformsBofBadvertisingBforBlifeBinsuranceBexcept:
B-BAnswerBuyer'BGuides
CreditBlifeBinsuranceBmayBbeBissuedBtoBaBborrowerBinBwhichBofBtheBfollowingBforms?B-
BAnswerGroupBtermBlife
ABproducersBcertificationBofBlicenseBstatusBcontainsBallBofBtheBfollowingBinformationBexcept:B-
BAnswerPlaceBofBbirth