NJ LIFE PRODUCER EXAM QUESTIONS AND ANSWERS
GRADED A+ 100% GUARANTEED SUCCESS.
Which of the following amounts must decrease in a decreasing
term? ANS >>> Death benefit
In life insurance, insurable interest must exist at the time the.
ANS >>> Producer writes an on a proposed insured
An applicant makes an offer to the insurer when they ANS >>> pay
an initial premium with the application
Which of the following makes Universal Life insurance different
from other forms of permanent insurance? ANS >>> Premium
Schedule
An insurer that shares its profits with its' policyowners is known
as. ANS >>> A mutual insurer
,Statements made by an applicant for insurance on the
application are considered to be. ANS >>> Representations
In which of the following are proceeds left with the insurer and
earnings sent to the beneficiary? ANS >>> Interest-Only
The primary purpose of an annuity is to. ANS >>> 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? ANS >>> 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? ANS >>> The insured's
signed statement of continued good health
A report of previously submitted life insurance applications to
other insurers is known as: ANS >>> 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. ANS >>> 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? ANS >>> Grace period provision
which of the following prevents the producer from unilaterally
amending a policy? ANS >>> Entire contract
interest paid on a policy loan is. ANS >>> not tax deductible
An employer paid life insurance policy is called ANS >>> Non-
contributory group life
A tax-free exchange of one life insurance policy or annuity for
another is called. ANS >>> 1035 exchange
Which of the following group life plans require at least 75% of
the eligible members to participate? ANS >>> Contributory
GRADED A+ 100% GUARANTEED SUCCESS.
Which of the following amounts must decrease in a decreasing
term? ANS >>> Death benefit
In life insurance, insurable interest must exist at the time the.
ANS >>> Producer writes an on a proposed insured
An applicant makes an offer to the insurer when they ANS >>> pay
an initial premium with the application
Which of the following makes Universal Life insurance different
from other forms of permanent insurance? ANS >>> Premium
Schedule
An insurer that shares its profits with its' policyowners is known
as. ANS >>> A mutual insurer
,Statements made by an applicant for insurance on the
application are considered to be. ANS >>> Representations
In which of the following are proceeds left with the insurer and
earnings sent to the beneficiary? ANS >>> Interest-Only
The primary purpose of an annuity is to. ANS >>> 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? ANS >>> 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? ANS >>> The insured's
signed statement of continued good health
A report of previously submitted life insurance applications to
other insurers is known as: ANS >>> 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. ANS >>> 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? ANS >>> Grace period provision
which of the following prevents the producer from unilaterally
amending a policy? ANS >>> Entire contract
interest paid on a policy loan is. ANS >>> not tax deductible
An employer paid life insurance policy is called ANS >>> Non-
contributory group life
A tax-free exchange of one life insurance policy or annuity for
another is called. ANS >>> 1035 exchange
Which of the following group life plans require at least 75% of
the eligible members to participate? ANS >>> Contributory
