New Jersey Life Producer Practice Exam

How many days does a producer have to notify the department of an address change?

1. 15 days

2. 30 days

3. 10 days

4. 5 days

The correct answer is: 10 days

A producer must notify the department of an address change within 10 days. This requirement ensures that the regulatory authority can maintain up-to-date contact information for all licensed producers, which is essential for correspondence, compliance checks, and regulatory notifications. Timely reporting of address changes helps facilitate consistent communication between the producer and the regulatory body, which is crucial for maintaining professionalism and accountability in the insurance industry. In this case, choosing a timeframe longer than 10 days does not align with the statutory requirements, which emphasize prompt notification to ensure continuous compliance and efficient operational processes.