A New Jersey major-lines producer allowed his license to lapse and applies for renewal several months later, still within one year of expiration. What does the late renewal require?

Why B is correct

Under the late-renewal rules administered by the New Jersey Department of Banking and Insurance, an application filed within one year after license expiration requires proof of 48 continuing education credits (or 24 where applicable), certification of any business transacted while unlicensed, and a late fee of $100 for a major line ($50 for limited lines). Renewing within 30 days of expiration avoids the late fee, which is why prompt renewal matters. The framework for producer licensing and renewal sits in N.J.S.A. 17:22A-1 et seq.

Why the other options are wrong

• A) Within one year of expiration the producer renews late rather than retesting; the requirement is CE proof and fees, not a new examination.
• C) A signed statement alone does not satisfy late renewal; CE proof, the business certification, and the late fee are all required.
• D) The $50 late fee applies to limited lines, and no new prelicensing course is required within the one-year late-renewal window.

Memory hook

Late but within a year: 48 CE, certify the gap, pay the hundred.