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  4. Insurance Regulation

Free Insurance Regulation Practice Questions

New Jersey Life exam — 39 practice questions.

Subtopics: Regulatory authority, Continuing education, Ethics requirement, License term, CE carryover, Nonresident CE, Acts requiring license, Prelicensing, Governing statute, Appointment, Termination, Temporary license, Reporting actions, Change of address, Fiduciary duty, Rebating, Twisting, Churning, Defamation, Misrepresentation, Replacement free look, Free look, Guaranty association, Guaranty association advertising, Certificate of authority, Insurer domicile, Admitted insurer, License discipline, Commission sharing, Insurance fraud, Penalties, Advertising records, Fair Credit Reporting Act, Fraud and false statements, Privacy and Do Not Call, USA PATRIOT Act AML, McCarran-Ferguson Act, Telephone Consumer Protection Act

Read the Insurance Regulation study guide

Sample questions & answers

1. Which official heads the agency that regulates the business of insurance in New Jersey?

The Commissioner of Banking and Insurance

New Jersey insurance is regulated by the Department of Banking and Insurance (DOBI), led by the Commissioner.

2. How many continuing education credits must a resident New Jersey producer generally complete each biennial licensing term?

24 credits

New Jersey requires resident individual producers to complete 24 CE credits per two-year term to renew.

3. Of the CE credits required each term in New Jersey, how many must be in approved professional ethics?

3 credits

At least three CE credits per term must cover professional ethics; one may be substituted with insurance fraud.

4. A resident New Jersey producer license generally expires on what schedule?

Biennially on the last day of the licensee's birth month

Resident producer licenses are renewed biennially, expiring the last day of the licensee's birth month.

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Practice: Insurance Regulation

Take a randomized, timed-style practice test. Answer choices are shuffled and your results are scored instantly with an explanation for every question.

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.