Free Insurance Regulation Practice Questions
New Jersey Casualty exam — 217 practice questions.
Subtopics: Scope of 11:1-20, Excluded commercial lines, Nonrenewal window, Renewal premium notice, Midterm cancellation notice, Nonpayment cancellation, Payment before cancellation, Moral hazard, Notice content, Complaint statement, Notice delivery, No nonrenewal notice, Insured-requested termination, Underwriting guidelines, Approved guidelines, Policy statement, New business period, Loss experience, Agency termination, Claim reporting by broker, Claim acknowledgment, Notice to agent, Department inquiry, Start of investigation, First-party payment, Third-party payment, Third-party PD payment, Delay notices, Settlement payment, Unfair claims, Lowball offers, Race discrimination, Age and auto, Defamation, Boycott, Rebating in P&C, Accepting rebates, Personal lines rates, Rate standards, PLIGA limit, PLIGA exceptions, PLIGA lines, PLIGA and surplus lines, Surplus lines guaranty fund, PLIGA net worth, PLIGA timing, PLIGA assessments, Diligent effort, Surplus lines agent, Eligible insurer, Export rate floor, Exportable list, Surplus lines tax, Absorbing the tax, Evidence of coverage, Independent procurement, Deregulation act, Commercial rate filing, Commercial forms, Special risks, Deregulation exclusions, Commercial rebates, Commercial forms standard, Property line, Casualty line, Personal lines line, CE requirement, CE carryover, Flood CE, CE credit hour, Certificate effect, Certificate definition, Altering coverage, Certificate notice rights, Contract compliance, Prelicensing hours, Negotiate defined, Solicit defined, Sell defined, Insurance consultant, Consultant exclusion, License authority, License exemption, Exam languages, Failed exam, Exam content, Minimum age, Business entity, Fingerprinting, Arrest notice, Lapsed license, Late penalty, Military waiver, Change of address, Address records, Address fine, Nonresident license, Service of process, Moving to NJ, Moving out, Prior license exemption, Nonresident CE, Assumed name, Business name standard, Temporary license term, Temporary license uses, Temporary license sponsor, Temporary work authority, Score validity, First license term, Business entity term, Late renewal, Expired license, Fraud CE substitution, Prelicensing vs CE, Appointment notice, Appointment renewal, Pre-licensure business, Termination filing, Termination for misconduct, Termination immunity, Premium receipt, Employing producer, Branch office, Branch staffing, Proof of licensure, Grounds for discipline, Child support, Criminal reporting, FINRA actions, Denial hearing, Entity responsibility, Surrendered license, Civil penalties, Restitution, Ex parte orders, Subpoenas, Penalty hearing request, Unlicensed commissions, Veteran fee waiver, Hearing notice, Cease and desist, Violating C&D order, Judicial review, Complaint records, Stock as inducement, Fraud reporting, Reporter immunity, Fraud penalties, Application fraud, Fraud prosecutor, Crime of insurance fraud, Signature inference, Privacy authorization, Domestic insurer, Alien insurer, Repeating a course, Instructor credit, Stock insurer, Mutual insurer, Reinsurance parties, Commissioner rulemaking, Commissioner conflicts, Fair Credit Reporting Act, Fraud and false statements, Gramm-Leach-Bliley, Terrorism Risk Insurance Act, Motor Carrier Act, Do Not Call, McCarran-Ferguson Act, NAIC role, Rebating, Twisting, CAN-SPAM Act, Guaranty association, Federal Insurance Office, Risk retention groups, Purchasing groups, Surplus lines (NRRA), Surplus lines insurers, Rate regulation, Rating laws, Advisory organizations, Unfair claims practices, Unfair trade practices, Misrepresentation, Misappropriation of premiums, Motor carrier financial responsibility, ERISA bonding, Producer licensing concepts, Agent vs broker, Gap insurance licensing, Federal regulation
Read the Insurance Regulation study guide
Sample questions & answers
1. New Jersey's cancellation and nonrenewal rules at N.J.A.C. 11:1-20 apply to commercial policies and also to:
Homeowners policies
The subchapter applies to commercial insurance policies (with listed exceptions such as workers' compensation and surplus lines) and to all homeowners insurance policies.
2. Which policy is NOT subject to New Jersey's commercial cancellation and nonrenewal rules at N.J.A.C. 11:1-20?
A policy written by a surplus lines insurer
The rules exclude workers' compensation, employers liability, fidelity and surety bonds, ocean marine, aviation, accident and health, and any policy written by a surplus lines insurer.
3. A New Jersey nonrenewal notice for a homeowners or commercial policy is valid only if mailed or delivered:
Between 30 and 120 days before expiration
Nonrenewal notices must be mailed or delivered not more than 120 days nor less than 30 days before the policy expires (medical malpractice differs).
4. For New Jersey homeowners and commercial policies, notice of the renewal premium and any change in contract terms must be given:
30 to 120 days before the due date
Notice of the renewal premium and any changed terms must be given in writing not more than 120 nor less than 30 days before the due date, stating the effect of nonpayment.
Practice: Insurance Regulation
Answer choices are shuffled every time, and every question comes with an explanation.
Practice questions are study aids generated for exam preparation and are not actual exam questions. Content is provided for educational purposes and is not legal advice. Verify current statutes, rules, and exam specifications with the Insurance Department and the exam administrator before relying on it.
