NJ Property Insurance Practice Questions with Complete Solutions (Latest 2025) What are the nine prohibited trade practices? - Correct Answers ✅1. misrepresentation
- false advertising
- defamation
- rebates
- false financial statements
- stock operations & advisory contracts
- boycott, coercion, intimidation
- unfair discrimination
- unfair claim settlement practices
- insurance department
- governor
- superintendent of insurance
- department of banking & insurance - Correct Answers
- spouse of a disabled producer
- surviving spouse of a deceased producer 1 / 3
Which government body has principal responsibility for regulating the insurance industry in NJ?
✅d. department of banking & insurance Which of the following persons would not qualify for a temporary substitute producer's license in New Jersey?
NJ Property Insurance Practice Questions with Complete Solutions (Latest 2025)
- personal designated by a producer who is on active
- new agent preparing for the state license exam - Correct
- collecting and transmitting insurance premiums
- preparing advertisements for an insurance contract
- negotiating an insurance contract
- processing claims - Correct Answers ✅b. preparing
military duty
Answers ✅d. new agent preparing for the state license exam Which of the following is not considered insurance-related conduct?
advertisements for an insurance contract All of the following are required for a person to obtain a
resident producer's license EXCEPT:
- completion of a prelicensing course of study
- payment of the required licensing fees
- at least one appointment by an insurer
- being at least 18 years of age - Correct Answers ✅c. at
- authorized insurer 2 / 3
least one appointment by an insurer An insurance company formed under the laws of another state is a/an
NJ Property Insurance Practice Questions with Complete Solutions (Latest 2025)
- domestic insurer
- foreign insurer
- alien insurer - Correct Answers ✅c. foreign insurer
- branch offices must close when a licensed producer is not
- a branch office is another name for an agent's private
- a producer must give the state 30 days advance notice
- an unlicensed person may manage a branch office if the
- selling insurance
- soliciting insurance
- negotiating insurance
- insurance-related conduct - Correct Answers ✅a. selling
- / 3
Which of the following statements regarding branch offices is correct?
present
office
before opening a branch office
person does not sell insurance - Correct Answers ✅c. a producer must give the state 30 days advance notice before opening a branch office Exchanging an insurance policy in return for money collected on behalf of an insurer is the definition of
insurance