NJ Life Insurance Practice Test Questions and Answers 2 Exam (elaborations) NJ LIFE INSURANCE EXAM QUESTIONS AND ANSWERS 3 Exam (elaborations) NJ Life Insurance Exam Questions with Correct Answers 4 Exam (elaborations) NJ Life Insurance Study Questions with Correct Answers 5 Exam (elaborations)...
[Show more]
NJ LIFE INSURANCE EXAM QUESTIONS AND ANSWERS Lapse - Answer-Termination of a policy because the premium has not been paid by the end of the grace period. Law of Large Numbers - Answer-A principle stating that the larger the number of similar exposure units considered, the more closely the loss...
Preview 2 out of 14 pages
Add to cartNJ LIFE INSURANCE EXAM QUESTIONS AND ANSWERS Lapse - Answer-Termination of a policy because the premium has not been paid by the end of the grace period. Law of Large Numbers - Answer-A principle stating that the larger the number of similar exposure units considered, the more closely the loss...
NJ Life Insurance Practice Test Questions and Answers Grace Period - Answer-When the cash value account of a universal life policy reaches zero and the policy owner doesn't make a premium payment Cash values at age 65 when converting a term policy to a whole life policy at attained age - Answer...
Preview 2 out of 6 pages
Add to cartNJ Life Insurance Practice Test Questions and Answers Grace Period - Answer-When the cash value account of a universal life policy reaches zero and the policy owner doesn't make a premium payment Cash values at age 65 when converting a term policy to a whole life policy at attained age - Answer...
NJ Life Insurance Exam Questions with Correct Answers Which of the following will NOT be included in the buyer's guide? a) Explanation on how to choose the amount and type of insurance b) Basic information about life insurance policies c) Specific information about the policy d) Comparison o...
Preview 2 out of 13 pages
Add to cartNJ Life Insurance Exam Questions with Correct Answers Which of the following will NOT be included in the buyer's guide? a) Explanation on how to choose the amount and type of insurance b) Basic information about life insurance policies c) Specific information about the policy d) Comparison o...
NJ Life Insurance Study Questions with Correct Answers Beneficiary - Answer-Person to whom the proceeds of a life or accident policy are payable when the insured dies. The various types of beneficiaries are primary beneficiaries (those first entitled to proceeds), secondary beneficiaries (those e...
Preview 2 out of 8 pages
Add to cartNJ Life Insurance Study Questions with Correct Answers Beneficiary - Answer-Person to whom the proceeds of a life or accident policy are payable when the insured dies. The various types of beneficiaries are primary beneficiaries (those first entitled to proceeds), secondary beneficiaries (those e...
NJ Life Insurance Test Questions and Answers A reinstatement clause outlines reinstatement conditions that include - Answer-A. a higher premium charge. B. payment of outstanding loans within the year. C. proof of insurability. D. a decrease in policy limits. Answer C All of the fol...
Preview 3 out of 21 pages
Add to cartNJ Life Insurance Test Questions and Answers A reinstatement clause outlines reinstatement conditions that include - Answer-A. a higher premium charge. B. payment of outstanding loans within the year. C. proof of insurability. D. a decrease in policy limits. Answer C All of the fol...
NJ Life Insurance Prelicence Exam Questions and Answers HIPAA Disclosure and HIV Consent - Answer-all individually identifiable health info obtained during application must remain confidential. HIV consent form explains the purpose of the test and insurability based on test results Replacement -...
Preview 2 out of 10 pages
Add to cartNJ Life Insurance Prelicence Exam Questions and Answers HIPAA Disclosure and HIV Consent - Answer-all individually identifiable health info obtained during application must remain confidential. HIV consent form explains the purpose of the test and insurability based on test results Replacement -...
NJ Life Insurance Exam 2024 Questions and Answers Three types of term policies - Answer-level, increasing and decreasding level term insurance - Answer-most common type of term insurance level premium and death benefit annually renewable term - Answer-benefit remains level each year, guar...
Preview 3 out of 16 pages
Add to cartNJ Life Insurance Exam 2024 Questions and Answers Three types of term policies - Answer-level, increasing and decreasding level term insurance - Answer-most common type of term insurance level premium and death benefit annually renewable term - Answer-benefit remains level each year, guar...
NJ Life Insurance Exam with Complete Solutions How long is a temporary certificate? - Answer-60 days after passing the exam If your license is lost? - Answer-notify DOBI within 30 days Qualified to earn continuing education credit? - Answer-CLU designation course Qualified to Continuing ...
Preview 1 out of 3 pages
Add to cartNJ Life Insurance Exam with Complete Solutions How long is a temporary certificate? - Answer-60 days after passing the exam If your license is lost? - Answer-notify DOBI within 30 days Qualified to earn continuing education credit? - Answer-CLU designation course Qualified to Continuing ...
NJ Life Insurance Study Set Questions with Correct Answers What waiver waives all future premiums in the event of total and permanent disability? - Answer-Waiver of premium Which rider guarantees that at specified ages, dates, or events, the insured may buy additional insurance without a med exa...
Preview 2 out of 10 pages
Add to cartNJ Life Insurance Study Set Questions with Correct Answers What waiver waives all future premiums in the event of total and permanent disability? - Answer-Waiver of premium Which rider guarantees that at specified ages, dates, or events, the insured may buy additional insurance without a med exa...
NJ Life Insurance Exam Questions with Revised Answers New Update Which is true about the cash surrender non-forfeiture option? - Answer-Funds exceeding the premium paid are taxable as ordinary income If an immediate annuity is purchased with the face amount at death or with the cash value at sur...
Preview 2 out of 12 pages
Add to cartNJ Life Insurance Exam Questions with Revised Answers New Update Which is true about the cash surrender non-forfeiture option? - Answer-Funds exceeding the premium paid are taxable as ordinary income If an immediate annuity is purchased with the face amount at death or with the cash value at sur...
NJ Life Insurance Test Questions with All Correct Answers A producer who knowingly engages in a prohibited trade practice, can be issued a fine not to exceed - Answer-$5,000 for the first offense; $10,000 for each subsequent offenses A producer who unknowingly engages in a prohibited trade prac...
Preview 2 out of 11 pages
Add to cartNJ Life Insurance Test Questions with All Correct Answers A producer who knowingly engages in a prohibited trade practice, can be issued a fine not to exceed - Answer-$5,000 for the first offense; $10,000 for each subsequent offenses A producer who unknowingly engages in a prohibited trade prac...
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Stuvia is a marketplace, so you are not buying this document from us, but from seller Scholarsstudyguide. Stuvia facilitates payment to the seller.
No, you only buy these notes for $60.99. You're not tied to anything after your purchase.
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now