Ch. 5 New Jersey Laws,
Rules, and Regulations
Common to All Lines
Exam Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, When an insurance producer negotiates for an insurance contract on behalf of a client, the producer is
acting as a(n)
a. Broker
b. Solicitor
c. Consultant
d. Agent - Answer: a.
An insurance company is domiciled in Montana and transacts insurance in Wyoming. Which term best
describes the insurer's classification in Wyoming?
a. Alien
b. Domestic
c. Unauthorized
d. Foreign - Answer: d.
Which of the following most likely would NOT be required to complete continuing education hours in
this state?
a. Nonresident producers
b. Insurance brokers
c. Resident producers
d. Insurance consultants - Answer: a.
If an insurer and insured have a dispute about whether a particular loss is covered under a policy, which
authority will settle the dispute?
a. Commissioner
b. Federal Insurance Regulation Board
c. Consumer Protection Agency
d. Court system - Answer: d.
In choosing an insurance business name, which of the following would be allowed?
a. A name with the same spelling as a competing company, but a different pronunciation.
Rules, and Regulations
Common to All Lines
Exam Questions and
Complete Solutions
Graded A+
Denning [Date] [Course title]
, When an insurance producer negotiates for an insurance contract on behalf of a client, the producer is
acting as a(n)
a. Broker
b. Solicitor
c. Consultant
d. Agent - Answer: a.
An insurance company is domiciled in Montana and transacts insurance in Wyoming. Which term best
describes the insurer's classification in Wyoming?
a. Alien
b. Domestic
c. Unauthorized
d. Foreign - Answer: d.
Which of the following most likely would NOT be required to complete continuing education hours in
this state?
a. Nonresident producers
b. Insurance brokers
c. Resident producers
d. Insurance consultants - Answer: a.
If an insurer and insured have a dispute about whether a particular loss is covered under a policy, which
authority will settle the dispute?
a. Commissioner
b. Federal Insurance Regulation Board
c. Consumer Protection Agency
d. Court system - Answer: d.
In choosing an insurance business name, which of the following would be allowed?
a. A name with the same spelling as a competing company, but a different pronunciation.
