New Jersey Life Insurance Exam Practice Question
A branch office registration form must be filed with the Banking and Insurance Commissioner a MINIMUM of how many days before conducting business at the branch office?
Correct Answer: D
Rationale: Filing a branch office registration form at least thirty days prior to conducting business ensures that the Banking and Insurance Commissioner has adequate time to review and process the application, maintaining regulatory compliance.
Option A (Five days) is insufficient for thorough review, risking delays in approval. Option B (Ten days) also does not allow enough time for any potential issues to be addressed. Option C (Twenty days) is closer but still falls short of the necessary timeframe to ensure all regulatory requirements are met. Thus, thirty days is essential for proper oversight and operational readiness.
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