New Jersey Life Insurance Exam Practice Question
After a New Jersey producer license has been revoked, the licensee may not reapply for a new license for a MINIMUM of
Correct Answer: C
Rationale: After a New Jersey producer license is revoked, the licensee must wait a minimum of 1 year before reapplying. This period allows for reflection and ensures that the individual has taken steps to address any issues that led to the revocation.
Option A (5 years) is incorrect as it exceeds the mandated waiting period. Option B (3 years) is also incorrect for the same reason, as it is longer than necessary. Option D (6 months) is insufficient, not aligning with the established 1-year minimum waiting period. Understanding these timelines is crucial for compliance and responsible practice in the insurance industry.
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