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NJ EXAM QUESTIONS

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NJ EXAM QUESTIONS 2024 NJ EXAM QUESTIONS Which of the following is NOT an unfair claims practice? - correct answer-A- Refusing to pay a claim without investigating it B-Failing to affirm or deny ... coverage of claims within a reasonable time after proof of loss C-Promptly acknowledging communications pertinent to a claim D-Misrepresenting pertinent policy facts or provisions to claimants C- Promptly acknowledging communications pertinent to a claim is required with respect to claim practices. The other answers are unfair trade practices. What is the purpose of a Certificate of Authority? - correct answer-A- Authorizes a producer to sell insurance B-Authorizes a producer to sell surplus lines insurance C-Authorizes an insurer to transact insurance business D-Authorizes an insurer to pay claims C- Authorizes an insurer to transact insurance business C- A certificate issued by the Commissioner is evidence of the authority an insurer has to transact insurance in New Jersey. A policy may not be nonrenewed or cancelled unless written notice has been delivered to the insured: - correct answer-A-Not less than 120 days prior to expiration or cancellation B- Not less than 120 days or more than 30 days prior to expiration or cancellation C- Not more than 30 days prior to expiration or cancellation D-Not less than 30 days or more than 120 days prior to expiration or cancellation D- A policy may not be nonrenewed or cancelled unless written notice has been delivered to the insured not less than [Show More]

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