NJ LIFE FINAL EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
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Course
NJ LIFE PRODUCER LIFE INSURANCE
Institution
NJ LIFE PRODUCER LIFE INSURANCE
NJ LIFE FINAL EXAM 2024/2025 WITH 100% ACCURATE SOLUTIONS
Which of these is a method of determining the level of funds required for ongoing support in the event of the breadwinner's death?
Financial loss value
Human life value
Assessment value
Replacement value - Precise Answer Human lif...
NJ LIFE FINAL EXAM 2024/2025 WITH
100% ACCURATE SOLUTIONS
Which of these is a method of determining the level of funds required
for ongoing support in the event of the breadwinner's death?
Financial loss value
Human life value
Assessment value
Replacement value - Precise Answer ✔✔Human life value
The Guaranty Association Act provides that when a Court Order of
Liquidation exists, the insurer - Precise Answer ✔✔Is insolvent
An individual most likely will have an insurable interest in insuring a
person's life if - Precise Answer ✔✔An economic interest exists for the
continuance of the insured's life
An error was made on Mary's life insurance application. Which of the
following areas are errors commonly made on applications for which the
incontestable clause does NOT apply?
Marital status
,Age
Address
Income - Precise Answer ✔✔Age
Before conducting an HIV related test, an insurer is REQUIRED to
obtain written authorization from the - Precise Answer ✔✔Proposed
insured
One of the roles of the Banking and Insurance Commissioner is to -
Precise Answer ✔✔Establish continuing education requirements
If an insured's age on a life insurance policy has been misstated, what is
the insurer's liability if the insured dies? - Precise Answer ✔✔A
prorated death benefit based on the amount of insurance the insured's
premiums would have been if purchased at the age at the correct
Under a group life policy, the insurer will issue an individual _____ to
the policyowner for delivery to each person insured - Precise Answer
✔✔Certificate
Jerry voluntarily terminated his producer's license. If he changes his
mind, his license may be reinstated during the same license period if -
Precise Answer ✔✔He completes a new license application
, A producer has recently died and leaves behind a spouse. In order for the
producer's insurance business to continue, the Department of Banking
and Insurance may issue to the producer's spouse a(n) - Precise Answer
✔✔Temporary insurance license
In what part of an insurance policy are policy benefits found? - Precise
Answer ✔✔Declarations
A securities license is required for a life insurance producer to sell -
Precise Answer ✔✔Variable life insurance
Barbara's policy includes a rider which allows her to purchase additional
insurance at specific dates or events without evidence of insurability.
This rider is called a(n) - Precise Answer ✔✔Guaranteed insurability
rider
Which type of life insurance is normally associated with a Payor Benefit
rider? - Precise Answer ✔✔Juvenile Insurance
The conversion privilege under a group life plan allows an employee to
convert to a(n) - Precise Answer ✔✔Individual plan upon employment
termination
Which of the following signatures is not required on an individual
insurance application?
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