NJ TITLE PRODUCER FINAL EXAM
TEST COMPLETE EXAM QUESTIONS
WITH DETAILED VERIFIED
ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
In addition to suspension or revocation of the license and
other penalties under the law, if a producer violates any
provisions of the licensing laws the Commissioner may
impose a fine of up to?
A) $5,000 of the first violation, $10,00 for each subsequent
violation
B) $2,000 for the first violation, $5,000 for each
subsequent violation
C) $5,000 for each violation
D) $10,000 for each violation - ....ANSWER...A) $5,000 of
the first violation, $10,00 for each subsequent violation
A person whose producer license is revoked shall not be
entitled to apply for another insurance license for at least?
1
,A) One year
B) Two years
C) Five years
D) Ten years - ....ANSWER...C) Five years
A license producer is required to file notice of any changes
of address within?
A) 10 days
B) 20 days
C) 30 days
D) 60 days - ....ANSWER...C) 30 days
A domestic mutual insurer is?
A) An insurer incorporated under the laws of NJ with
capital stock
B) An insurer incorporated under the laws of NJ with its
capital stock divided into shares and owned by its
stockholders.
C) An insurer incorporated under the laws of NJ without
permanent capital stock, its governing body elected by
policyholders.
2
,D) Insurance companies that are classified in different
ways depending upon the amount of stock held -
....ANSWER...C) An insurer incorporated under the laws
of NJ without permanent capital stock, its governing body
elected by policyholders.
Which of the following would be considered non-public
record of a producer?
A) License authority and date of first issue
B) Names and reference numbers of licensed organizations
for which the producer severs as a licensed officer or
partner.
C) Petitions or discharges in bankruptcy
D) Date of birth - ....ANSWER...C) Petitions or discharges
in bankruptcy
The penalty for violation of a Cease and Desist order is?
A) $2,000
B) $5,000
C) $10,000
D) $25,000 - ....ANSWER...B) $5,000
3
, The Commissioner of Insurance is appointed by?
A) The Legislature.
B) The Senate.
C) The Secretary of State.
D) The Governor. - ....ANSWER...D) The Governor.
The waiting period after the revocation of a producer's
license before they may reapply is?
A) 5 years from the effective date of the revocation.
B) 5 years from the effective date of the renewal.
C) 10 years from the effective date of the revocation
D) IO years from the effective date of the renewal. -
....ANSWER...A) 5 years from the effective date of the
revocation.
The standard term for a producer's license is
approximately?
A) I year.
B) 2 years
C) 3 years.
4
TEST COMPLETE EXAM QUESTIONS
WITH DETAILED VERIFIED
ANSWERS (100% CORRECT
ANSWERS) /ALREADY GRADED A+
In addition to suspension or revocation of the license and
other penalties under the law, if a producer violates any
provisions of the licensing laws the Commissioner may
impose a fine of up to?
A) $5,000 of the first violation, $10,00 for each subsequent
violation
B) $2,000 for the first violation, $5,000 for each
subsequent violation
C) $5,000 for each violation
D) $10,000 for each violation - ....ANSWER...A) $5,000 of
the first violation, $10,00 for each subsequent violation
A person whose producer license is revoked shall not be
entitled to apply for another insurance license for at least?
1
,A) One year
B) Two years
C) Five years
D) Ten years - ....ANSWER...C) Five years
A license producer is required to file notice of any changes
of address within?
A) 10 days
B) 20 days
C) 30 days
D) 60 days - ....ANSWER...C) 30 days
A domestic mutual insurer is?
A) An insurer incorporated under the laws of NJ with
capital stock
B) An insurer incorporated under the laws of NJ with its
capital stock divided into shares and owned by its
stockholders.
C) An insurer incorporated under the laws of NJ without
permanent capital stock, its governing body elected by
policyholders.
2
,D) Insurance companies that are classified in different
ways depending upon the amount of stock held -
....ANSWER...C) An insurer incorporated under the laws
of NJ without permanent capital stock, its governing body
elected by policyholders.
Which of the following would be considered non-public
record of a producer?
A) License authority and date of first issue
B) Names and reference numbers of licensed organizations
for which the producer severs as a licensed officer or
partner.
C) Petitions or discharges in bankruptcy
D) Date of birth - ....ANSWER...C) Petitions or discharges
in bankruptcy
The penalty for violation of a Cease and Desist order is?
A) $2,000
B) $5,000
C) $10,000
D) $25,000 - ....ANSWER...B) $5,000
3
, The Commissioner of Insurance is appointed by?
A) The Legislature.
B) The Senate.
C) The Secretary of State.
D) The Governor. - ....ANSWER...D) The Governor.
The waiting period after the revocation of a producer's
license before they may reapply is?
A) 5 years from the effective date of the revocation.
B) 5 years from the effective date of the renewal.
C) 10 years from the effective date of the revocation
D) IO years from the effective date of the renewal. -
....ANSWER...A) 5 years from the effective date of the
revocation.
The standard term for a producer's license is
approximately?
A) I year.
B) 2 years
C) 3 years.
4
