NJ HEALTH AND ACCIDENT
INSURANCE EXAM 2024 ACTUAL EXAM
2 VERSIONS (VERSION A AND B)
COMPLETE ACCURATE EXAM
QUESTIONS WITH DETAILED VERIFIED
ANSWERS
NJ LAW:
What are the duties/responsibilities of the Commissioner? - ✔✔- enforcing and
administering all laws pertaining to insurance
- make rules and regulations to help administer insurance code
- conduct examinations, administer oaths, question licensees, and issue
subpoenas
If the Commissioner finds that the producer has committed the alleged acts or
practice, they can order the producer..... - ✔✔- cease and desist from
committing the act or engaging in the practice
- be fined up to $1000
- be fined up to $5000 if the person knew they were violating the law
1|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, What is the maximum fine imposed by the Commissioner on a suspended
Producer for their first offense? - ✔✔up to $5000
mutual insurers - ✔✔- owned by policyholders
- mutual company does not have permanent capital stock
- governing body elected by policyholders
Who may receive temporary work authority? - ✔✔- those who submitted a
licensing application and fee
- expires after 60 days
twisting - ✔✔misrepresentation or incomplete comparison to induce a person
to lapse, forfeit, or surrender insurance
Within how many days must an insurer respond to an inquiry from the
Department? - ✔✔15 days
New Jersey Life and Health Insurance Guaranty Association - ✔✔- protects the
policyowner, insureds, and beneficiaries if an insurer becomes impaired or
insolvent and unable to perform its contractual obligations
An insured cannot bring suit after how many years have passed since filing
proof of loss? - ✔✔3 years
How long does the insured have to submit proof of loss? - ✔✔90 days
2|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
INSURANCE EXAM 2024 ACTUAL EXAM
2 VERSIONS (VERSION A AND B)
COMPLETE ACCURATE EXAM
QUESTIONS WITH DETAILED VERIFIED
ANSWERS
NJ LAW:
What are the duties/responsibilities of the Commissioner? - ✔✔- enforcing and
administering all laws pertaining to insurance
- make rules and regulations to help administer insurance code
- conduct examinations, administer oaths, question licensees, and issue
subpoenas
If the Commissioner finds that the producer has committed the alleged acts or
practice, they can order the producer..... - ✔✔- cease and desist from
committing the act or engaging in the practice
- be fined up to $1000
- be fined up to $5000 if the person knew they were violating the law
1|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
, What is the maximum fine imposed by the Commissioner on a suspended
Producer for their first offense? - ✔✔up to $5000
mutual insurers - ✔✔- owned by policyholders
- mutual company does not have permanent capital stock
- governing body elected by policyholders
Who may receive temporary work authority? - ✔✔- those who submitted a
licensing application and fee
- expires after 60 days
twisting - ✔✔misrepresentation or incomplete comparison to induce a person
to lapse, forfeit, or surrender insurance
Within how many days must an insurer respond to an inquiry from the
Department? - ✔✔15 days
New Jersey Life and Health Insurance Guaranty Association - ✔✔- protects the
policyowner, insureds, and beneficiaries if an insurer becomes impaired or
insolvent and unable to perform its contractual obligations
An insured cannot bring suit after how many years have passed since filing
proof of loss? - ✔✔3 years
How long does the insured have to submit proof of loss? - ✔✔90 days
2|Page
©JOSHCLAY 2025/2026. YEAR PUBLISHED 2025.
