2025 NJ LIFE PRODUCER EXAM
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Which of the following amounts must decrease in a decreasing term? - Correct answers✔Death
benefit
In life insurance, insurable interest must exist at the time the.. - Correct answers✔Producer writes
an on a proposed insured
An applicant makes an offer to the insurer when they - Correct answers✔pay an initial premium
with the application
Which of the following makes Universal Life insurance different from other forms of permanent
insurance? - Correct answers✔Premium Schedule
An insurer that shares its profits with its' policyowners is known as.. - Correct answers✔A
mutual insurer
Statements made by an applicant for insurance on the application are considered to be.. - Correct
answers✔Representations
In which of the following are proceeds left with the insurer and earnings sent to the beneficiary?
- Correct answers✔Interest-Only
The primary purpose of an annuity is to.. - Correct answers✔Provide income for retirement
Which of the following provisions in a life policy specifies the manner in which proceeds will be
paid to a beneficiary on the death of insured? - Correct answers✔settlement options
, An insurance producer takes an application for a life policy but does not collect the initial
premium. On delivery of policy to the proposed insured, the producer must collect the initial
premium and which of the following? - Correct answers✔The insured's signed statement of
continued good health
A report of previously submitted life insurance applications to other insurers is known as: -
Correct answers✔A Medical Information Bureau report
A company decides to purchase Key Employee life insurance for its vice president of operations.
All of the following statements are correct EXCEPT the.. - Correct answers✔Employee names
the beneficiary
Which of the following features allows an insurance policy to remain in force for a specified
number of days beyond the premium due date? - Correct answers✔Grace period provision
which of the following prevents the producer from unilaterally amending a policy? - Correct
answers✔Entire contract
interest paid on a policy loan is.. - Correct answers✔not tax deductible
An employer paid life insurance policy is called - Correct answers✔Non-contributory group life
A tax free exchange of one life insurance policy or annuity for another is called.. - Correct
answers✔1035 exchange
Which of the following group life plans require at least 75% of the eligible members to
participate? - Correct answers✔Contributory
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Which of the following amounts must decrease in a decreasing term? - Correct answers✔Death
benefit
In life insurance, insurable interest must exist at the time the.. - Correct answers✔Producer writes
an on a proposed insured
An applicant makes an offer to the insurer when they - Correct answers✔pay an initial premium
with the application
Which of the following makes Universal Life insurance different from other forms of permanent
insurance? - Correct answers✔Premium Schedule
An insurer that shares its profits with its' policyowners is known as.. - Correct answers✔A
mutual insurer
Statements made by an applicant for insurance on the application are considered to be.. - Correct
answers✔Representations
In which of the following are proceeds left with the insurer and earnings sent to the beneficiary?
- Correct answers✔Interest-Only
The primary purpose of an annuity is to.. - Correct answers✔Provide income for retirement
Which of the following provisions in a life policy specifies the manner in which proceeds will be
paid to a beneficiary on the death of insured? - Correct answers✔settlement options
, An insurance producer takes an application for a life policy but does not collect the initial
premium. On delivery of policy to the proposed insured, the producer must collect the initial
premium and which of the following? - Correct answers✔The insured's signed statement of
continued good health
A report of previously submitted life insurance applications to other insurers is known as: -
Correct answers✔A Medical Information Bureau report
A company decides to purchase Key Employee life insurance for its vice president of operations.
All of the following statements are correct EXCEPT the.. - Correct answers✔Employee names
the beneficiary
Which of the following features allows an insurance policy to remain in force for a specified
number of days beyond the premium due date? - Correct answers✔Grace period provision
which of the following prevents the producer from unilaterally amending a policy? - Correct
answers✔Entire contract
interest paid on a policy loan is.. - Correct answers✔not tax deductible
An employer paid life insurance policy is called - Correct answers✔Non-contributory group life
A tax free exchange of one life insurance policy or annuity for another is called.. - Correct
answers✔1035 exchange
Which of the following group life plans require at least 75% of the eligible members to
participate? - Correct answers✔Contributory
