NJ Property & Casualty Rules/Regulations Already( Graded A+) Commissioner must give at least ____ days before a hearing for unfair trade practices - ANSWER-10 Days
Max fine for each violation committed unknowingly - ANSWER-$1,000
Max fine for each violation committed knowingly - ANSWER-$5,000
Max fine for violating a cease and desist order - ANSWER-$5,000
Minimum age to obtain producer's license - ANSWER-18
Time frame for a nonresident insurance producer to file a change of address - ANSWER-30 days
Prelicensing hours required for life, accident, and health license - ANSWER-20 hours
Prelicensing hours for P&C - ANSWER-40 hours
Temporary work authority for resident producer applicants is valid for ____ days - ANSWER-60 days
If producer dies, becomes disabled, or is called to active military service, Commissioner may issue a: - ANSWER-Temporary Producer License
Temporary Producer License may be issued for a max of ____ days - ANSWER-180 days
Commissioner must be notified of cancellation within ____ days, including reason for cancellation - ANSWER-15 days1
Expiration date of license is every ____ years on the last day of the birth month - ANSWER-2 years
A producer who allows his license to expire may reinstate the license within ____ of expiration - ANSWER-1 year
Total CE hours required for every two years - ANSWER-24 hours
CE includes ____ hours of ethics CE - ANSWER-3 hours
Max fine for each violation committed unknowingly - ANSWER-$1,000
Max fine for each violation committed knowingly - ANSWER-$5,000
Max fine for violating a cease and desist order - ANSWER-$5,000
Minimum age to obtain producer's license - ANSWER-18
Time frame for a nonresident insurance producer to file a change of address - ANSWER-30 days
Prelicensing hours required for life, accident, and health license - ANSWER-20 hours
Prelicensing hours for P&C - ANSWER-40 hours
Temporary work authority for resident producer applicants is valid for ____ days - ANSWER-60 days
If producer dies, becomes disabled, or is called to active military service, Commissioner may issue a: - ANSWER-Temporary Producer License
Temporary Producer License may be issued for a max of ____ days - ANSWER-180 days
Commissioner must be notified of cancellation within ____ days, including reason for cancellation - ANSWER-15 days1
Expiration date of license is every ____ years on the last day of the birth month - ANSWER-2 years
A producer who allows his license to expire may reinstate the license within ____ of expiration - ANSWER-1 year
Total CE hours required for every two years - ANSWER-24 hours
CE includes ____ hours of ethics CE - ANSWER-3 hours
